Joseph Lombard, a market structure expert at law firm Murphy & McGonigle, is considered to be a leading candidate for a position in the agency's Trading and Markets Division, three of those people said.

A second name being floated for a possible job in the division is Chris Concannon, a former executive with Nasdaq OMX Group Inc who now works for high-frequency trading firm Virtu Financial LLC, according to three sources, who spoke anonymously because the discussions are non-public.

(Reporting by Sarah N. Lynch in Washington and John McCrank in New York; Editing by Gerald E. McCormick)