Turquoise outpaces BATS-Chi-X growth

Turquoise, the London Stock Exchange-owned multilateral trading facility, has increased daily trading on its platform by over a third in the last year, outstripping growth on nearest rival BATS Chi-X Europe.

Turquoise, the London Stock Exchange-owned multilateral trading facility (MTF), has increased daily trading on its platform by over a third in the last year, outstripping growth on nearest rival BATS Chi-X Europe.

According to the MTF’s figures, average daily value traded reached €1.85 billion last month, a 37.5% increase on April 2011’s total of €1.34 billion.

Over the same period, Turquoise has increased its share of pan-European trading to 5.03% from 4.6%, according to Thomson Reuters Equity Market Share Reporter.

By comparison, BATS Chi-X Europe, the dual MTF resulting from the takeover of Chi-X Europe by BATS Global Markets last year, traded an average of €9.13 billion in April, a 7.5% over the €8.49 billion recorded a year earlier.

BATS Chi-X Europe retained its position as the largest pan-European market last month with 24.6% market share, compared with 23.2% a year earlier.

Value traded across all markets in Europe totalled €710 billion last month, just 1% higher than April 2011’s total of €703.2 billion.

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