How to build a market:
a ten-year case study
Download our case study to reflect back on ten years of market evolution, changing client needs and the way in which Turquoise has responded.
Turquoise was an idea in 2006. Trading launched in 2008. By 2015, in less than 10 years, customers surpassed €1 trillion a year and selected Turquoise as the preferred partner for electronic block trading. This anniversary provides an opportunity to reflect on the evolution of European Equity Trading.
Download our case study to reflect back on ten years of market evolution, changing client needs and the way in which Turquoise has responded.
Dr Robert Barnes
CEO of Turquoise and Global Head of Primary Markets
London Stock Exchange Group
Rochelle de Friend
COO Turquoise and COO LSE Equity & Derivatives Markets
London Stock Exchange Group
Sir Alan Yarrow
Chairman of Turquoise
Nicolas Bertrand
Director of Turquoise and Global Head of
Derivatives Markets
London Stock Exchange Group
Raffaele Jerusalmi
CEO of Borsa Italiana and
Director of Capital Markets
London Stock Exchange Group
Tom Stenhouse
Head of Product
LSE Cash Secondary Markets and Turquoise
London Stock Exchange Group
Scott Bradley
Head of Sales and Marketing
LSE Cash Secondary Markets and Turquoise
London Stock Exchange Group
Michele Troiani
Head of UK and Continental Europe Buyside Relationship Management
Turquoise and LSE
London Stock Exchange Group
Øyvind Schanke
Ex CIO of Norges Bank and
co-founder of
Plato Partnership
Mike Bellaro
CEO of Plato Partnership
Just a decade on from inception, Turquoise offers a broad universe of 4,500 stocks with uniform access to 19 major European and emerging markets, as well as US stocks, IOB Depositary Receipts, ETF’s and European Rights Issues - all through one interface and membership.
Project Turquoise announced 15 November
Turquoise launched in 2008 with lit order book
LSEG acquires 51% 2010
Branded Turquoise Uncross™ as the industry leader of quality midpoint execution, credentialised by LiquidMetrix, the independent venue performance analytics firm
Launch of original Turquoise Block Discovery™ service
€1 trillion+ traded for first time in a single year
Turquoise wins the 2015 Financial News Award for Excellence in Trading and Technology for Most Innovative Trading Product / Service: Turquoise Block Discovery™
Turquoise CEO addresses the IOSCO Board and Financial Markets Stakeholders by invitation
Turquoise named preferred partner by Plato Partnership following intensive selection process of 20 firms
Turquoise enters Cooperation Agreement with Plato Partnership and launch of Turquoise Plato™
Turquoise wins the TRADE Leaders in
Trading Award for Block Trading Venue
Turquoise in December launches Turquoise Plato Lit Auctions™
Turquoise granted licences by Regulators in
Hong Kong and Dubai
To all our customers, shareholders and stakeholders; and to all our partners, clearing houses and settlement entities... Thank you for this remarkable journey.
Let's continue to grow together and look forward to the next 10 years. We're still listening.
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Turquoise is honoured to feature in The Parliamentary Review 2018 as Finance sector example “Highlighting best practice” as industry leader through innovation and partnership. Thank you to our customers.
“ The volume growth of Turquoise Plato Block Discovery™ reflects Turquoise’s dedication to serving client needs. Today, our partnership with Turquoise is stronger than ever, but we must all continue to challenge ourselves to deliver excellence and innovation market structure design.”
Mike Bellaro, CEO, Plato Partnership.
Click on the link below to watch Scott Bradley, Head of Sales and Marketing, LSE Cash Secondary Markets and Turquoise,
London Stock Exchange Group, discuss the truly multilateral nature of Turquoise Plato Lit Auctions™.
Deutsche Bank Garth Ritchie, Goldman Sachs Phil Hylander, UBS Robert Barnes & Nick Holtby travel to Brussels to speak with European Commissioner for Competition Neelie Kroes. She encourages launch of Turquoise.
9 investment banks were part of the initial project: Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, Merrill Lynch, Morgan Stanley, UBS and Société Générale. Today includes Barclays, JP Morgan and Nomura.
Turquoise open access post trade model offers members a choice of three interoperable CCPs:
Since September 2018, Turquoise offers LCH SA as sole CCP for Euronext Growth Stocks.
Approved in September 2017 by the FCA, Turquoise Plato Lit Auctions™ launch in December 2017 - providing the next intraday trading innovation in partnership with customers. Turquoise Plato Lit Auctions™ subsequently grew its activity from €1m traded value (January 2018) to more than €1bn (June 2018).