The London Stock Exchange group has hired an ex-NYSE Euronext executive to head its technology division prior to its planned migration to a new trading platform.
Antoine Shagoury joins the LSE as chief information officer after holding the same role at the American Stock Exchange, which was purchased by rival US exchange group NYSE Euronext in 2008. He will be responsible for technology throughout the LSE’s markets, including group-wide IT organisation, and will report directly to LSE CEO Xavier Rolet.
Prior to the American Stock Exchange, Shagoury held the position of chief technology officer at agency broker Instinet.
Shagoury will work closely with Tony Weeresinghe, CEO of MillenniumIT, the Sri Lanka-based technology firm which the LSE bought in October last year for US$30 million.
The LSE has said it plans to migrate to a new platform, dubbed Millennium Exchange, before the end of September 2010, with customer testing due to start in June.
The latest appointment will enable David Lester, the LSE’s group director of information services, to lead the integration of Baikal, the exchange’s non-displayed trading service, with Turquoise, the pan-European multilateral trading facility that the LSE bought from a consortium of banks at the end of last year. Lester will also take responsibility for identifying future growth opportunities within the group’s information services division.
“Shagoury’s considerable industry experience will be an asset to the executive committee and the LSE Group,” commented Rolet, in a statement. “In addition, the increased bandwidth across the top team will allow the group to take advantage of new opportunities and deliver on its growth strategy.”