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Elaine Wah

Modern Markets, Modern Metrics - A Blog By IEX

In this blog by IEX's Elaine Wah, the newest public exchange looks to refute public claims that the metrics it uses are designed to inflate its own volume numbers and mislead people.

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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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June 30, 1998

Fast Track

By John A. Byrne

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  • Fast Track

PaineWebber named Stephen Mortati head of over-the-counter trading. Previously head of Nasdaq sales trading at ABN AMRO Incorporated, Mortati will remain based in New York.

Greg Prime also joined the New York OTC desk at PaineWebber as a sales trader. Prime was previously a sales trader at San Francisco-based investment bank Hambrecht & Quist.

And Donnie Daniels and Dave Hylka were named OTC traders at PaineWebber in New York, reporting to Patrick Davis, head of OTC trading. Both Daniels, at Robinson-Humphrey, and Hylka, at Salomon Smith Barney, were previously New York-based OTC traders.

Jim Quinton joined Avalon Research Group, a Boca Raton-based institutional research boutique and brokerage firm, as vice president of institutional research and sales. Quinton was formerly a vice president of institutional sales at Nutmeg Securities in Providence. He will be based in Avalon's Providence office.

The over-the-counter trading department at Josephthal & Co. in New York promoted three assistants to traders. Michael Beaver, Dave Holloway and Shkylar Pavel were named OTC traders, reporting to Lex Pomper, Josephthal's head of OTC trading.

Simon Spenser, an astrophysicist turned software developer, joined Jersey City's Knight Securites as a chief strategy and technology officer. Previously, Spenser ran the third-market division at New York's D.E. Shaw & Co. Spenser's hiring is part of a larger employment boom at Knight as the wholesaler prepares for its intitial public offering.

Dennis Kelly, previously a Nasdaq trader at Vector Securities in Chicago, was named head of listed trading at George K. Baum & Company in Kansas City.

Edwin J. McGuinn joined LIMITrader Securities in Princeton as president and chief executive. LIMITrader owned and operated by Greenwich-based Weeden & Co.'s Automated Trading Systems is an electronic bond-trading system. McGuinn is a former executive and manager at Chicago-based Rodman & Renshaw, and New York-based Lehman Brothers and Mabon Securities. He was most recently head of operations at InterVest Securities, a rival bond-trading network, in Berwyn, Pa.

Derek Bayarri moved cross-town to join the Boca Raton desk at J.W. Genesis Financial Corp as a position trader. Bayarri was formerly a position trader at Barron Chase.

Jersey City's Sherwood Securites promoted Peter Battaglia to vice president of broker-dealer sales trading. Battaglia was previously Sherwood's public-relations manager.Sherwood also hired Louise Thompson as a sales trader on the broker-dealer desk. Thompson, who will report to Battaglia, joined Sherwood from New York's D.H. Blair & Co., where she was an agency trader.

Ralph Davis was named director of sales and marketing at Dallas-based Capital Institutional Services. An employee of the institutional brokerage firm since 1988, Davis most recently served as its regional sales manager for northeastern New England. In his new role at Capital Institutional Services, he will oversee all sales, marketing and client service.

The Chicago Board Options Exhange (CBOE) promoted two employees, Carol E. Kennedy and Amy Zisook. Kennedy, previously director of public relations for the CBOE, was named vice president of corporate communications. Zisook, who will continue in her duties as the CBOE's director of civic and governmental affairs, was also named an exchange vice president.