Michael Sanderson Named Chief Executive Officer Of Nasdaq Europe

The Nasdaq Stock Market, Inc. (Nasdaq ) today announced that it has named Michael Sanderson as chief executive officer of Nasdaq Europe. Sanderson, 58, who starts today, is responsible for leading the operation and development of Nasdaq Europe, as it continues to focus on building its liquidity and market share and becoming a major player in the European marketplace. Reporting to John Hilley, chairman of Nasdaq International, Sanderson will be based in London.

Sanderson was previously chairman and chief executive officer of Market XT, the first firm to offer after-hours equity trading to retail investors. He arranged for the sale of Market XT to Tradescape, Inc. in August 2000 and served as its chairman, focusing on the integration of the business and building its institutional sales force.

Prior to that, Sanderson was chairman and CEO of Reuters America Holdings. During his tenure at Reuters, he built the electronic communications network Instinet into a global brokerage entity with over 1,200 employees in the U.S. and internationally. He also spearheaded the rollout of Reuters Plus, the firm's first U.S. equity data product.

Sanderson began his career at Merrill Lynch, as a registered representative in the firm's Stamford, Connecticut office, rising to chairman and chief executive officer of Merrill Lynch Canada, which became one of the top three brokerage firms in the country under his leadership.

Commenting on his appointment, Hilley said, "The wealth of experience and leadership that Michael brings in electronic-, after-hours and global-trading will serve us well as we forge ahead in our vision of a globally linked marketplace. We believe that he will be instrumental in building on the foundation we have set in Europe and in continuing to strengthen our presence in this key market for Nasdaq."

Sanderson commented, "I am excited to join Nasdaq at this historic time in the company's history. I look forward to the opportunity to build our European operation and play a role in Nasdaq's development of a market that trades across international borders."

Sanderson is a graduate of Brown University, where he earned his B.A. in International Relations. He received an M.A. in Philosophy, Politics and Economics from Oxford University.