JERSEY CITY, N.J., Oct. 26, 2009 (GLOBE NEWSWIRE) -- Direct Edge announced today the promotion of Glen Badach to Chief Financial Officer, effective immediately. Mr. Badach had previously held the title of Controller since joining the firm in October 2007.
As Chief Financial Officer, Mr. Badach will oversee all financial planning, reporting, and operations for the firm. He will continue to report directly to Chief Executive Officer William O'Brien.
"Over the past two years Glen has brought a remarkable depth of financial service experience and accounting acumen to bear at Direct Edge," said William O'Brien. "We are proud to now have him overseeing all financial aspects of the business and helping lead our drive for continued growth and success."
Prior to joining Direct Edge, Mr. Badach served in a similar position with Brut, LLC, where, as the firm's Chief Financial Officer, he played a pivotal role in the sale of the company to SunGard Data Systems. Mr. Badach also worked for several years in the Asset Management unit of Morgan Stanley, ultimately serving as Division Controller.
Mr. Badach earned a B.S. in Accounting from Fairleigh Dickinson University and holds a CPA license from the New Jersey State Board of Accounting.
About Direct Edge
Direct Edge offers the next generation of displayed markets. With U.S. cash equities volume routinely exceeding 1.5 billion shares per day, Direct Edge uses multiple ECN and exchange platforms and unique order types to match complementary forms of liquidity based on sensitivity to transaction cost, fill rate, and fill speed, while maintaining high execution quality and low latencies. Headquartered in Jersey City, N.J., Direct Edge is owned by a consortium that includes the International Securities Exchange, Knight Capital Group, Inc., Citadel Derivatives Group, The Goldman Sachs Group, and J.P. Morgan. More information about Direct Edge is available at http://www.directedge.com. Everybody Needs Some Edge.
The Direct Edge logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4803