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Turquoise Global and LeveL Markets have partnered to introduce a new order type, a “Manual Conditional Order Type,” aimed at improving block trading for buy-side and broker clients.
Here’s a breakdown of what this means:
* New Order Type: The “Manual Conditional Order Type” will be available on Turquoise.
* Unique Liquidity: This partnership seeks to provide access to “unique liquidity” by connecting Turquoise’s pan-European reach with LeveL Markets’ US buy-side network and technology, specifically through the Luminex platform.
* Buy-Side Focus: The new order type is designed to give buy-side trading desks greater control over their large block orders. They will be able to connect to nominated brokers on Turquoise’s Plato Block Discovery service via the Luminex interface.
* Reduced Market Impact: A key goal of this collaboration is to allow users to source block liquidity while minimizing the impact of large trades on the market.
* Timeline: The new offering is expected to go live in the second half of 2025, pending regulatory approval.
In essence, this partnership leverages the strengths of both platforms to create a new way for institutions to trade large blocks of shares across the Atlantic with more control and potentially less market disruption.

Video courtesy of Eurex

Video courtesy of Eurex