In a nod to rising importance of market structure issues, the U.S. Financial Industry Regulatory Authority (FINRA) has named an expert in electronic trading to its board.
FINRA said Wednesday that Joseph Mecane, managing director of electronic equities and credit products at Barclays, has been named as the floor member governor on its board of governors. The self-regulatory organization notes that Mecane is a “recognized industry expert in market structure issues and the regulation of markets.”
“Joe’s valuable expertise and depth of experience in market structure issues will help FINRA’s board move forward as we advance our mission of protecting investors and ensuring the integrity of our markets,” said Richard Ketchum, FINRA’s chairman and CEO.
Mecane was recently hired by Barclays to help develop its electronic product offering, with a particular focus on equities and credit markets. Before joining the firm, Mecane served as executive vice president and head of U.S. equities at the NYSE. Prior to that, he was managing director at UBS, responsible for overseeing the firm’s wholesale and retail trade execution business. He was also previously managing director and chief operating officer at the Schwab Capital Markets division of Charles Schwab & Co., where he oversaw Schwab’s broker-dealer business.
FINRA governors are appointed or elected to three-year terms and may not serve more than two consecutive terms.