In Gelber's new role, he will be responsible for driving Archipelago's options business and will initially be charged with managing the integration of the newly acquired PCX's options exchange.

"We fully intend to make Archipelago the market of choice for options trading and believe Matt combines an understanding of the PCX, knowledge of how options trade and what clients want that will lead us there," said Jerry Putnam, Chief Executive Officer of Archipelago Holdings. "While integration of the Pacific Exchange is priority one for our options business, focusing on initiatives that will grow the options business is of equal importance. Matt will add expertise in both areas."

Gelber most recently served as Chief Operating Officer of Fidelity Capital Markets where his responsibilities included planning, organizing and executing operational plans and company strategy. He held various senior positions at Fidelity including Senior Vice President of Order Flow Management and Vice President, Manager, Principal Trader. Preceding his work at Fidelity, Gelber was also employed with Merrill Lynch Specialists, Inc. where he was an Assistant Vice President responsible for trading 85 listed securities. Gelber has also worked at Josephthal & Co., Inc and the Boston Stock Exchange.

Gelber has been actively involved with the Pacific Exchange, serving as Governor, PCX Inc., Board of Governors and Director, PCX Holdings Inc. and also as a member of several PCX advisory and market performance committees.

In his various roles at Fidelity and with the PCX, Gelber accumulated a wealth of expertise in the options industry by managing order flow, working with both institutional and retail investors and monitoring execution quality.

"Archipelago is as progressive an organization as there is within the financial services arena. They have consistently driven positive, investor-friendly change in the equities market. With their announced acquisition of the Pacific Exchange, Archipelago is well positioned to make a similar impact on the options marketplace. I am very excited to be joining such a forward-thinking company at a critical time in the evolution of the company and the markets," said Gelber.

Gelber holds an MBA from the Boston University School of Management and a bachelor's degree in government/economics from Skidmore College. He will be based in Archipelago's Chicago, Ill. offices.