Commentary

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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November 1, 2000

Fast Track

By John A. Byrne

*Morgan Stanley Dean Witter in New York named Stephan Newhouse and Vikram Pandit as co-presidents and chief operating officers of the institutional securities group. Both report to John J. Mack, president and chief executive of Morgan Stanley. Pandit will focus on sales and trading; Newhouse on investment banking and international activities.

*J.B. Oxford in Beverly Hills hired Tami Bainbridge, previously a specialist with Dempsey Trading, as a market maker, and Ivan Parry, formerly a specialist at the Pacific Stock Exchange for EVEREN, also as a market maker.

*Maryann Gorman, a former Salomon Smith Barney pro, joined WIT Soundview in Stamford, Conn. as a position trader. Brendan O'Brien, formerly an assistant position trader, was promoted to position trader.

*Jefferies & Co. named Richard B. Handler as chief executive. He will assume this post on January 1, 2001. Handler succeeds John C. Shaw, who will remain president and chief operating officer, a post he and Handler have shared since January 2000.

*Charles Fisher, previously a managing director and vice president at Neuberger Berman, joined Jefferies in New York as senior vice president within the firm's prime brokerage services group. He works with David Conover, head of the firm's prime brokerage unit.

*Trading Technologies in New York named two senior executives from the Deutsche Borse Group to the management team of the newly created Trading Technologies Europe division. Andreas Preuss joined as president and Michael Peters joined as managing director and vice president of business development.

*Kathryn Trkla joined Foley & Lardner, a Chicago law firm, as a partner in the broker dealer practice group. Trkla was previously associate general counsel at the Chicago Board of Trade.

*Ashton Technology Group in Philadelphia named Samuel R. Lipson, formerly a managing director at Charles Schwab & Co., as vice president of global systems.

*Barry O'Brian, previously a managing director at Donaldson, Lufkin & Jenrette, joined Salomon Smith Barney as managing director and head of U.S. execution for capital markets.

*Fleet Trading hired Frank Mastropasqua and John McCune as senior traders in Jersey City. Both came from Morgan Stanley Dean Witter. Jerry O'Brien, also from Morgan Stanley Dean Witter, joined as a senior trader in Fleet's Long Island office.

*The symbol for NDB Capital Markets, formerly Sherwood Securities, has changed from SHWD to NDBC.

*Tradescape.com in New York appointed John Palazzo and Scott Gracyzk as co-presidents of Tradescape International. Before joining, Palazzo and Gracyzk were co-heads of global sales and account management at Instinet. Both report to Michael Sanderson, chairman of Tradescape.

*Alex Jacobson joined International Securities Exchange in New York as vice president, marketing and business development. Jacobson came from the Chicago Board Options Exchange where he was vice president of business development.

*The Securities and Exchange Commission named Wayne M. Carlin regional director of the agency's Northeast region. He was previously senior associate regional director of the northeast region.

*Capital Institutional Services in Dallas named Carrie Carter as an adviser to the firm's domestic equity trading desk. She was formerly head equity trader at Barrow, Hanley Mewhinney & Strauss in Dallas.

*Ladenburg Thalmann in New York, beefing up its OTC operation, added a squad of market makers: Sinan Aktar, Thomas Bell, Dan Decastro, and Anthony Kerigone joined from Frankel & Company. Other new market makers include: Bob Serry, from Liberty Brokerage; Peter Cooper, from Garban Capital; James Cahall, from Tullet & Tokyo; Mark Duncan, from First Union; Timothy Engeles, from Wien Securities; George Lindner from Raymond James & Associates; John McFarland, from J.P. Turner & Company; Mike Racaniello, from HCFP Brenner Securities; and Michael Sullivan, from ISG Capital.