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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.

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

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