Chi-X Europe, the operator of a pan-European multilateral trading facility (MTF), has announced the departure of chief financial officer Kevin O'Keefe, as it looks to reshape its management team after being bought by BATS Global Markets.
Kansas-based market operator BATS Global Markets, signed a definitive agreement to purchase Chi-X Europe in February 2011. The deal is currently awaiting approval from the UK's Office of Fair Trading, but has received the go-ahead from regulator the Financial Services Authority. Following the transaction Chi-X Europe will be merged with rival MTF BATS Europe, although the two firms' order books will be kept separate.
O'Keefe will leave the firm after a transition period, once the takeover deal has been completed. He follows Alasdair Haynes, Chi-X Europe's current CEO, who is also due to exit after the acquisition is finalised.
“Kevin's contribution to making Chi-X Europe a success can't be underestimated,” said Haynes. “He was involved with the project from the outset and has played a crucial role in shaping the ownership structure of the company and steering Chi-X Europe into the position of being the first MTF to date to break into profitability.”
Prior to taking the role at Chi-X Europe, O'Keefe was head of international strategy at agency broker Instinet, which owns a one-third stake in the MTF. He is credited with developing Chi-X's ”jump ball' scheme, which offered members that traded above a certain value on the MTF, an opportunity to buy equity in the platform.
“Being part of the team that created, grew and ultimately sold Chi-X Europe has been an incredibly fulfilling experience,” said O'Keefe. “The European stock exchanges landscape has changed beyond all recognition in the last six or so years and I'm very proud to have been part of that change.”