At Schwab, Herron has overseen staff responsible for the trading and direction of the company's retail listed order flow. A twenty-six year veteran of the industry, Herron began his career as a Floor Reporter (runner) on the Pacific Stock Exchange and went on to serve as a member/specialist before moving on to the Boston Stock Exchange in 1982. Herron joined Fidelity Investments as a specialist in 1984 and departed in 1998 as Vice President, Specialist Trading, overseeing operations on the Boston, Pacific and Cincinnati Stock Exchanges.
Herron has been a Governor of the Boston Stock Exchange since 1997 and served as a Trustee of the Cincinnati Stock Exchange from 1996 to 2001. He has also has served as an American Stock Exchange official and participated in numerous other securities industry committees.
Lee Mitchell, who led the CHX CEO search committee, said, "The equity trading markets are changing rapidly as a result of increased competition, decimalization, and ongoing regulatory developments. Dave's breadth of experience in the operations of stock exchanges made him our first choice to lead the CHX in this challenging environment. Dave also brings a very important customer perspective that will help the Exchange enhance its products and services and chart the best strategic course going forward."
Denny Engleman, Vice-Chairman of the CHX, said "We are particularly grateful to Paul O'Kelly, CHX President and COO, and the staff who have kept our operations running smoothly and our strategic initiatives moving forward during this period of transition. With that, the members of the CHX are extremely pleased with the selection of Dave Herron as CEO. Dave's extensive background in order execution and routing makes him uniquely qualified for this position and we have the utmost confidence that he will lead the CHX to a prosperous and successful future where we will continue to be an asset to the investing public."
The Chicago Stock Exchange was founded May 15, 1882 and is the second most active stock exchange in terms of share and trade volume. The CHX has grown substantially in past years providing a strong force for competition to all U.S. markets. The CHX trades more than 3,600 NYSE, AMEX, Nasdaq and CHX-exclusive issues, more than any other U.S. stock exchange.
