LSEG’s BTS trading solution offers direct connection to Turquoise
- Facilitates order book trading and in more than 4,000 securities
- Members have single point of connectivity to all LSEG market
- One connection to access Turquoise multi-country stock universe of developed and emerging securities
- Turquoise Level 2 data added to BTS
BTS, London Stock Exchange Group’s multi-asset and multi-market front end trading and quoting solution, today announces a direct connection to Turquoise, the European Multilateral Trading Facility (MTF). Through Turquoise, the BTS GUI, powered by GATElab, offers members access to over 4,000 shares, Depository Receipts, and ETFs admitted to trading from 18 European countries. BTS, developed on Java, can be downloaded and installed directly on a member’s PC, offering a single point of connectivity to all LSEG markets.
Eric Benedetti, Head of Technology Product Development, LSEG said: “This latest agreement strengthens the offering of the BTS trading solution by providing a direct connection to Turquoise. BTS offers an extremely light and effective front-end solution, giving participants immediate access to the market, but at the same time offers a truly professional and comprehensive set of trading services”.
Robert Barnes, Chief Executive, Turquoise said: “We are delighted BTS has enhanced its offering with access to Turquoise lit and dark order books, increasing visibility and broadening liquidity by offering BTS members and GATElab users, including those in continental and Eastern Europe access to Turquoise.”
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Notes to editors:
BTS front end trading solution
- Trading module: it is the standard configuration used by the Client or by its interconnected clients. It provides trading and market data functionalities on those markets where the Client is authorized to trade
- Supervisor module: in addition to the trading module capabilities, this module allows to supervise the trading users operating within the same member. It allows to monitor and delete orders entered by trading users and to view all trades executed by those trading users or by all Client’s users
- Authorization module: provides a flow control mechanism over all orders entered by BTS services in line with the requirements stated in the Exchange market rules. It allows to enforce operation limits based on different parameters such as the maximum percentage deviation between the order price and the reference price, the max daily amount tradable per instrument/segment/market, etc.
- Quoting module: allows to use advanced functionalities to support Market Maker / Specialist obligations via a quoting tool manually and/or automatically though a pre-configured spreadsheet
- Strategy module: allows to send orders to the market based on pre-defined system algorithms (algo-trading strategies) or customizable upon Client request
- BTS Orders and Trade Reports: the BTS server will generate an ASCII formatted log file on a daily bases with real-time updates. It contains all the information related to the executed transactions through the BTS system
- GFIXOR: The GFIXOR service allows an interconnected Client system to send, modify and delete orders through FIX protocol. The GFIXOR service sends to the Client system the notification messages related to orders and trades executed (unsolicited feed).
Turquoise is the European equities multilateral trading facility majority owned by London Stock Exchange Group in partnership with the user community. Turquoise provides members with a single connection to trade shares, depository receipts and exchange traded funds of 18 European countries with an efficient trading and interoperable post-trade model that delivers economies of scale. Members include banks, brokers, specialist trading firms and retail intermediaries.
Turquoise provides two discrete orders books providing complimentary liquidity. The Integrated Lit Order Book combines simple limit and iceberg orders with Large In Scale hidden orders, and is fully compliant with pre-trade and post-trade transparency obligations. The Midpoint Dark Order Book matches orders pegged to the midpoint Primary Market Best Bid and Offer of the respective European Exchange. Turquoise Uncross™ is the buy-side friendly randomised midpoint uncrossing for larger and less time sensitive passive orders. Turquoise Block Discovery™ is a new service, which further enhances the quality of execution in the Turquoise Midpoint Dark Book by facilitating the trading of larger block orders by matching block indications.
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) is a diversified international exchange Group that sits at the heart of the world's financial community. The Group can trace its history back to 1801.
The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and the pan-European equities platform, Turquoise. Through its markets, the Group offers international business, and investors, unrivalled access to Europe's capital markets.
Post trade and risk management services are a significant and growing part of the Group’s business operations. LSEG operates CC&G, the Rome headquartered CCP and Monte Titoli, the significant European settlement business, selected as a first wave T2S participant. The Group is also a majority owner of leading multi-asset global CCP, LCH.Clearnet.
The Group offers its customers an extensive range of real-time and reference data products, including SEDOL, UnaVista, Proquote and RNS. FTSE calculates thousands of unique indices that measure and benchmark markets and asset classes in more than 80 countries around the world.
London Stock Exchange Group is also a leading developer of high performance trading platforms and capital markets software. In addition to the Group’s own markets, over 40 other organisations and exchanges around the world use the Group’s MillenniumIT trading, surveillance and post trade technology.
Headquartered in London, United Kingdom with significant operations in Italy, France, North America and Sri Lanka, the Group employs approximately 2,800 people.
Further information on London Stock Exchange Group can be found at www.lseg.com.