One of the pioneers of Internet-based mortgage-backed securities trading, Ultraprise Corp., has appointed a new chief executive officer to execute plans the company's previous CEO has laid out.

John Bourne has been selected to replace David Levine, who co-founded Ultraprise.com and launched it in February 1999. Bourne was formerly Ultraprise's chief operating officer, and has 27 years of financial technology experience, including serving as CEO of the U.K.-based financial technology company QSP Inc., a provider of enterprise-wide financial information systems.

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