Turquoise, the multilateral trading facility (MTF) being set up by nine leading investment banks, has hired Ian Werner as head of legal and compliance. He will join the management team later in February. His appointment fills the last major vacancy in Turquoise’s management team, and will allow the MTF to complete its regulatory filing with the UK Financial Services Authority (FSA).
Until the third quarter last year, Werner was manager of the compliance and investigations team at the London Stock Exchange (LSE), where he was responsible for implementing the rules of the LSE, investigating rule breaches and enforcing the disciplinary process.
More recently he has been providing guidance to the FSA on its surveillance system, similar to the one recently announced by Turquoise.
“For those using it, the integrity of a trading platform is a vital element in gaining the trust of the whole marketplace,” says Werner. “I am thrilled to be associated with Turquoise and I look forward to working with the team in ensuring that the company’s business is delivered to the highest standard possible.”?
Eli Lederman, Turquoise’s CEO, adds, “Turquoise has a duty to operate an orderly market and Ian’s proven abilities and experience will ensure we comply fully with our responsibilities to the marketplace.”