Nasdaq’s global head of fixed income trading departs

John Shay joined Nasdaq after departing Virtu Financial in October 2016.

The global head of fixed income and commodities at Nasdaq has departed having been with the exchange operator less than a year, according to an internal memo.

A spokesperson confirmed John Shay has left the exchange group after joining the team in October last year.

He was responsible for overseeing the global commodities and fixed income trading, including US Treasuries, clearing and broker services.

Shay joined Nasdaq from Virtu Financial where he was a senior vice president of global markets responsible for managing outside venue, vendor and trading relationships in fixed income, currencies and commodities.

Head of global trading and market services, Tom Wittman, explained Shay was instrumental in driving product expansion within the fixed income business.

Nasdaq has also aligned its global trading and market services under a unified leadership.

Equities, equity derivatives, US Treasuries, global commodities, and fixed income, clearing, and broker services teams in the Nordic and Baltic markets, will report to Wittman.

The move is anticipated to drive greater awareness of Nasdaq’s services and combine its technology expertise across the teams.