Remarking on Mr. O'Kelly's departure, CHX CEO Dave Herron, said, "With the utmost gratitude, and on behalf of our staff, members and Board, we thank Paul for his insight, integrity and service during these past five years. Paul's contribution to the Exchange has been considerable and his presence will be missed. He is known for being a calming influence in turbulent times and he had garnered great respect among his colleagues within the financial services industry."
Herron also commented, "although the difficult economic environment facing all equity exchanges has required substantial reductions in our staffing in the last few years, the CHX continues to have a strong financial base, a committed membership and an experienced staff. We remain confident of the Exchange's ability to be an increasingly competitive alternative for the trading of NYSE, AMEX and OTC stocks."
There are no plans to replace Mr. O'Kelly in the role of President and COO. For the immediate future, Mr. O'Kelly's responsibilities will be divided among other individuals, including CEO Dave Herron.
The Chicago Stock Exchange was founded May 15, 1882 and is the strongest force for competition to all U.S. markets. The CHX trades more than 3,500 NYSE, AMEX, NASDAQ and CHX-exclusive issues.
