With the move, John Lowrey will become head of MarketPrizm, Chi-X Global's pan-European trading venue connectivity network and managed infrastructure service.

"Tal possesses an incredibly deep understanding of global market structure and the technology necessary to power today's advanced marketplaces," said Fumiki Kondo, Chairman of Chi-X Global. "That skill set, combined with his experience running our Americas business, which includes the profitable Chi-X Canada, makes him the ideal leader of Chi-X Global as we concentrate on the development of our market center businesses."

He continued: "We are also excited that John will be able to focus his energies and talents on growing the MarketPrizm business, which John largely architected and for which we have high hopes."

Commenting on the appointment, Mr. Cohen said: "With Chi-X Canada and Chi-X Japan continuing to build momentum, the expected launches of Chi-East and Chi-X Australia* and the anticipated rollout of new initiatives such as Chi-FX, this is obviously an important time for our business. I am excited to expand my role with the firm as we focus on the execution of our business plan."

Mr. Cohen has served as CEO of Chi-X Canada since its 2008 launch and was named CEO of Chi-X Global's Americas business, which also includes the BVMF joint venture, Chi-FX Brazil, in 2009. For nearly ten years prior to moving to Chi-X Global, Mr. Cohen held a variety of senior roles with the firm's parent, Instinet, including Head of Instinet Canada Limited, Head of U.S. Business Development and Strategy and multiple global product management positions. Before joining Instinet, Mr. Cohen served as M&A Manager at American Express and before that Senior Business Advisor at Arthur Andersen. Mr. Cohen holds a B.A. from SUNY Albany and an M.B.A. from New York University's Stern School of Business and is a Certified Public Accountant.

* Subject to regulatory approvals.