The Modern Markets Initiative, the Washington-based trade group for the high-frequency trading sector set up by PR veterans of the Obama and Romney campaigns, has named a CEO and brought in lobbying support.

mmiJDA Frontline and Blue Engine Message & Media are working the PR front for the organization, founded in January by JDA's Kevin Madden, former press secretary and senior advisor to Romney, and Blue Engine's Erik Smith, a senior advisor and media guru for President Obama's two national campaigns.

MMI said today it has engaged DLA Piper to handle regulatory and public policy matters while trading industry vet Bill Harts (Bank of America, Citigroup, Nasdaq) takes the reins as CEO.

Hart said in a statement that he will work to "educate people about the benefits of high frequency trading and lead the ongoing debate as to how to improve our market structure.

Smith and Madden formed MMI earlier this year with the backing of several trading firms amid criticism and political scrutiny of the industry.

DLA Piper's team includes Bart Chilton, former commissioner for the Commodity Futures Trading Commission, which regulates the futures market.