Turquoise makes AIM stocks available for trading
- New channel of execution for FTSE AIM UK 50 constituents
- Expands Turquoise’s broad universe of over 4,300 stocks from 19 European countries to trading members
- Reflects increasing demand for trading small and mid-caps
- Reinforces Turquoise’s commitment to market innovation
- Block trading mechanism, Turquoise Plato Block Discovery™ celebrates its third anniversary
Turquoise, a leading pan-European MTF today announces that the constituents of the FTSE AIM UK 50 index are now available to trade on its platforms. This follows the successful application by Turquoise to become an approved AIM Secondary Market Registered Organisation (ASMRO). The FTSE AIM UK 50 is made up of the fifty largest UK stocks quoted on AIM, LSEG’s international growth market. The move comes as a result of demand from Turquoise customers and reflects a growing appetite for efficient access to trade small and mid cap stocks from the institutional investor community.
Turquoise members, which include global banks, domestic brokers, specialist trading firms and retail intermediaries, will have access through a single connection to trade securities that are included in the FTSE AIM UK 50 index including household names such as FeverTree Drinks and ASOS.
The addition of these securities to Turquoise expands the platform’s already broad universe of over 4,300 stocks across 19 major European markets. It will further enhance institutional investors’ access to trade the largest AIM companies.
Investors trading in FTSE AIM UK 50 securities through Turquoise will benefit from the same innovations available when trading in companies listed on London Stock Exchange’s Main Market, including Turquoise Plato Block Discovery™ and Turquoise Lit Auctions™. In conjunction with LSEG’s Open Access philosophy, members will also be able to choose where to clear their trades, at one of three interoperable clearing houses.
Matthew McLoughlin, Head of Trading at Liontrust Asset Management:
“Turquoise has established a track record of customer engagement and innovation. As a key stakeholder in UK Mid and Small Caps, we are pleased that Turquoise continues to expand its offering by providing a new channel of execution for FTSE AIM UK 50 constituents”.
Robert Barnes, CEO, Turquoise:
“Expanding Turquoise’s already broad universe of over 4,300 stocks to include fifty of the largest AIM UK companies will give our customers access to AIM’s high-growth companies, further extending the reach of AIM and re-enforcing our Open Access philosophy. Investors in AIM 50 securities now have access to the full suite of Turquoise execution channels that are available for UK listed securities on Turquoise, including those in the FTSE 100 and FTSE 250.
“Turquoise has a strong track record of innovation as demonstrated by its Turquoise Plato Block Discovery service, which celebrates its third anniversary this week. With three years of empirical data, investors can have confidence that they are likely to achieve best execution on a consistent basis with average trade sizes above Large In Scale in blue-chip stocks more than 100 times larger than average for dark pool trading”.
Turquoise Plato Block Discovery™, Turquoise Plato’s electronic block trading service, is celebrating its third anniversary. Key statistics include:
- Average trade size of €281,000 (28x larger than average); average trade size of blue-chip stocks of more than €1 million (100x larger than average)
- Over €43 billion has matched over since launch in October 2014; over €34 billion has been matched in 2017 alone
- A record €6 billion was processed in September 2017
- €436.1 million was matched on 27 July 2017
- Ends -
For more information:
Rhiannon Davies / Alex Ritterman
+44 (0)20 7797 1222
Further information on trading AIM securities on Turquoise can be found online: www.lseg.com/turquoise/aim
Turquoise is the European multilateral trading facility majority owned by London Stock Exchange Group in partnership with the user community. With a single connection, members can trade shares, depository receipts, ETFs, and European Rights Issues of 19 European countries with an Open Access model that allows members to choose among 3 interoperable CCPs to clear these trades. Members include banks, brokers, specialist trading firms and retail intermediaries.
Turquoise features two electronic orders book services. Turquoise Integrated Lit combines simple limit and iceberg orders with Large In Scale hidden orders. Turquoise Midpoint Dark, renamed Turquoise Plato™, prioritizes orders by size and allows users to configure Minimum Execution Size; it features two distinct mechanisms, each executing at the midpoint of the Primary Market Best Bid and Offer: continuous matching and Turquoise Plato Uncross™, an innovation that provides randomised uncrossings during the trading day, ideal for larger and less time sensitive passive orders. Turquoise Plato Block Discovery™ matches undisclosed Block Indications that execute in Turquoise Plato Uncross™.
Turquoise Plato Dark Lit Sweep™ is an order that interacts firstly with the Turquoise Plato™ order book at the primary midpoint price and then continues to interact with any balance resting in Turquoise® Integrated Lit.