Turquoise hires former LSE compliance manager Werner

Turquoise hires former LSE compliance manager Werner

Bank-backed equities trading venue Turquoise has added Ian Werner - a former compliance and investigations manager at the London Stock Exchange (LSE) - to its senior management team.

Werner is joining Turquoise as head of legal and compliance.

Until last autumn Werner was the manager of the compliance and investigations team at the LSE where he was responsible for implementing the exchange rules, investigating breaches and enforcing disciplinary processes.

More recently Werner has been providing guidance to the Financial Services Authority on a surveillance system developed by Nasdaq-listed Progress Software and London-based consultancy Detica. Turquoise recently said it would be implementing a similar surveillance system developed by the vendors.

Commenting on the appointment Turquoise chief, Eli Lederman, says: "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 market place."

Turquoise said last week that it had recruited US-based AppLabs to provide testing and quality assurance for its pan-European platform and surveillance system, which is set to launch in September.

The Turquoise platform is being set up by a group of investment banks to compete head-to-head with domestic stock exchanges in Europe following the introduction of the EU's Markets in Financial Instruments Directive (MiFID).

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