The NASDAQ OMX Group has announced that Chris Concannon intends to step down from his role as executive vice president of transaction services, U.S., effective April 30. Concannon will be joining Virtu Financial LLC, a newly formed proprietary trading firm, as a partner.
Concannon joined NASDAQ OMX from Instinet Clearing Services in 2003. During his tenure at NASDAQ OMX, Concannon has overseen and integrated numerous acquisitions, including BRUT, Instinet, the Philadelphia Stock Exchange, and the Boston Stock Exchange. Also during his tenure, 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.
