Half of all share trading in Europe will be performed on alternative venues by the end of this year, according to the chief executive of a key rival to established stock markets. His comments came a day after two of the largest exchanges in the region reported collapses in January trading volumes.

Eli Lederman, chief executive of Turquoise, told delegates at a Securities Industry and Financial Markets Association conference in London yesterday that half of all equity trading in Europe will be executed on alternative venues "by the end of 2009".