Baikal executives named

Baikal executives named

London Stock Exchange Group today announces the appointment of a Commercial Director and Chief Operating Officer for Baikal, its forthcoming dark liquidity trading venue.

Natan Tiefenbrun joins as Commercial Director of Baikal. Natan previously worked at XConnect and Instinet where he was latterly President of International Division and directed development of global algorithmic trading capabilities and formulated the liquidity platform strategy that evolved into Chi-X.

Chris Rennoldson is appointed Chief Operating Officer of Baikal. Chris has worked at the London Stock Exchange for seven years in corporate and business strategy, most recently a key part of the team managing the merger transaction with Borsa Italiana.

Natan and Chris will both report to John Wilson, Chief Executive of Baikal.

In addition to these appointments, the inaugural meeting of the Baikal Buy Side Advisory Group, with the participation of fifteen leading buy side institutions, will take place this week.

Subject to receiving the necessary regulatory approvals, Baikal will offer customers a new proposition in European equities trading by combining algorithmic and smart order routing technology with a multilateral non-display liquidity pool.

Baikal will be a pan-European MTF (multi-lateral trading facility) offering a neutral liquidity venue open to buy and sell side, which will:

  • Create a new non-display European equities liquidity pool offering the most efficient execution for customers seeking lower market impact costs for institutional size orders; and
  • Order route to the widest range of displayed and non-displayed European equities liquidity.

The Baikal team will be based in London Stock Exchange Group offices at Paternoster Square.

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