Bats Global Markets on Tuesday named Chris Concannon its new president. Concannon has spent the last 15 years working in the stock trading industry.
Concannon will join Lenexa, Kan.-based Bats, the second largest U.S. stock exchange operator, effective Dec. 15. He will be based in New York.
He takes over for Bats CEO Joe Ratterman, who has served as president since Bill O’Brien left the company in July. O’Brien became president when he joined Bats as a result of its merger with Direct Edge Holdings, which closed earlier this year.
The Concannon announcement follows Monday’s news that the Bats exchange had its most successful month ever operationally in October. Bats said its share of U.S. equity trading was 21.4 percent last month, behind the New York Stock Exchange’s 23.7 market share but ahead of the Nasdaq’s 20.82 percent share.