UPDATE 1-Nasdaq taps ex-Chi-X Global CEO to run North American equities

(Adds details on Nasdaq's Canadian business, quote from
executive interview)
By John McCrank
NEW YORK, March 28 (Reuters) - Transatlantic exchange
operator Nasdaq Inc NDAQ.O said on Monday it appointed Tal
Cohen, the former head of Chi-X Global, as head of its North
American equities business.
Nasdaq bought the Canadian operations of stock market
operator Chi-X Global last month for an undisclosed amount from
Nomura Holdings Inc 8604.T and other banks. J.C. Flowers & Co
said in January it agreed to buy Chi-X Global's Australian and
Japanese stock trading platforms.
Cohen, who was a managing director at Instinet LLC before
becoming chief executive of Chi-X Global, will report to Tom
Wittman, Nasdaq's global head of equities, starting April 12.
Nasdaq also said it would rename the Chi-X Canada stock
trading platforms, which compete with the TMX Group's X.TO
Toronto Stock Exchange, Nasdaq CX and Nasdaq CX2.
CX and CX2 operate as alternative trading systems, which are
more lightly regulated than exchanges, but Nasdaq plans to seek
regulatory approval to turn them into full-blown stock exchanges
once it gets further along with a technology refresh of the
platforms, Wittman said in an interview.
Exchange licenses would allow Nasdaq to start a listing
business in Canada and the company would likely start by listing
Canadian exchange-traded funds, Wittman said.
There is also a strong possibility Nasdaq will start an
options business in Canada next year, he added.
"A lot of my new customers up there would like to sit down
with me and talk about launching an options business in Canada,"
he said.
Walt Smith, who currently leads Nasdaq's North American
equities business, will transition to a new role as head of
Nasdaq's Global Access Services business, which includes
exchange connectivity and post-trade services.
Dan Kessous, former head of Chi-X Canada, will head up
Nasdaq's Canadian equities business.
Nasdaq runs the No. 3 U.S. stock exchange by volume. The New
York-based company also agreed this month to buy U.S. options
exchange operator International Securities Exchange from
Deutsche Boerse DB1Gn.DE for $1.1 billion, which would make it
the largest U.S. options exchange operator once the deal closes.