Hirander Misra is resigning his position as CEO of a Algo Technologies Ltd., according to an email sent today.
Misra, who was based in the New York office, said he is leaving the firm to pursue other opportunities. In the short term, Misra will focus on consulting, noting that he is heavily involved in market structure changes in Europe.
“In the near term I have been approached to provide some consulting advisory time to a couple of firms in the electronic trading space around MiFID II, market structure changes and product development and so will do that over the next few months ahead of any more formal appointment that may transpire,” stated Misra in the email sent this morning.
In a follow up email, Misra indicated his departure is amicable, noting that he will remain a non-executive board director and shareholder in the firm and continue to support its mission.
Misra, former COO of Chi-X Europe, was named CEO of Algo Technologies in March of 2010. He is also a co-founder of the company, The company, based in London, delivers high-spped trading technology solutions focused on algorithmic trading, execution, and market data services.
In April of this year, The Algo Group, which owns Algo Span, a provider of dark fiber networks to liquidity centers, said it went live as a provider of connectivity and colocation services to the London Stock Exchange Group’s new low-latency trading platform, Millennium Exchange.