Project Turquoise, the trading facility set up by nine large European investment banks, has appointed Yann L’Huillier, CIO at the Boston Stock Exchange, as its new chief technology officer.

L’Huillier will report directly to Eli Lederman, the recently appointed chief executive of Project Turquoise.

L’Huillier has also worked at the Toronto Stock Exchange, and before that he was at electronic communications network the BSX Group and the LeveL Alternative Trading System.

A tight turnaround will see him start on 25 November at Turquoise’s London office. Eli Lederman, chief executive at the project, said Turquoise had "moved quickly" to hire L’Huillier because of its "determination to move decisively in the coming weeks and months to get to market with a first-rate trading venue".

Lederman said L’Huillier’s design vision, commercial orientation and record of project execution would enable Turquoise to deliver the platform “in an aggressive timeframe”. He added that L’Huillier had “a first rate understanding that stability, latency, throughput and functionality are the technical competitive requirements that will differentiate Turquoise”.