Turquoise expands investor access to US share trading with new business segment

Through the US business segment, the Turquoise Lit Order Book will support the trading of US financial instruments during UK trading hours and be cleared through LCH.

The London Stock Exchange Group’s (LSEG) Turquoise has launched a business segment aimed at expanding investors access to US share trading during UK market hours.

As part of the expanded US remit, the Turquoise Lit Order Book will now support the trading of US financial instruments including cash equities, US listed exchange traded funds and American depository receipts,  in a bid to expand the range of global investors able to access the market.

The exchange group said the new segment would allow investors globally to trade a wider variety of US stocks through one connection alongside its existing offerings in UK, Swiss and European securities.

Importantly, it also highlighted that the overlap between the UK and other regions’ time zones including Asia would allow for investors in Asia to trade US shares more easily.

Trades can take place between 8am and 4:30pm UK time to offer a longer overlap with Asian and US trading hours.

Brokers will be able to send client orders in US equities from 3pm in key Asia time zones for matching on the Turquoise platform with settlement in the Depository Trust Company (DTC) available via electronic straight through processing, and clearing offered by LSEG’s clearinghouse LCH.

Turquoise confirmed that access to the new functionality had become available immediately to clients requesting access to the US market via its Customer Development Service (CDS), with a planned launch into production on 5 October.

“The tool will give investors a greater access to a wide range of global securities of the main UK, Swiss, European and US markets. It will allow them to trade based on more information, at a greater speed and at a reduced cost than they have been able to before,” said Dr Robert Barnes, group head of securities trading and chief executive at Turquoise Global Holdings.

“The expansion also means the global investor community can trade on securities from nearly anywhere in the world at a time that suits them. Using Turquoise an investor in Asia can trade a US stock like Apple from 6 ½ hours ahead of the US market open.”