LONDON, Feb 1 (Reuters) – The London Stock Exchange will join forces with banks to operate alternative trading venue Turquoise, the exchange’s chief executive said on Monday.
“The London Stock Exchange will be shortly launching an initiative, a cooperative partnership between wholesale market participants and the exchange under the name of Turquoise,” LSE Chief Executive Xavier Rolet said.
It will handle both “lit” order book and “dark” or anonymous trading within the same regulated venue, Rolet said.
The LSE’s planned “dark pool” Baikal is being merged with Turquoise, Rolet told an industry event.
“We will offer an exchange operated multilateral trading facility with full MiFID transparency,” Rolet added, referring to a set of EU rules that oversee securities trading.
