Hirander Misra has resigned as chief operating officer of pan-European multilateral trading facility Chi-X Europe less than two months after missing out on a chance to become CEO of the firm.
Misra, one of the founding directors of Chi-X Europe, was widely considered to be one of the leading contenders to replace former CEO Peter Randall, who stepped down in February last year. Misra resigned on 19 February.
Alasdair Haynes, formerly head of agency brokerage ITG International, took the reins from interim CEO Mark Howarth – another contender Chi-X Europe’s top position – at the start of 2010.
Misra now intends to pursue other interests, according to a statement seen by theTRADEnews.com.
“I have thoroughly enjoyed my involvement with Chi-X Europe from inception through to the present day where it is now firmly established as a major pan-European trading venue,” read Misra’s statement. “During that time I have had the pleasure of working with a very talented team and wish the firm all the best for the future.”
Prior to his time at Chi-X Europe, Misra was head of agency broker Instinet’s European exchange linkages group, which developed the firm’s direct exchange connectivity product suite and smart order router. Instinet, Chi-X Europe’s parent firm, is owned by Japanese investment bank Nomura.
In January 2010, Chi-X Europe accounted for 16.1% of pan-European liquidity making it the largest MTF and the third-largest European trading venue, according to data vendor Thomson Reuters.