Turquoise ready to ruffle feathers

The exchange, founded by nine investment banks including Merrill Lynch, Goldman Sachs, BNP Paribas and Société Générale, intends to challenge the likes of established exchanges such as the London Stock Exchange. Turquoise aims to wake up the old guard by being more responsive to the needs of the growing and rapidly evolving European electronic exchange trading market, says Eli Lederman, Turquoise's new chief executive. "The overwhelming majority of trading has been done historically on the i