The Board of Directors of the Modern Markets Initiative (MMI), the education and advocacy organization devoted to the role of technological innovation in creating the world's best markets, today announced the appointment of Kirsten Wegner as Chief Executive Officer.
Wegner, who currently serves as Senior Vice President of Business Development of MMI, succeeds Bill Harts, who informed the Board of his intention to step away from day-to-day responsibilities leading the organization to pursue other professional opportunities.
In her new position as CEO, Wegner will build on the strong foundation that she has established in Washington, D.C. as MMI continues to focus on policy and educational outreach to regulators, lawmakers, investors and a range of market participants.
"Kirsten has a proven track record of execution. Her experience, industry relationships and deep knowledge of the issues affecting market structure and the broader technology community will be instrumental in positioning MMI for the next phase of its evolution," Harts said.
"I look forward to expanding MMI's footprint with the innovation community, so we can build upon our role as an informational resource for policymakers and ensure that the U.S. markets continue to foster new and innovative technology, new companies, new jobs, and remain the envy of the world," Wegner said.
Wegner joined MMI in May 2016, serving as a resource for market participants, regulators and lawmakers looking for a better understanding of modern markets in creating public policy. Previously, she was a director of government relations for the International Securities Exchange where she created bipartisan outreach and advocacy strategy on financial services and tax matters impacting exchanges and retail investors.
Harts, who has led MMI for the past three years, will become a Senior Advisor to the organization.
"Bill is a pioneer in technology and trading and we're hugely grateful for his leadership during a pivotal period in U.S. market structure," the Board said.
"It's been a privilege to lead MMI, highlighting the benefits that high frequency trading has brought to the public through lower trading costs and increased retirement savings," Harts said. "I'm pleased that our efforts, collaborating closely with lawmakers and other market participants, have resulted in a more informed and balanced market structure dialogue."
About the Modern Markets Initiative:
MMI is a trade association of financial technology companies, including market makers on the nation's stock exchanges, that welcomes a regular dialogue with regulators, media, and influencers on policies that promote innovation in capital markets, competition and growth of new ideas, safe and transparent markets for the public. MMI's founding firms -- GTS, Hudson River Trading, Quantlab, and Tower Research Capital — are technology firms that power IPOs on exchanges, deliver savings in transaction costs for pension funds and the public, and support policies that promote safer, more transparent, more liquid, and innovative capital markets.