US stocks to be traded during European trading hours
Turquoise, the trading platform of Europe, has planned to allow trading in 175 US scrips including Citigroup, Apple, and Alcoa. Now the traders will be allowed to buy and sell the American stocks at LSE.
The new initiative is set to be launched next week.
Turquoise, the newly acquired firm, will be the first electronic exchange to allow trading of US stocks in Europe during the European trading hours.
As per David Lester, Chief Executive of Turquoise, the new initiative will create new opportunity for the market makers, spread betting firms, proprietary trading firms and arbitragers.
Meanwhile, the US-based NYSE Euronext too has said that it's currently under the process to launch a similar platform. According to it, the new platform, NYSE Arca Europe, would offer trading in the S&P's 100 index shortly.
The Chief Executive of Turquoise added that the new initiative would build a pool of liquidity, which can be leveraged by institutional brokers for the benefit of their customers.