Hirander Misra, formerly chief operating officer at Chi-X Europe, has resigned as CEO of low-latency trading technology vendor Algo Technologies.
A replacement for Misra has not yet been confirmed. Vladimir Parizhsky, the firm's global chief technology officer, will assume Misra's day-to-day responsibilities.
“Effectively immediately I am resigning from my position as chief executive officer of Algo Technologies to pursue other opportunities. I will remain a board director and shareholder in the firm and continue to support its mission,” said Misra in a statement.
Misra said he has been approached to provide consultancy services to a European trading venue and a broker-dealer ahead of the reforms to the European equity trading landscape under MiFID II. Misra told theTRADEnews.com he hopes to be involved in the development of new products and services in response to regulatory change.
Misra was co-founder of Algo Technologies in March 2010, helping to form the company in conjunction with US technology and high-frequency trading firm ALGOEngineering less than a month after his departure from pan-European multilateral trading facility Chi-X Europe.
Algo Technologies offers products including AlgoData, a high-speed market data delivery solution, AlgoM2, which it claims is the world's fastest matching engine and AlgoSpan, a low-latency network used by algorithmic and high-frequency traders.