Direct Edge Hires Saro Jahani as Chief Information Officer

/ Source: GlobeNewswire

JERSEY CITY, N.J., April 25, 2011 (GLOBE NEWSWIRE) -- Direct Edge announced today that it has hired Saro Jahani as Chief Information Officer. In his role, Mr. Jahani will oversee and manage the information technology aspects of the firm. He will report directly to Chief Executive Officer William O'Brien.

"Saro is an important addition to our management team, and understands the balance between technological innovation and systemic integrity that is crucial to operating a successful registered stock exchange," said Mr. O'Brien. "I am certain Saro will play a key role in the continued growth and maturity of our company."

Prior to joining Direct Edge, Mr. Jahani served as Chief Information Officer at the National Stock Exchange (NSX), where he was responsible for overseeing and prioritizing the firm's technology to remain in line with growth initiatives and strengthening external client relationships. Prior to joining NSX, Mr. Jahani was Global Head of Infrastructure, Operations and Facilities at Townsend Analytics. He also served as Executive Vice President of IT Operations at SunGard. Earlier in his career Mr. Jahani held various IT positions at CAP Gemini, Swedish Telecom and Crosfield Electronics.

"I am eager to join an entrepreneurial firm with a proven commitment to innovation and embracing technology," said Mr. Jahani. "Direct Edge has made a significant impact on the exchange and trading arena and I am eager to become part of the team that will help them continue to grow and succeed."

Direct Edge also today announced the promotions of the following three employees within its technology group, all of whom will report to Mr. Jahani:

Rich Hochron has been promoted to Chief Technology Officer where he will oversee the firm's technology and help ensure the efficiency of its financial market capabilities. Mr. Hochron previously served as Head of Software Engineering at the company and played a key role in managing the construction of the firm's current Exchange technology platform. He joined Direct Edge 11 years ago when it was known as Attain ECN.

Alex Lerner has been promoted to Head of Software Engineering. Mr. Lerner's previous role was as Director of Systems Engineering having joined Direct Edge in 2008 from the International Securities Exchange. He has over 25 years of software development experience.

Michael Henderson has been promoted to Chief Architect. Mr. Henderson's prior role was Senior Software Engineer where he was responsible for matching engine development and messaging infrastructure design. Mr. Henderson also joined Direct Edge in 2008 from the International Securities Exchange.

Mr. O'Brien continued, "Rich, Alex and Michael have each played important roles at Direct Edge, particularly during our successful transition from an ECN to an exchange in July 2010 and in growing Direct Edge into one of the top equities exchanges. I am pleased to reward their continued hard work and look forward to their technological contributions towards keeping Direct Edge at the forefront of innovation in the exchange space."

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 . Everybody Needs Some Edge.

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

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