Chris Concannon, executive vice president of US transaction services at exchange group Nasdaq OMX, will leave the company on 30 April to join Virtu Financial, a newly-formed proprietary trading firm, as a partner.
Concannon joined Nasdaq OMX in 2003 from Instinet Clearing Services, a division of agency broker Instinet. During his time at the exchange, he has overseen and integrated several acquisitions, including alternative trading platform BRUT, Instinet’s ECN business, the Philadelphia Stock Exchange and the Boston Stock Exchange. He led the initiative to grow market share in the trading of NYSE-listed securities, increasing the Nasdaq Stock Market’s share more than fifteen-fold since 2005. He also oversaw the launch of two new markets, Nasdaq OMX Europe and the Nasdaq Options Market, acting as CEO of the former until the appointment of Charlotte Crosswell.
“Chris has played a major part in our growth and success over the last six years and he has been a trusted and valued partner,” said Bob Greifeld, CEO of Nasdaq OMX, in a statement. “His entrepreneurial, competitive style has served us well and we wish him much success as he pursues a new and different path.”
Concannon added, “My time at Nasdaq OMX has been both personally and professionally fulfilling. I have watched Nasdaq OMX grow from a single cash equity exchange into the world’s leading global marketplace.”