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Foreign Exchange

Algo Technologies CEO resigns

Hirander Misra, chief executive officer of software vendor Algo Technologies, has left his post to pursue freelance high-frequency trading consultancy work. He will remain on the firm’s board as a director.

Misra tells EuromoneyFXNews he will be working for two clients initially – “a broker and an exchange/MTF” (multilateral trading facility) – advising them on electronic trading issues around the EU Mifid II regulation, market structure changes and product development. He says he will continue to do this “over the next few months, ahead of any more formal appointment that may transpire”. “This will be on an interim basis, though,” he adds. “I’d like to pursue more tangible product-consultancy opportunities, across asset classes, once I've weighed up my options. There’s a lot of change in the industry right now, and everyone's looking at their high-frequency trading capabilities.”

Misra says his departure was amicable, and that he will continue to support Algo Technologies’ work as a shareholder and board director. The firm specialises in building high-speed trading platforms for exchanges and multilateral trading facilities.

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