Turquoise confirms management team
Turquoise, the pan-European MTF, today confirmed the members of its new management team following completion of its merger with Baikal.
Adrian Farnham will be Chief Operating Officer; Natan Tiefenbrun will be Commercial Director; Mark Ryland will be Head of Technology; and Anthony Ball will be Chief Financial Officer.
David Lester, Turquoise Chief Executive Officer, said:
“I am pleased to confirm Adrian, Natan, Mark and Anthony in their new roles. They bring with them a wealth of experience from roles at the previous Turquoise and Baikal operations, and from backgrounds in the broader trading environment before that. I look forward to working with them in this exciting next phase of Turquoise’s development, and am confident that together we will build an efficient operating unit which will deliver a range of pan-European products and services that clients want.”
Adrian joined Turquoise in December 2007 from Morgan Stanley. Natan was Commercial Director of Baikal having previously worked for XConnect and Instinet. Mark Ryland was Head of Technology at Baikal and joined from SWX Europe where he was COO. Anthony joined Turquoise in 2008, before which he worked for City Index, Abn Amro and Kleinwort Benson.
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Turquoise Services Limited (Turquoise) is an authorised investment firm, regulated by the Financial Services Authority providing pan-European lit and dark equity trading. Since February 2010, Turquoise has been majority owned by London Stock Exchange Group.
The Turquoise MTF comprises the Integrated Book and Midpoint Book, each covering some 1,700 securities over 17 countries. Unique functionality in the Integrated Book combines visible and non-displayed orders to deliver increased likelihood of execution and price improvement. The Midpoint Book is a non-displayed execution service where trades execute at the midpoint of the bid-ask spread. Non-displayed orders in the Turquoise MTF qualify for pre-trade transparency waivers specified by MiFID and are subject to immediate post-trade transparency.
TQ Lens, Turquoise’s liquidity aggregation service parses incoming orders and distributes them according to a series of sophisticated algorithms to otherwise inaccessible, fragmented liquidity sources. As such, it mediates access to the multiple liquidity partners via a single, independent connection.
Users of the Turquoise MTF and TQ Lens benefit from fully risk-managed clearing solutions, and industry-leading market surveillance to ensure fair and orderly operations.
Membership is uniformly open to qualified firms, with members today ranging from the largest global banks and brokers to institutions with local, regional and sector focus, and specialist trading and market-making firms.