Thursday April 13 2023
News Source: Global Exchanges
Focus: Trading Systems and Technology
Type: General
Country: UK
On 13th April 2023, London Stock Exchange Group (LSEG) announced the launch of a new innovative trading service, Turquoise Retail Max. The service is designed to support European retail brokers in meeting their best execution obligations and deliver price improvement for end retail investors when trading pan-European securities. Turquoise Retail Max is available through Turquoise Europe, the pan-European trading platform majority owned by LSEG in partnership with the user community.
Accessible though the Turquoise Plato Lit Auctions order book, Turquoise Retail Max enables retail brokers on Turquoise Europe to meet their best execution obligations on pan-European securities through a competitive multilateral auction process, with the benefit of efficient processing from trading through to clearing and settlement. Orders flagged as originating from a retail investor can achieve best possible outcomes by utilising a price formation mechanism based on liquidity provided by both specialist retail liquidity providers and all other market participants. By creating this new service, Turquoise Europe is extending the benefit of price improvement on aggressive and passive orders to retail orders.
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