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David Weisberger
Traders Magazine Online News

Stop the BS & Promote Real Transparency!

In this shared blog, David Weisberger says a recent WSJ article is wrong and that traders do need to purchase faster and more comprehensive market data to avoid being fined for violating "Best Execution" obligations.

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June 30, 1998

At Deadline - Richard Holway

By John A. Byrne

One of the brightest stars on the buyside has joined Los Angeles-based Jefferies & Company. Richard Holway, 42, formerly director of trading at Minneapolis-based Investment Advisors, will lead all design, development and marketing efforts for Jefferies' @Harborside system.

"We are delighted to retain Rick Holway to lead this venture," said John Shaw, Jefferies's national sales manager, in a prepared statement. "We are committed to engage the best people in the business."

@Harborside was formed to assist institutional traders in searching for liquidity, while protecting confidentiality.

For his part, Holway said Jefferies' experience in negotiating complex transactions, coupled with the advanced technology of @Harborside, will increase the probability of finding the natural counterparty in institutional trading.

"@Harborside offers a simple solution to the problem of finding liquidity and minimizing market impact. It complements both traditional and innovative ways of doing business," Holway added.