BOSTON, MA, April 24, 2025 – LSEG today announces the launch of a partnership between its pan-European trading platform Turquoise and US-based trading marketplace LeveL Markets, which operates the Luminex platform. Under the partnership, Turquoise will offer a new block Manual Conditional Order Type to buy-side and nominated broker members. The new order type will be accessible to buy-side trading desks through Luminex’s GUI and connects to nominated brokers on the Turquoise Plato Block Discovery™ trading service (MICs: TRQM and TQEM).
Benefiting from Turquoise’s pan-European presence and award-winning block trading services alongside Luminex’s technology capabilities and extensive buy-side network, the Manual Conditional Order Type enables trading participants to have greater control over their larger block orders and to seek liquidity with reduced market impact by self-directing orders to Turquoise, allowing buy-side firms to find both buy-side and sell-side counterparties. The new offering is expected to go live in H2 2025, subject to regulatory approval.
Adam Wood, CEO, Turquoise Global, said:
“We are delighted to partner with LeveL Markets to expand our dark trading offering on Turquoise and to launch our new solution for large block trading. This further underlines our commitment to providing our members with diverse sources of liquidity and working with the market to deliver increased efficiencies and functionality across our equity trading services.”
Steve Miele, CEO, LeveL Markets, LLC, said:
“With the launch of this exciting partnership with Turquoise, we are able to further deliver on our purpose to satisfy the liquidity needs of buy-side firms. Through our trading solutions and Turquoise’s new block Manual Conditional Order Type, this collaboration will enable users to source further block liquidity while reducing market impact.”
Contacts
LSEG Press Office
Nandeep Roopray
+44 (0)20 7797 1222
Notes to Editors
The Luminex platform – launched by the buy-side for the buy-side – provides customers with a robust suite of tools through its proprietary user interface, which is an anonymous, non-quoted trading destination designed to source block liquidity while reducing market impact. LeveL Markets is a US equities marketplace, trading solutions provider, and the broker-dealer owner and operator of the LeveL and Luminex Alternative Trading Systems. With a focus on client service, efficient trading execution, and disruptive trading technology, LeveL Markets provides a solutions-driven, effective platform for equities trading with a deep pool of buy-side and sell-side liquidity. Learn more about LeveL Markets at www.levelmarkets.com.
Turquoise is a pan-European trading platform, majority-owned by LSEG in partnership with the user community. It offers members access to 4,500 securities across 20 countries, including the UK, Switzerland and the US. With a single connection, members can trade shares, depository receipts, ETFs, and European rights issues with an open model approach (supporting interoperability and preferred clearing models) that allows members to choose among three central counterparties to clear these trades. Learn more about Turquoise on our website.
About LSEG
LSEG (London Stock Exchange Group) is a leading global financial markets infrastructure and data provider, playing a vital social and economic role in the world’s financial system.
With our open approach, trusted expertise and global scale, we enable the sustainable growth and stability of our customers and their communities. We are dedicated partners with extensive experience, deep knowledge and a worldwide presence in data and analytics; indices; capital formation; and trade execution, clearing and risk management across multiple asset classes.
LSEG is headquartered in the United Kingdom, with significant operations in 65 countries across EMEA, North America, Latin America and Asia Pacific. We employ over 26,000 people globally, more than half located in Asia Pacific.
LSEG’s ticker symbol is LSEG.