Turquoise Derivatives Arm Relaunched Under New LSEG Colors

Turquoise's derivatives arm will be known going forward as London Stock Exchange Derivatives Market, and will operate under Regulated Market of a Recognized Investment Exchange (RIE) rules, allowing its customers to clear and arrange margin more efficiently under new European Market Infrastructure Regulation (EMIR). Its equities derivatives offerings will continue to range among UK, Russian, and Norwegian listings, while its cash equities business remains owns in consortium by LSEG and the handful of investment banks that first launched the low-cost MTF platform in 2008.

The newly-renamed venue will also offer a new contract beginning on October 7, the FTSE UK Large Cap Super Liquid Index (FTSE UK SLQ) futures index product, for which it is already receiving support from BNP Paribas and Timber Hill Europe, among other market makers and leading investment banks supplying client access to the product.

“This marks an important step in growing a strong, diverse derivatives business in the UK," says Nicholas Bertrand, head of equities and derivatives markets at LSEG. "The Super Liquid futures will provide our derivatives customers with an innovative, alternative way to manage risk on the UK equity market."