Turquoise, the alternative trading platform majority-owned by the London Stock Exchange, has hit out against the proposed merger between NYSE Euronext and Deutsche Börse, arguing that Europe's competition commission must act immediately to address the concerns created by the mega deal.

Speaking at the Financial News Awards for Excellence in Trading & Technology in London on Tuesday, Adrian Farnham, chief executive of Turquoise, told an audience of 250 trading and technology professionals that Europe's policymakers cannot rely on regulation alone to remedy the competition issues created by the merger.