Chi-X Europe, a pan-European multilateral trading facility (MTF), has appointed Alasdair Haynes as its new CEO, replacing interim chief Mark Howarth.
Haynes was previously CEO of ITG International, the non-US operations of agency broker and trading technology provider ITG, from 2006 to 2009. Before that, he was CEO of ITG Europe for 10 years, where he oversaw the European launch of the POSIT crossing network.
Following his departure from ITG in February, Haynes was rumoured to be in the running to replace Clara Furse as CEO of the London Stock Exchange – a role assumed by Xavier Rolet in May.
“Alasdair brings many years of experience in running technology-leveraged brokerage businesses and trading firms,” said Tony Mackay, chairman of Chi-X Europe, in a statement. “He is extremely well respected within the industry and has excellent relationships with both buy- and sell-side firms in Europe, Asia and the US.”
Howarth stepped in as interim CEO in February 2009 following the departure of Chi-X Europe’s launch CEO Peter Randall for personal reasons. He was previously
chief operating officer, Asia-Pacific, at Chi-X Global, the holding company for the Chi-X businesses worldwide.
Howarth will remain with Chi-X Europe for the next several months to work with Haynes and ensure a smooth transition, after which he will return to Chi-X Global.
“I would like to thank Mark for undertaking the role of interim CEO throughout the selection process,” said Mackay. “Under his leadership we have seen Chi-X Europe’s market share continue to increase, as well as the introduction of numerous new products and services to help our trading participants.”
Since its launch in 2007, Chi-X has become Europe’s largest displayed-order-book MTF by market share. It had a 15.42% share of on-order-book turnover across Europe in the week ending 27 November, according to the Fidessa Fragmentation Index, second only to the London Stock Exchange’s 15.53%.