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London Stock Exchange reveals Turquoise investment

As expected, the London Stock Exchange has today confirmed it has taken a majority stake in alternative trading platform Turquoise, a venture which many people had believed would initially cause concerns for the London Stock Exchange. However, after £40 million start-up costs and £15 million of losses the banks behind the venture have effectively given up and handed control to the London Stock Exchange.

The London Stock Exchange will now market the Turquoise trading platform as a "neutral venue" and invite banks to take a further 9% stake in the operation. To all intents and purposes the London Stock Exchange has closed off this particular threat and added a new branch to its ever growing operations. Many people will be surprised that those behind the Turquoise venture have thrown in the towel so soon but at the end of the day the London Stock Exchange is by far and away more dominant than this particular venture could ever be.

However, the London Stock Exchange is still on red alert for bid approaches and merger discussions after becoming a target for many overseas exchanges. Whether further investment in new platforms and complementary companies will change the perspective some investors have about the London Stock Exchange remains to be seen.

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