By John McCrank
NEW YORK Feb 5 BATS Global Markets, which
closed its merger with Direct Edge at the end of last week to
form the No. 2 U.S. stock market, on Wednesday named its former
chief operating officer as chief information officer and Direct
Edge's former COO as head of its U.S. markets.
Chris Isaacson, as the new CIO, will lead the effort to move
Direct Edge onto BATS' technology platform, while Bryan Harkins
will be in charge of setting market strategy, pricing, product
development and sales in the U.S. markets.
Both will also be executive vice presidents.
BATS will not have a chief operating officer going forward.
Bill O'Brien, the new president who was chief executive of
Direct Edge, will effectively fill that role, Joe Ratterman,
BATS' chief executive officer, said in an interview.
Isaacson remains responsible for all technical and market
The combined company has 160 employees from BATS and 135
from Direct Edge. Ratterman said there will be staff reductions,
but the extent was not yet clear.
BATS, which leapt ahead of Nasdaq OMX Group in U.S.
equities market share with the merger and sits just behind
IntercontinentalExchange Group's NYSE unit, said Mark
Hemsley will remain chief executive of BATS Chi-X Europe.
Jeromee Johnson will remain in charge of developing the
company's options market. BATS is considering opening a second
options market at some point in 2015, Reuters reported on
Brian Schell will remain as chief financial officer, Tami
Schademann will stay on as chief regulatory officer, and Eric
Swanson will continue to be the general counsel.
Ratterman said he would personally be spending much of his
time focusing on BATS' equity and debt investors, as well as
federal regulators in Washington.