<abstract><p>Based on the binary product described by any Latin square, the Hadamard quasigroup product is introduced in this paper as a natural generalization of the classical Hadamard product of matrices. The successive iteration of this new product is endowed with a cyclic behaviour that enables one to define a pair of new isomorphism invariants of Latin squares. Of particular interest is the set of Latin squares for which this iteration preserves the Latin square property, which requires the existence of successive localized Latin transversals within the Latin square under consideration. In order to enumerate and classify, up to isomorphism, these Latin squares, we propose a computational algebraic geometry approach based on the computation of reduced Gröbner bases. To illustrate this point, we obtain the classification of the sought Latin squares, for order up to six, by using the open computer algebra system for polynomial computations Singular.</p></abstract>