Pan-European trading platform Turquoise’s market share of the 310 stocks trading in its integrated market hit 5.36% on Friday 7 November, beating its forecast of achieving 5% by year-end.
The integrated market is a group of the most liquid stocks across the 14 European countries where Turquoise operates. These stocks trade both on Turquoise’s displayed and non-displayed order books.
Turquoise CEO Eli Lederman said in a note to Turquoise users on Friday that the platform had exceeded its target despite tough conditions. “In developing our young business we’ve had to confront a very difficult market environment, so we are especially grateful for your support in helping us reach these levels,” he said. “To have done so ahead of our year-end forecast is, again, hats off to you.”
Lederman added that Turquoise had also achieved record levels in its non-displayed, or ‘dark’,
order book, but did not provide any figures. “As cross rates continue to rise, we’ll keep you posted on the value our members derive from the differentiated functionality in this part of our market,” he said.
On Friday Turquoise grabbed a 7.16% share of trading on France’s CAC index, a 6.93% share of Switzerland’s SMI, a 5.99% share of the Netherlands’ AEX, a 5.35% share of Germany’s DAX and a 5.19% share of the UK’s FTSE. It also garnered a 3.15% share of Italy’s MIB index and 1.91% of Sweden’s OMX. The market share figures include the closing auctions of the incumbent exchanges in the relevant countries.