Investment Technology Group's (ITG) head of execution services, Jamie Selway, is the front runner to lead the trading and markets division at the SEC, sources told Reuters.

Selway is considered an expert on equity market structure and was the co-founder of institutional agency broker White Cap Trading and was a member of the board of directors at exchange operator Bats Global Markets from 2008 to 2015.

Incoming SEC chair Jay Clayton is focusing on his confirmation in the Senate at the moment and did not offer comment about Selway's appointment to Reuters.

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