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Robert Greifeld
Chief Executive Officer
Nasdaq OMX Group
Last year: 8

The bungled Facebook IPO on May 18 was "not our finest hour," Robert Greifeld said of the worst operational crisis in his nine years as Nasdaq OMX Group's CEO. Even after enlisting IBM Corp. to conduct an extensive systems review, Greifeld, 55, came under more fire in June when other exchange operators lambasted his plan to compensate investors for the breakdown in handling order changes and cancellations. Although the cloud hanging over the original electronic stock exchange — and over IPOs in general — is not dissipating very quickly, there is brighter technological news for Nasdaq OMX: In May the company unveiled Express Connect, a high-speed, low-cost link between its U.S. data center and trading and colocation venues in Illinois, New Jersey, New York and Canada. The soon-to-launch BX Options market is poised to offer U.S. retail investors microsecond trading speeds and other advantages already available to professionals on the Nasdaq Options and PHLX platforms. While companywide net revenue fell $2 million year-over-year in the first quarter, to $411 million, the Nasdaq OMX technology group, which supplies systems to 70 marketplaces worldwide, gained $2 million, to $45 million. Declines in trading and clearing "were almost completely offset by growth in our other businesses," noted Greifeld, a onetime trading technology entrepreneur and former SunGard Data Systems executive.