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Direct Edge Hires Anthony Barchetto as Head of Strategy

/ Source: GlobeNewswire

JERSEY CITY, N.J., April 11, 2011 (GLOBE NEWSWIRE) -- Direct Edge announced today that it has hired Anthony Barchetto as Head of Strategy. Mr. Barchetto will succeed Bryan Harkins, who was promoted to Chief Operating Officer in early January.

In his role, Mr. Barchetto will oversee all strategic growth initiatives and business development efforts for the firm. He will report directly to Chief Executive Officer William O'Brien.

"Tony brings with him a wealth of experience within the exchange and trading areas and a proven track record of success in seeing new business initiatives through to fruition. He has cultivated a comprehensive network of relationships in the industry," said Mr. O'Brien. "We are confident that Tony will help Direct Edge continue to innovate and drive its strategic vision going forward. We are extremely excited to have him aboard."

"Direct Edge has a stellar reputation as a firm focused on innovation with an eye toward meeting the needs of a greater set of market participants," said Mr. Barchetto. "Direct Edge's customer focus and rapid success in a fiercely competitive marketplace have always impressed me. I am eager to bring what I have learned throughout my career to bear at this firm and am excited to help contribute to its continued strategic growth and success for years to come."

Prior to joining Direct Edge, Mr. Barchetto served as Head of Corporate Strategy at electronic block trading platform Liquidnet Holdings, where he was responsible for managing strategic initiatives, business development, and external partnerships. He previously served as Chief Operating Officer, U.S. Equities at the firm. Prior to that, Mr. Barchetto worked in trading and product management roles for Citigroup's Lava Trading, hedge fund Puglisi Capital Partners, and Knight Capital Group. He is a CFA charterholder and is a graduate of Georgetown University.

About Direct Edge

Direct Edge, America's newest stock exchange, offers the next generation of displayed markets. With U.S. cash equities volume routinely exceeding 1 billion shares per day, Direct Edge uses dual exchange platforms and unique order types to match complementary forms of liquidity based on sensitivity to transaction cost, fill rate, and fill speed, while maintaining high execution quality and low latencies. Headquartered in Jersey City, N.J., Direct Edge is owned by a consortium that includes the International Securities Exchange, Knight Capital Group, Inc., Citadel Derivatives Group, The Goldman Sachs Group, and J.P. Morgan. More information about Direct Edge is available at http://www.directedge.com. Everybody Needs Some Edge.

The Direct Edge logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4803

(C) 2011 Direct Edge ECN LLC. All rights reserved.

CONTACT: MEDIA CONTACT: Rafi Reguer Head of Corporate Communications (201) 942-8234 Rreguer@directedge.com