Eli Lederman, who led the Turquoise until the London Stock Exchange bought the share of trading in February, claiming the conduct of the London Stock Exchange was "unacceptable and unreasonable" leading up to his departure. It has also objected to the restrictions imposed on him during the so-called gardening leave.
In a statement, Mr. Lederman said he decided to continue the LSE "when it became clear that the other members of the Turquoise team were also pursuing claims against the LSE". He argues that the restrictions imposed on him after his dismissal were a "deliberate" and "blatant usurpation of rights".
The case will be heard before a London employment tribunal Court on Thursday. Judicial proceedings are likely to reveal details of the exchanges between Turquoise and the London Stock Exchange prior to the acquisition.
Turquoise was founded in November 2006 by seven investment banks including Deutsche Bank and Goldman Sachs as a commercial alternative to the largest stock of Europe. The trading platform went live a few days after the collapse of Lehman Brothers, who sent falling global equity markets.
Mr. Lederman was replaced as Chief Executive Officer of former Chief of the information of the LSE David Lester, who continues to head the company.
The London Stock Exchange refused to comment on.
The stock market is in the process of a merger of 4 £ 5.3 with Canadian rival TMX.
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