March 29, 2016 – Transatlantic exchange operator Nasdaq Inc said on Monday it appointed Tal Cohen, the former head of Chi-X Global, to run its North American equities business.
Nasdaq bought the Canadian operations of stock market operator Chi-X Global last month for an undisclosed amount from Nomura Holdings Inc and other banks. J.C. Flowers & Co. said in January it agreed to buy Chi-X Global’s Australian and Japanese stock trading platforms.
Cohen, who was a managing director at Instinet LLC before becoming chief executive of Chi-X Global, will report to Tom Wittman, Nasdaq’s global head of equities, starting April 12.
Walt Smith, who currently leads Nasdaq’s North American equities business, will transition to a new role as head of Nasdaq’s Global Access Services business, which includes exchange connectivity and post-trade services.
Nasdaq said it would rename the Chi-X Canada stock trading platforms, which compete with the TMX Group’s Toronto Stock Exchange, Nasdaq CX and Nasdaq CX2.
Dan Kessous, former head of Chi-X Canada, will head up Nasdaq’s Canadian equities business.
Nasdaq run’s the No. 3 U.S. stock exchange by volume. The New York-based company also agreed this month to buy U.S. options exchange operator International Securities Exchange from Deutsche Boerse for US$1.1 billion, which would make it the largest U.S. options exchange operator once the deal closes.