The pressure on EuropeÃ¢ÂÂs largest stock exchanges increased this morning after Turquoise, the trading system backed by nine investment banks, went live and Nasdaq OMX, the transatlantic exchange, announced a plan to launch a London-based listing service.

Turquoise, which has announced a series of soft launches over the last month, went fully live this morning at 07:00 GMT, offering customers the ability to trade 1200 stocks in 13 European markets.

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Pimco’s European business suffers almost 40% profit drop as performance fees slump

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Pressure on European exchanges increases

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