The Chicago Mercantile Exchange has hired Citadel executive Craig Mohan to spearhead a new co-location and data centre push aimed at the high frequency trading market.
In this newly created position, Mohan, 41, will be responsible for the strategic development, management and overall execution of the company's co-location and data centre hosting business, including sales, product development and client services.
Reporting to Julie Holzrichter, managing director, global operations, Mohan will oversee the construction off a new proprietary data centre in the Chicago suburbs that will be pitched to algorithmic trading firms.
The new centre will house all trade matching engines for all products traded on CME Globex and will be built to high environmental standards for maximum power cooling and energy efficiency gains, says Holzrichter.
"As we prepare to launch our co-location services in early 2012, he (Mohan) will play a key role in helping our customers realise more efficient operating costs than traditional co-location facilities, while maximising reliability and availability," she says.
At Citadel, Mohan served as director, global infrastructure where he had direct oversight over the company's data centre and co-location facilities. His background also includes technology and operations management positions with ShopperTrak RCT, Accenture and Blue Meteor.