December 2007
Trading: Turquoise starts to take shape
After months of silence and little sign of progress, Project Turquoise, an initiative started by a consortium of seven leading investment banks to create a pan-European multilateral trading facility, has started to take some concrete steps and gain credibility.
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"Our market will have a ‘lit’ order book with a dark pool behind it and will offer users the possibility of matching between the two"
Eli Lederman, Project Turquoise |
Months after Chi-X, a rival MTF run by Instinet, began operations, the consortium behind Project Turquoise has announced the appointment of a CEO and management team, led by Eli Lederman, CEO, and Adrian Farnham, COO, two executives from Morgan Stanley’s electronic trading business. Project Turquoise this November also announced the appointment of a chief technology officer, Yann L’Huillier, the former chief information officer of the Boston Stock Exchange, and its chosen technology partner, Synober, which was also the chosen partner of Project Boat,...
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