Multilateral trading facility Chi-X Europe could appoint Alasdair Haynes, the former boss of Investment Technology Group's international business, as CEO by the end of the week, according to Bloomberg.
Citing three people "familiar with the situation", Bloomberg says shareholders had until the end of last week to raise objections to Haynes.
A formal announcement could now come by the end of the week, with Haynes replacing Peter Randall, who quit in February for personal reasons. Randall had been the public face of the business since its inception in 2005 and formal launch in 2007.
A replacement was expected "within weeks" of Randall's departure but did not materialise and Mark Howarth, former COO for Asia-Pacific at Chi-X Global, has been acting as interim CEO.
Only today, Hirander Misra, Chi-X Europe COO told the Financial Times he would like to be considered for the top job.
Chi-X was the first MTF to take on the continent's traditional exchanges in the wake of MiFID and accounts for around 25% of the FTSE 100 and regularly ranks as the third-largest trading platform in continental Europe. It is owned by Instinet - which also operates Chi-X Global - and other market participants, including BNP Paribas, Citi, Goldman Sachs and UBS.
Chi-X Europe Said Likely to Name Alasdair Haynes as New CEO - Bloomberg