Commentary

Robert Schuessler
Traders Magazine Online News

A Smarter Monkey

In this contributed piece, TIM noted that some traders do better than others when using data that has been run through certain analysis - that is, have used some form of machine learning to assist them.

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In his first public speech, SEC Chair Jay Clayton deviated from his prepared remarks and offered his own "off the cuff" comments on market issues. Do you like this change of pace?




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January 1, 1998

Fast Track

By John A. Byrne

Stuart Haddow was appointed an international sales manager at Braid Systems, a London-based financial technology company. Haddow, a Braid employee since 1993, will help expand the company's order delivery presence in the U.K., the Middle East and Africa.

The Boston Stock Exchange (BSE) announced six major employee promotions. D. Michael Kattman was named a vice president of finance and administration, responsible for accounting, administration, clearing and financial oversight. Karen A. Aluise was promoted to a vice president of legal and regulatory affairs. Marybeth Shay was named a vice president of sales, responsible for marketing exchange products and services while fostering client relationships. An 18-year BSE employee, Brian F. Colby was promoted to assistant vice president of surveillance and compliance. Mary M. Brausch was named a manager and internal auditor at the BSE. Milan Guerrero was promoted to a computer operator in the exchange's New York office.

Michael H. Sutton, the chief accountant for the Securities and Exchange Commission, announced his intention to resign later this month. A former partner at accounting giant Deloitte & Touche, Sutton was to protect investors by working to ensure the objectivity and independence of the firms that audit public companies. Appointed to his SEC post in June 1995, Sutton cited personal reasons for his resignation. The commission is conducting a search to fill the position.

Joan Logue-Kinder joined New York-based Lynch, Jones & Ryan as a director of marketing and communications. Reporting to chairman and chief executive Howard Schwartz, she will oversee all external communications and marketing for the institutional agency trading firm. Logue-Kinder previously served as assistant secretary of the U.S. Department of the Treasury, appointed by President Clinton.

Newly-renamed Nationsbank Montgomery Securities hired Jonathan Sandelman as a senior managing director of equity derivatives. Sandelman was a managing director of global equity derivatives at Salomon Brothers in New York, which was recently acquired by The Travellers Group. He will be based in New York, where Nationsbank plans to add more than 30 staffers.

Luby Sparber was appointed to a newly-created position at Merrill Lynch International, head of equity and debt operations. Working out of London, Sparber will concentrate on the firm's increased trading presence in Frankfurt, Madrid, Milan, Paris and Zurich. Formerly a director of equity operations in the U.K., Sparber oversees a staff of 280 and reports to Mark Alexander, head of European operations.

Jim Osborne joined EVEREN Securities in Portland as the branch manager and a senior vice president. Osborne was formerly a branch manager for Prudential Securities in Portland.

The Chicago Board Options Exchange named Robert J. Birnbaum to its 21-member board of directors. Birnbaum is a past president and chief operating officer of the New York Stock Exchange and the American Stock Exchange.

Jeff Edelman joined PaineWebber in New York as a senior retail equity analyst, reporting to Michael Culp, director of the firm's research department. Edelman moved to PaineWebber from Deutsche Morgan Grenfell in New York.

The Boston Stock Exchange (BSE) elected a new vice chairman and three new board governors for 1998.

Bruce K. Newell, a vice president at Pershing Trading Company in Boston, was elected to serve as vice chairman of the BSE board of governors.

The new governors elected to two-year terms are: Rochelle A. Bays, a senior vice president of support services and exchange trading at Charles Schwab & Co. in San Francisco; William F. Devin, a Boston-based director of the Cypress Tree Floating Income Fund and trustee of North American Funds; and David A. Herron, a vice president and manager of specialist operations at Fidelity Capital Markets in Boston.

Newell replaces Devin as the BSE vice chairman.

Kenneth Swain joined Jefferies & Co. as a senior vice president and sales trader in the equity trading division. Formerly a sales trader with Cantor Fitzgerald and Lehman Brothers in New York, Swain will be based in the firm's New York office.

Spyglass Trading in Dallas hired David Alexander as an equities and options trader. Alexander was an institutional sales trader on the cross-town desk of Principal Financial Securities before joining Spyglass.

David S. Pottruck was named co-chief executive officer in the San Francisco headquarters of Charles Schwab & Co. Pottruck will remain the firm's president, continuing to direct Schwab's administrative, financial and technology groups.