The London Stock Exchange has been battered by competition and technology snafus as of late, leading many to question the viability of the venerable exchange in the MiFID era. But the exchange has struck back with a deal to buy Turquoise, the type of technology driven, pan-European service that was giving it fits not too long ago. So it falls to the new leadership, led by Xavier Rolet, at the LSE to make Turquoise a success after the original management team failed.

Some might say the deal is a case of the LSE buying into a dark pool-like service--if you can't beat 'em, then join the 'em--to complement a new system developed by a Sri Lankan technology firm. But the implications are more wide-ranging perhaps. Is a bond platform in the offing? We'll see how this affects market share at the LSE and other alternative trading systems.    

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