WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission said on Wednesday it had named JPMorgan Chase (N:JPM) executive Brett Redfearn as director of the agency's trading and markets division.
The job is one of the last major positions new SEC Chairman Jay Clayton still had to fill. The unit oversees securities exchanges and markets, broker-dealers, clearing agencies, derivatives and the Financial Industry Regulatory Authority.
Redfearn had been serving as global head of market structure for JPMorgan's corporate and investment bank. He started his career at the American Stock Exchange, where he ran business strategy and equity order flow. During his career, Redfearn has served on the boards of Bats Global Markets and the Chicago Stock Exchange, among others, the SEC said.
As head of trading and markets, Redfearn is expected to play a central role in potential tweaks to market structure rules such as exchange order types, tick sizes, and how exchanges are regulated, which were identified by the U.S. Treasury last month as areas that should be reviewed by the SEC.
Jamie Selway, head of execution services at agency brokerage Investment Technology Group (ITG) (N:ITG), had previously been the front-runner for the trading and markets role but he dropped out of the running in September.