January 2007
NSX Announces Three Officer Appointments
Tuesday, January 30, 2007
CHICAGO, January 29, 2007 - National Stock Exchange®, Inc. (NSXSM) today announced the appointment of three officers: Jacob T. Mulaikal as Chief Operating Officer, in addition to his current position as NSX's Chief Financial Officer; Michael B. Traynor as Chief Strategy Officer; and Lori A. Ragus as Assistant Vice President and Senior Regulatory Counsel.
As Chief Operating Officer of NSX, Mr. Mulaikal will be responsible for overseeing NSX's day-to-day business activities. He assumes these new responsibilities in addition to his duties as NSX's Chief Financial Officer, responsible for the Finance, Accounting, Human Resource and Administrative functions of the Exchange. He joined NSX in March 2000 as Director of Finance and Administration and was promoted to CFO in January 2001.
Prior to joining NSX, Mr. Mulaikal served as Group Finance Officer for Heller Financial Inc. and was responsible for the financial planning and oversight of 14 international subsidiaries of the company. Before that, he worked at Household International and the Equity Group in various tax research, planning and compliance roles. He holds an MBA from DePaul University in Chicago and a Bachelor of Science Degree from Loyola University in India. He is a Certified Public Accountant in the United States and a Chartered Accountant in India.
Mr. Traynor, as Chief Strategy Officer, will be responsible for strategic planning and product development. Most recently, he was a founding partner of the MindCapital Group, LP, which provided strategic consulting services to NSX, as well as several other financial services clients.
Prior to that, Mr. Traynor worked for Susquehanna International Group, LLP, where he was responsible for new product development and ETF marketing. He began his career at the Vanguard Group, serving in a variety of capacities including new business initiatives and brokerage strategy. He holds an MBA from Villanova University and a Bachelor of Science Degree from Boston College and is a Chartered Financial Analyst.
Ms. Ragus joined NSX in June 2006 with extensive regulatory experience in the securities industry. She worked for the Securities and Exchange Commission for 12 years, most recently as Attorney-Advisor in the Investment Management program at the Chicago Regional Office. Her professional history also includes a position as Director and Associate General Counsel for The Options Clearing Corporation, where she worked for six years. She holds a J.D. from IIT Chicago- Kent College of Law and a Bachelor of Science Degree from the University of Illinois.
Joseph Rizzello, NSX CEO and Chairman of NSX Holdings, Inc., said, "These individuals offer the caliber of talent NSX needs to grow our business. Jake Mulaikal has not only done an outstanding job managing the Exchange's finances, he has played an integral role in the development of NSX's strategy and the implementation our new business plan. Mike Traynor's strong background in business strategy in the financial services sector and his knowledge of market structure issues will serve NSX well at this critical point in our history. And with her depth of regulatory experience, Lori Ragus has proven to be a valuable member of the Exchange's Regulatory Services Division."
NSX implemented a new business strategy in 2006, which culminated in the last quarter of the year with the launch of a new state-of-the-art technology platform - NSX BLADESM and the NASD/NSX Trade Reporting Facility. The new platform was built from the ground up to meet the speed, price and service needs in a post-Regulation NMS environment. It was designed to accommodate the broadest range of users, including OTC Market Makers, ECNs, algorithmic traders and agency brokers.
NSX is the cost-effective provider of exchange services, committed to aligning its interests with those of its customers. Acknowledged for its proven high-performance, low-latency technology, NSX is also a recognized resource for Exchange-Traded Fund (ETF) data. For more information on NSX, visit www.nsx.com.
NSX Names Andrew B. Bernard and Dennis C. Cuneo to Board
Wednesday, January 17, 2007
CHICAGO, January 17, 2007 - National Stock Exchange®, Inc. (NSXSM) today announced the appointment of Andrew B. Bernard, Jack Byrne Professor of International Economics at the Tuck School of Business at Dartmouth College, and Dennis C. Cuneo, former Senior Vice President of Toyota Motor North America, as Independent Directors on NSX's Board of Directors.
Professor Bernard has been on the faculty at Tuck School of Business since 1999. He is Senior Associate Director of the Center for International Business at Tuck. In addition, he is a Research Associate for the National Bureau of Economic Research, as well as for the Institute for Fiscal Studies in London, the Centre for Economic Performance at the London School of Economics, and the Industrial Performance Center at MIT. His research has been published in top academic journals and featured extensively in major broadcast and print media. Before joining the faculty at Tuck, he taught at the Yale School of Management and MIT. He holds an AB from Harvard University and a PhD in Economics from Stanford University.
Mr. Cuneo was the second highest-ranking executive of Toyota's Holding Company for its North American operations. He was one of Toyota's first American executives and played a key role in the launch of its manufacturing operations in North America. As Senior Vice President, he was in charge of Administration, Corporate Communications, Industry and Government Relations, Legal, Planning, Research and the Latin American Group. He also served as Chief Environmental Officer and Corporate Secretary. He is currently a Partner with the Washington D.C. law firm of Arent Fox, where he worked as an Associate prior to his 22-year career with Toyota. Before that, he was an attorney with the Antitrust Division of the U.S. Department of Justice. He holds an MBA from Kent State University and a JD from Loyola University, New Orleans.
Joseph Rizzello, NSX CEO and Chairman of the Board of NSX Holdings, Inc., said, "We are at a significant juncture in this Exchange's history, amid a backdrop of a dramatically changing industry. The addition of these distinguished Directors to NSX's Board is a tremendous asset as we enter this new era." Donald L. Calvin, NSX Chairman of the Board, said, "NSX welcomes these two accomplished individuals to our Board of Directors. We value their depth of experience and their insights as we continue to execute our business strategy and grow our business."
NSX's new business strategy culminated in the last quarter of 2006 with the launch of a new state-of-the-art technology platform - NSX BLADESM and the NASD/NSX Trade Reporting Facility. The new platform was built from the ground up to meet the speed, price and service needs in a post-Regulation NMS environment. It was designed to accommodate the broadest range of users, including OTC Market Makers, ECNs, algorithmic traders and agency brokers.
NSX was the first exchange to provide the securities industry with an alternative to the existing TRF. The NASD/NSX TRF will facilitate OTC trade reporting for internally executed transactions in all NYSE, Nasdaq and Amex-listed stocks. The facility is operated by NSX and regulated by the NASD.
NSX BLADESM offers order delivery, strict price-time priority, unprecedented speed, and highly competitive exchange pricing due to NSX's unique operating leverage. Additional features include scalable capacity, a broad range of connectivity options, and anonymity during all stages of order execution.
NASD is a registered trademark of National Association of Securities Dealers, Inc.; NASD/NSX is used under license from NASD.
NSX is the cost-effective provider of exchange services, committed to aligning its interests with those of its customers. Acknowledged for its proven high-performance, low-latency technology, NSX is also a recognized resource for Exchange-Traded Fund (ETF) data. For more information on NSX, visit www.nsx.com.