Turquoise: Where’s the chief?

Five months ago, a group of investment banks said they were setting up Turquoise, a lower-cost alternative to trading equities on Europe’s exchanges. London Stock Exchange, Euronext, and Deutsche Boerse shares were all hit when the news broke. But then the new venture went quiet. Now, Turquoise has finally put a little more flesh on the bones: it has signed up EuroCCP, a unit of US-based Depository Trust and Clearing Corporation, to provide clearing services. Although DTCC is relatively unknown...