A few days after Turquoise announced it has raised new funding from its existing backers to see it through to the end of 2009, the FT reports that the pan-European equities trading facility has announced incentives for traders using its platform in a further sign of the price war in European share trading.
The FT article states that Turquoise will attempt to attract more such traders, sometimes referred to as “electronic liquidity providers”, by raising the rebates it will pay them for posting bids on the Turquoise order book. Click here for the firm's press release.
Last week a Reuters' report said the London Stock Exchange forecast a difficult 2009. The article said that analysts remain cautious on the outlook of the exchange. One analyst citation predicts that MTFs have made in-roads into UK equities trading and they are likely to drive down pricing.
This morning BATS Europe announced a pan-European market share display available free via its public Web site. MarketWatch reports that BATSEurope is the first MTF to provide this data publicly and free of charge. The display provides near real-time notional value and volume summaries for BATS Europe, as well as other major European exchanges and MTFs.