NEW YORK, Feb. 27, 2019 /PRNewswire/ -- Members Exchange (MEMX) announced today the appointment of Jonathan Kellner as its Chief Executive Officer, effective immediately.
Jonathan was most recently the CEO of Instinet Incorporated, an institutional agency-only broker and independent equity trading arm of its parent, Nomura Group. During his tenure, Instinet strengthened its leadership position as a global agency broker through delivery of market-leading execution technology and efficient provision of global liquidity. He led the company through its successful acquisition of BlockCross ATS from State Street, and navigated periods of significant regulatory change, including Dodd-Frank and MIFID II.
"We are excited that Jonathan is joining MEMX as CEO," said Jamil Nazarali, Chairman of the Board of Directors at MEMX. "Jonathan is an exceptionally talented leader in the financial services industry with extensive equity markets experience. We are confident he will successfully bring to market an exchange built on transparency and on leading edge technology that will benefit all market participants."
"I am thrilled to be a part of the MEMX team," said Jonathan Kellner, incoming Chief Executive Officer of MEMX. "The launching of MEMX, with the backing of a diverse and large cross-section of leading market players, is a transformative development that will drive a more competitive equity trading environment. I am looking forward to assembling a world-class team and delivering a transparent and innovative equity exchange for investors."
As the CEO of Instinet Incorporated, Mr. Kellner managed a global organization of 800 team members, including registered broker dealers in six separate jurisdictions. Mr. Kellner also served in different capacities over his total fifteen years at Nomura, including President and Head of U.S. Sales Trading at Instinet LLC. Mr. Kellner started his career in financial services in technology and equity trading roles at global financial services firms. Mr. Kellner holds a Bachelor of Science degree in Mechanical Engineering from the University of Michigan.
Members Exchange's (MEMX) mission is to increase competition, improve operational transparency, further reduce fixed costs, and simplify the execution of equity trading in the U.S. MEMX plans to file an application with the Securities and Exchange Commission in early 2019 for approval to operate as a national securities exchange. The founding members of MEMX are many of the largest U.S. retail broker-dealers, global banks, financial services firms and global market makers: Bank of America Merrill Lynch, Charles Schwab, Citadel Securities, E*TRADE, Fidelity Investments, Morgan Stanley, TD Ameritrade, UBS, and Virtu Financial. For more information on MEMX, please visit www.memxtrading.com.
Patricia Figueroa / Max Dutcher
Gladstone Place Partners