Schroder Asset Management has become the latest firm to join the Instinet-led consortium backing Tradepoint, the fledgling UK stock exchange.

The company bought 2.5 million shares two weeks ago when Apax Partners, the venture capital firm, sold part of its 16% stake in the consortium. Apax brokered the deal independently of Tradepoint, and Schroder approached the firm within hours to buy the shares.