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Trading Technology 30: Tal Cohen

Tal Cohen
No. 21
Chief Executive Officer
Chi-X Global Holdings 
Tal Cohen A veteran of agency brokerage Instinet, Tal Cohen took the helm of the company’s New York–based alternative exchange affiliate, Chi-X Global Holdings, in September 2010. With support from Instinet co-CEOs Anthony Abenante and Fumiki Kondo, who created Chi-X Global in 2008, Cohen has been expanding a network of high-speed trading venues that include Chi-X Japan, which launched in July 2010; Chi-East (co-owned with Singapore Exchange), which went live in November 2010; and Chi-X Australia, which debuted in October 2011. “We see ourselves as a global start-up,” says the 39-year-old CEO. His involvement with Chi-X dates back to his work in 2008 on the business plan for Chi-X Canada, the company’s first profitable unit, now commanding approximately 10 percent of trading in issues listed on the Toronto Stock Exchange. In October, Chi-X Global announced the sale of a minority of the company to Bank of America Merrill Lynch, Getco, Goldman Sachs Group, Morgan Stanley and Quantlab Group — leaving Instinet in control. In December, UBS joined the consortium of equity partners. “We want to be able to leverage their expertise and tap into their intellectual capital as we seek to open up new markets around the globe,” says Cohen.

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