Tradepoint turnover triples as loss increases

NEWS The fledgling rival to the London Stock Exchange reported losses up to £7.63m for the first half-year, compared to £4.29m for the same period last year. Turnover has tripled to £1.64m. The company spent £1.93m on a new platform. The two recently merged exchanges plan to launch a pan-European exchange called virt-x in March. It will include Tradepoint's European offering, launched in July, and cover all trading in Swiss blue-chip stocks. Tradepoint claims the merger will add £1.5bn in daily volumes and generate an additional £39m in annual revenue.