The Nasdaq OMX Group (Nasdaq:NDAQ) today announced that Chris Concannon, Executive Vice President, Transaction Services U.S., has advised the company that he intends to step down from his role effective April 30.
Mr. Concannon will be joining Virtu Financial LLC, a newly formed proprietary trading firm, as a Partner.
"Chris has played a major part in our growth and success over the last six years and he has been a trusted and valued partner," said Bob Greifeld, Chief Executive Officer of NASDAQ OMX. "His entrepreneurial, competitive style has served us well and we wish him much success as he pursues a new and different path."
Mr. Concannon joined NASDAQ OMX from Instinet Clearing Services in 2003. During his tenure at NASDAQ OMX, Mr. Concannon has overseen and integrated numerous acquisitions, including BRUT, Instinet, the Philadelphia Stock Exchange and the Boston Stock Exchange. Also during his tenure Mr. Concannon led the initiative to grow market share in the trading of NYSE-listed securities, increasing The NASDAQ Stock Market's share more than fifteen-fold since 2005. Additionally, he has overseen the launch of two new markets, NASDAQ OMX Europe and The NASDAQ Options Market.
"My time at NASDAQ OMX has been both personally and professionally fulfilling. I have watched NASDAQ OMX grow from a single cash equity exchange into the world's leading global marketplace. I have also had the pleasure of working with a management team that has a proven ability to lead and execute a global strategy," said Mr. Concannon.