Nasdaq OMX has rehired Charlotte Crosswell, the former head of its international listings business, as president of the Nasdaq OMX pan-European market, a platform being launched this year to link multiple trading pools across Europe.

Ms Crosswell, who led Nasdaq International from 2004 until last summer, when she left to join the Pension Corporation, will be based in London and take responsibility for the operations and strategic development of the pan-European market.

Linking numerous pools of liquidity is likely to be one of the key factors contributing to the success of exchanges in the future, with traders increasingly keen on a one-stop shop for all of their trading needs in order to save costs.

The pan-European exchange also seeks to capitalise on the liberalisation of share trading across Europe since new rules on share trading, known as Mifid, took effect in November.

The rules require brokers to secure the "best execution" for their clients, levelling the playing field across the European Union by ensuring investors have access to all markets at the same transparent price, regardless of location.

The Nasdaq OMX PanEuropean Market is scheduled for launch in September, pending approval from the Financial Services Authority, and is targeted at high-volume market participants such as hedge funds using algorithmic trading.

Nasdaq OMX said the system would offer share trading in the constituents of all leading European indices, including equities listed in Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Sweden, Switzerland and the UK.

Ms Crosswell will report to Chris Concannon, the New York-based executive vice-president for transaction services at Nasdaq OMX.

"Charlotte has an in-depth knowledge of the European and global exchange business and this, in combination with her sales, marketing and investment industry expertise, make her an ideal leader to develop and take our new platform forward," said Mr Concannon.

At Pension Corporation, the London-based pension management company, Ms Crosswell was responsible for the business strategy, as well as developing relationships with customers, the actuarial community and the media.

Before she joined Pension Corporation, Ms Crosswell was head of international listings for the Nasdaq stock market.

Ms Crosswell has also previously held management positions at the London Stock Exchange, including head of international business development.