London Stock Exchange Group (LSEG) today announces the launch of its new Sponsored Access service designed for latency efficient connectivity to the London Stock Exchange (LSE) and Turquoise operated order books.
The new service allows non-members a direct connection to LSEG's electronic orders books using the trading codes of a Sponsoring Firm. These Sponsored Users, as a consequence will be able to execute low latency strategies on the London Stock Exchange as well all pan-European lit and dark order books operated by Turquoise. This will include FTSE100 and FTSE250 stocks, International Order Book, ETFs, ETCs and all central counterparty cleared securities.
Nicolas Bertrand, Head of Equity and Derivatives markets at London Stock Exchange Group:
"We are delighted to be introducing our new Sponsored Access product to the Group's markets today. This provides real time access to a wider range of investors and contributes to the development of more liquid and diversified order books.
"Following the migration of the LSE and Turquoise cash markets onto Millennium Exchange, the flexibility of the system has given us greater scope for product development of this type. This initiative is part of our ongoing commitment to give greater access to our markets and to expand our product offering for investors."
Sponsored Users will pass through a set of Exchange Level Controls which will intermediate the flow on behalf of their Sponsoring Firm. In addition to these controls, Sponsoring Firms are provided with a drop copy1 service in order to monitor the Sponsored Users activity.
LSE and Turquoise markets currently deliver some of the world's fastest average latencies of less than 125µs. Sponsored Users will have a choice of connectivity options ranging from ultra-low latency exchange hosting, Extranex and third party network providers.
The following firms have already submitted LSE application forms or are testing the new service in our CDS environment.
- Barclays Capital
- Deutsche Bank
- Otkritie
- Renaissance Capital
