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LSE rival Turquoise sets a date to go live
Evening Standard 4 Jun 2008
Turquoise, the share-trading platform set up by nine investment banks to rival the London Stock Exchange, will go live in just three months.
Chief executive Eli Lederman, a former Morgan Stanley banker, said it will start operating on 5 September after a soft launch in August. It is one of three alternative trading venues launching in September - BATS and Nasdaq OMX are the other two - and follows the emergence of Chi-X.
The wave of new competition will put pressure on the LSE, which analysts warn is already feeling the heat from a drop-off in flotations in the bear market.
LSE shares hit a three-year low of 9581/2p this week, having peaked at 1979p around New Year.
