Kenneth I. Rosenblum, president of the Midwest Stock Exchange, has resigned to join Dimensional Fund Advisers, a private money-management firm in Santa Monica, the exchange has announced.

Rosenblum, 44, joined the exchange in 1972 and became president in 1983. A successor has not yet been named.

Exchange officials Rosenblum said will join Dimensional Fund Advisers as president and chief executive. The firm deals with institutional investors such as pension funds.

Before joining the stock exchange, Rosenblum spent six years as an attorney with the U.S. Justice Department and the Securities and Exchange Commission.