03.30.2016
By John D'Antona

Nasdaq Hires Tal Cohen for Equities

Exchange operator Nasdaq has hired Tal Cohen as head of its North American equities business.

Cohen, a 17-year equities market veteran, replaces Walt Smith, who will move to a business development role spearheading Nasdaq’s efforts to bring customers onto its proprietary trading systems, according to a company spokesman. Cohen will assume his new duties on April 12.

Cohen spent the past seven years at Chi-X, first as chief executive officer of Chi-X Americas, which operates Chi-X Europe and Chi-X Canada. In 2010 he became CEO of Chi-X Global, which operates the Chi-X Japan, Chi-X Canada and Chi-X Australia platforms.

Previously, Cohen worked at Instinet, Nomura’s brokerage unit. During his nine years at the agency brokerage, he served as head of business development and global product management, was head of the Canadian brokerage division and was a co-head of its electronic sales team. On the trading desk he covered quants and direct market access traders.

Cohen’s arrival coincides with Nasdaq’s purchase of Chi-X Global trading business in Canada last December. With the addition of Cohen and his familiarity with Chi-X Canada’s operations and clients, the U.S. exchange operator looks to connect Canadian users to its own trading platforms and technology. In a release back in December, Nasdaq said it was rebranding the Canadian trading units of Chi-X to Nasdaq CX and Nasdaq CX2.

Chi-X Canada, the alternative trading system for the Toronto Stock Exchange and TSX Venture Securities, gives Nasdaq’s clients direct access to the Canadian trading markets.

Chi-X Global hired Anthony Mackay as CEO in February.

 

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