Erik Hoel
Traders Magazine Online News

Will The Bitcoin Bubble Pop Or Will It Envelop Us All?

Guest contributor Erik Hoel asks the question whether the worst is over for bitcoin holders, or still yet to come, what is yet to come? And why.

Traders Poll

In your opinion, what is the biggest hurdle facing the blockchain?

Cost of implementation


Too many systems available


Not applicable to my business


Uncomfortable with the technology


Nobody else is using it


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July 31, 1999

Fast Track

By John A. Byrne

Knight/Trimark Group appointed John G. Hewitt president of its Knight Securities subsidiary. Hewitt will be responsible for diversifying the revenue stream at Knight Securities into options and international equities, as well as managing the firm's day-to-day business.

Hewitt was previously a vice president of electronic trading at Goldman, Sachs & Co. in New York. During his 13-year career at Goldman Sachs, Hewitt helped formulate the firm's electronic-trading and Internet strategy, spearheading joint ventures with OptiMark Technologies, Wit Capital Corp., Primex Trading, Automated Securities Clearance Corp. and Archipelago.

Julian Biggs was named a senior vice president at New York-based Lynch, Jones & Ryan, and placed as the office manager of the firm's new London branch. Biggs was formerly a director of Hoenig & Company in London, where he headed the firm's European soft-dollar business.

Lynch, Jones & Ryan also placed Edward T. Pennings in its London office as a vice president. The former senior institutional futures and options trader at ING Baring in London will be responsible for expanding Lynch, Jones & Ryan's commission-recapture programs.

Sean Sullivan joined Bridge Trading Company in New York as a senior vice president of institutional sales. Sullivan was previously with Bridge Information Systems in New York, an affiliate of Bridge Trading Company, selling data to asset managers. In his new position, Sullivan will sell the firm's trading and execution capabilities to asset managers in the Northeast.

Denise Sweeney-Shaw left Knight Securities and joined Sherwood Securities in Jersey City as a member of the broker dealer sales desk, reporting to Peter Battaglia, a vice president at the firm. Sweeney-Shaw served in a similar capacity at Jersey City's Knight Securities.

C.E. Unterberg, Towbin in New York hired James Alperin as a sales trader. Alperin, previously a sales trader at Kaufman Brothers in New York, will report to Brian Finnerty, head of institutional sales and trading at the firm.

Knight/Trimark Group appointed William Karsh senior vice president of business development at its Jersey-City-based subsidiary Knight Securities. Karsh was previously the chief operations and administrative officer at the Sun American Financial Network in New York.

Joe Rocca, Jr. has moved from Hoak Breedlove Wesneski & Co. to First Southwest Company. Both broker-dealers are located in Dallas. Rocca was in charge of Nasdaq trading at Hoak Breedlove since its inception four years ago. He will be a position trader at First Southwest.

Paul R. Donovan has been appointed president of Weehawken, NJ-based Automated Securities Clearance. He replaces Robert Greifeld who is now group CEO for the Brokerage Systems Group of SunGard Data System, Inc., ASC's parent. Donovan last served as the chief operating officer and senior vice president for the Fidelity Institutional Brokerage Group.

Maureen McCarthy now heads up all trading at San Francisco's BancBoston Robertson Stephens. Her responsibilities include both the listed and OTC markets. Previously, she spent one-and-a-half years as co-head of Nasdaq trading at the firm. McCarthy joined Robertson Stephens as a Nasdaq trader from crosstown rival Montgomery Securities in 1996.