LSE to buy Turquoise, MiFID to be reviewed?

Recall that there was a day not so long ago when people were really optimistic about Turquoise. The MTF facility grabbed a lot of headlines and it did manage to steal about 7 percent market share, thanks in large part to the big broker dealers who owned it. They threw a lot of volume its way. Turquoise certainly gave the London Stock Exchange fits. It was not alone of course. Chi X was likewise an irritant, but some U.S. firms also jumped, notably Nasdaq OMX and BATS. Collectively, the upstarts forced the LSE to cut fees.

Now comes news from Reuters that after suffering some widely known financial woes, Turquoise is ready to sell out, and the leading candidate appears to be the LSE. In general, regulators in the EU, perhaps taking a cue form the U.S. counterparts, will be taking a hard look at MiFID issues, with an eye on the trades that have migrated to dark venues.

For more:
- here's the Reuters article

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