DEFENSE

Celoxica has announced that John Oddie will take on the role of chief executive officer in addition to that of chief technology officer. The move frees current CEO Lee Staines to head up the firm's expansion in the USA, following a highly successful year noted by broadening product development and increased demand for its hardware-accelerated technology from the financial services industry.

Mr. Oddie originally joined Celoxica as a non-executive director and acting CTO in early 2008 following the re-launch of the company and has been instrumental in directing the firm's advanced trading product roadmap.

Mr. Oddie commented: "We are at an important stage in the company's development and these management changes will enable us to capitalize on our success in US markets especially, as we extend our lead in innovative, ultra-low latency solutions for high frequency trading."

John is based in the UK and has over 25 years' experience working in the financial services sector with particular focus on market trading. Until 2007, John ran the exchange business for Atos Euronext Market Solutions (AEMS), the largest business unit of the firm, which provides technology and services for global exchanges, clearing houses and capital markets. Prior to this, he was the executive vice president of Instinet's Global Equities business and has also held senior technology roles at Goldman Sachs, Credit Suisse and Merrill Lynch.