High-speed trading exec in mix for SEC job

ADVERTISEMENT
Concannon works as an executive vice president at the high-frequency trading firm Virtu Financial. He joined the firm in 2009 after leaving the Nasdaq OMX Group, where he oversaw all its U.S. exchanges.

Last month, the SEC voted to draft new rules governing the high-frequency trades — the kind that have been blamed for the 2010 "flash crash" on Wall Street. 

Regulation SCI, which stands for systems, compliance and integrity, would cement currently voluntary policies aimed to ensure companies have security and record-keeping policies in place to avert a sudden, dramatic drop in the market.