BATS Global Markets (BATS), a leading operator of securities markets in the U.S. and Europe, today named senior industry leader and market expert Chris Concannon as president, effective Dec. 15.
Mr. Concannon, who spent six years at Nasdaq as executive vice president, transaction services, will report directly to BATS CEO Joe Ratterman, who has led the firm since July 2007. He will be based in New York as part of the firm’s Executive Committee.
“BATS is very excited to welcome a well-established strategic leader like Chris, someone who has spent the past 15 years as an advocate in reshaping - and improving - U.S. market structure,” Mr. Ratterman said. “At a pivotal time for the global trading industry, his unparalleled track record as an exchange executive, trading customer and regulator brings a unique perspective to our firm. Chris fits our culture perfectly and I look forward to working with him as we continue to execute on our mission of making markets better.”
Mr. Concannon said “I am very excited about the opportunity to join a global market leader like BATS and an organization of dedicated and talented professionals. The opportunity ahead for BATS is clear and vast and will be built off of the company’s successes in the US and European markets. ”
Mr. Concannon was most recently president and chief operating officer of Virtu Financial, a global electronic market maker, from 2009 to 2014. At Virtu, he was instrumental in growing the company into one of the world’s most influential market makers, providing liquidity on over 200 different exchanges and market centers in more than 30 countries in equities, fixed income, currencies and commodities.
During his influential tenure at Nasdaq from 2003 to 2009, Mr. Concannon’s leadership played a key role in transforming the company. He was responsible for Nasdaq’s U.S. stock and options markets and also led numerous acquisitions and integrations, including Brut, Inet and the Philadelphia and Boston Stock Exchanges. He also served as a chief liaison with customers and regulators, led the launch of the highly successful Nasdaq Options Market and was on the Nasdaq Stock Market board.
Mr. Concannon served on the BATS Exchange board from March 2012 to November 2014 and has been a director on the Depository Trust & Clearing Corp.’s board since 2010.
Early in his career, Mr. Concannon was a staff attorney at the Securities and Exchange Commission in the Division of Market Regulation from 1995 to 1997 before joining the law firm of Morgan, Lewis and Bockius LLP for two years. He then moved to Island ECN, one of the innovative firms which dramatically changed the U.S. market landscape, as special counsel and vice president of business development. From Island, he became president of Instinet Clearing Services before moving to Nasdaq in 2003.
He holds a bachelor’s degree in history from Catholic University, an MBA from St. John’s University and a JD from Catholic University’s Columbus School of Law.