Commentary

Tim Quast
Traders Magazine Online News

We're All HFTs Now

In this guest commentary, author Tim Quast looks back at the history of HFT and how the market has evolved to where many firms now fit the definition of high-frequency trader.

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September 30, 2000

Fast Track

By John A. Byrne

*Mark Berti, previously with Credit Suisse First Boston, joined as head of sales trading at WestLB Panmure Securities in New York.

*New York-based IPC Information Systems, a Global Crossing Ltd. company, named John Faccibene president of its operations division. Faccibene, previously managing director of global network operations for IXnet, a sister company of IPC, succeeds William Lavery, who is retiring.

*International Assets Holding Corp. in Winter Park, Fla., appointed William C. Dennis, Jr. as president and chief operating officer. Dennis was previously a senior executive at Merrill Lynch and Freedom Securities.

*Paul Bennett, previously vice president, technology, was promoted to senior vice president, market operations at the International Securities Exchange in New York.

*Thomas Daniel, previously with Hoak Breedlove Wesneski, joined First Southwest in Dallas as a Nasdaq market maker.

*Jason Skinner was promoted to head trader at the buy-side firm of Barrow, Hanley, Mewhinney & Strauss in Dallas, Texas. Carrie Canter, previously the firm's head trader, left to be a stay-at-home mom.

*Don Meccia joined the San Francisco office of BNY ESI & Co. as vice president of institutional sales. He was formerly vice president of marketing, membership, and strategic planning for the Cincinnati Stock Exchange.

*Tracey E. Aronson was named chief of staff to Securities and Exchange Commission chairman Arthur Levitt. She was previously director of the SEC's Office of Congressional and Legislative Affairs. Aronson succeeds Jennifer A. Scardino, who joined the London office of Citigroup as director of corporate affairs for Europe, the Middle East, and Africa.

*William O'Brien, previously assistant general counsel at Goldman Sachs, joined BRUT ECN as senior vice president and general counsel.

*Rom-Bo Trading in Chicago beefed up its trading desk. Rodney Purkey, previously

with First Continental Trading, joined as an agency market maker. Bryan Gallager, from the Osakee Exchange System, joined as an agency market maker. Josh Palmet, who recently spent four years of active duty in the U.S. Navy, joined the firm's basket execution department. Kevin Wales, previously with LFG L.L.C., joined as a manager of derivative products. Todd Weiss, a recent graduate of the University of Arizona, joined as an assistant trader.

*Paul I. Curtis, previously with Instinet, joined as senior vice president and director of global equity development, at Universal Trading Technologies, a subsidiary of Ashton Technology Group in Philadelphia. Stephen Hovagimayan, from MeCCA LLC, joined as vice president, institutional sales group. Pamela R. Schumacher, previously at Instinet, joined as vice president, institutional sales.

*Rudolph Ferscha, chief executive at Goldman Sachs, was named chief executive at Eurex, the Swiss-German derivatives exchange.