Nasdaq Replaces Cybersecurity Chief With Markets Veteran

Nasdaq OMX Group Inc. has a new person in charge of the exchange operator’s electronic defenses.

Mark Graff, Nasdaq’s chief information security officer since 2012, left the company at the end of last month and his role has been filled by Lou Modano, according to spokesman Ryan Wells. Modano, a senior vice president, will keep his position as global head of infrastructure services. Modano joined Nasdaq in 2009 and previously worked at NYSE Euronext.

Graff formed a New York-based consulting and training company called Tellagraff, according to his LinkedIn profile. Wells said he left Nasdaq to pursue speaking, consulting and writing opportunities. Graff didn’t immediately respond to an attempt to contact him through LinkedIn.

The greatest threat to financial markets is lapses in computer security, Depository Trust & Clearing Corp. said in 2013. Hackers broke into a Nasdaq system that facilitates communications among corporate directors four years ago and in 2013 intruded into computers at CME Group Inc., a futures market owner. When a consortium of global exchanges created a committee a year ago to enable collaboration on building fortifications, Graff was named the founding chairman.

A World Federation of Exchanges study released in 2013 found that 53 percent of exchanges had been attacked in the prior year. The WFE group that Graff chaired was set up to develop cybersecurity best practices, facilitate the sharing of information on threats and communicate with government officials and regulators.

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