LONDON STOCK EXCHANGE NAMES RYLAND CTO OF BAIKAL DARK VENUE

Posted February 3, 2009

LONDON – Mark Ryland has been named Chief Technology Officer of Baikal, the planned pan-European dark liquidity trading venue of the London Stock Exchange (LSE) Group.

Ryland previously was Chief Operating Officer at SWX Europe, and had held senior equities trading technology positions at Merrill Lynch and HSBC. The LSE has also named Chris Rennoldson as Chief Operating Officer and Natan Tiefenbrun as Commercial Director of Baikal. Ryland completes the senior management team for Baikal, which is planning to launch later this year.

“Progress towards launch continues at an encouraging pace: The build phase has already begun and now that the management team is complete, we look forward to announcing further technology developments in the next few weeks,” says John Wilson, CEO of Baikal.

Pending regulatory approval, Baikal, a pan-European multi-lateral trading facility, will combine algorithmic and smart order routing technology with a multi-lateral non-display liquidity pool.