December 17, 2013

Aquis Exchange Ltd., an alternative European stock venue that started trading in November, hired two officials that worked at rivals for its sales department.

Graham Dick, who was once the head of business development at market operator Chi-X Europe Ltd., joined London-based Aquis to run its sales and client relationship management team, according to a statement. Nasdaq OMX Group Inc.’s Leila Mayet will start early next year as an executive in that group.

Aquis was founded last year by Alasdair Haynes, the former chief executive officer of Chi-X Europe, as an alternative to his former employer and traditional exchanges. The Warsaw Stock Exchange agreed to buy a 30 percent stake in the company for 5 million pounds ($8.2 million) in August.

The European Union’s Markets in Financial Instruments Directive in 2007 allowed alternative trading systems to compete with exchanges such as Deutsche Boerse AG and London Stock Exchange Group Plc, sparking a fight for market share. Many of the new platforms have since merged, shut down or been bought by rivals.

Dick most recently worked on the Coba Project, which unsuccessfully sought to administer a consolidated data feed to distribute prices for European stocks. He once held positions at UBS AG and Credit Lyonnais SA, according to Aquis. Mayet previously worked for BM&FBovespa SA, the operator of Brazil’s equity exchange.