22 February 2017
Visit experienceinfosys.com

LSE completes acquisition of Turquoise Derivatives

30 September 2013  |  1748 views  |  0 Source: London Stock Exchange plc

London Stock Exchange plc has today completed its acquisition of Turquoise Derivatives, the derivatives business of Turquoise Global Holdings Limited ("Turquoise").

The platform has been renamed London Stock Exchange Derivatives Market.

The market now operates as part of a Regulated Market of a Recognised Investment Exchange (RIE), allowing customers to improve the efficiency of their clearing and margin arrangements in light of the requirements under the European Market Infrastructure Regulation (EMIR).

From 7 October 2013 a new contract, FTSE UK Large Cap Super Liquid index (FTSE UK SLQ) futures will be available to trade on the platform. The index, which is designed and managed by FTSE Group, selects the most liquid stocks from within each industry in the FTSE UK large cap index. A number of market makers, including BNP Paribas and Timber Hill Europe, have committed to supporting the new product. Other institutions including Barclays, Goldman Sachs and Nomura have confirmed they will provide client access to the product. The new contract is eligible for cross-margining with FTSE 100 index futures offered on the same trading venue. The new derivatives market will continue to offer trading in a range of UK, Russian and Norwegian equity derivatives.

Nicolas Bertrand, Head of Equity and Derivatives Markets at London Stock Exchange Group, said:

"This marks an important step in growing a strong, diverse derivatives business in the UK. The Super Liquid futures will provide our derivatives customers with an innovative, alternative way to manage risk on the UK equity market.

"From a Group perspective, this builds on the successful progress of our Italian market, IDEM, which has seen the roll out of a number of new products in recent months, including durum wheat futures, and single stock dividend futures."

Sudir Raju, Managing Director at FTSE Group, said:

"The FTSE UK Large Cap SLQ index reflects the performance of leading UK stocks, with a focus on liquidity and ease of replication. It represents a further expansion in the type and range of innovative and transparent products FTSE is helping trading participants to access." 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit Yelloco.co.uk

Top topics

Most viewed Most shared
IBM and Visa join forces to turn billions of connected devices into points of saleIBM and Visa join forces to turn billions...
18661 views 11 comments | 55 tweets | 91 linkedin
EBA to relax controversial PSD2 authentication rulesEBA to relax controversial PSD2 authentica...
9341 views comments | 48 tweets | 67 linkedin
Kevin the bot uses blockchain to offer insurance for P2P transactionsKevin the bot uses blockchain to offer ins...
8749 views comments | 18 tweets | 15 linkedin
RBS to become fintech fund and high street outlet for challenger banks under HMT remedyRBS to become fintech fund and high street...
7450 views comments | 37 tweets | 33 linkedin
Standard Chartered connects corporate customers to WeChatStandard Chartered connects corporate cust...
6007 views comments | 17 tweets | 19 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job