Commentary

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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March 1, 2001

Fast Track

By John A. Byrne

*Knight Trading Group in Jersey City hired George Lasky, formerly of Prime Charter and Joseph Palma, from J.P. Morgan Securities. Both joined the firm's block trading desk, which is headed by senior vice president Mark Neiderfer.

*Jefferies and Company in New York hired Tim Miller from the Plexus Group, as a quantitative trader on the firm's program trading desk. Chris Troy from CIBC Oppenheimer, joined as an OTC market maker.

*William D. Sheffey, a senior equity trader at Commerce Bank in Kansas City, Mo., was promoted to vice president, investment management group.

*Ed Laux, formerly head of equity trading at ABN AMRO in New York, left the firm to form a small trading partnership.

*The Nasdaq Stock Market named senior vice president James Cangiano as liaison to NASD Regulation. Ghanshyam Dass, previously general manager and chief executive of Majan International Bank in the Sultanate of Oman, was appointed director, South Asia. He will be based in Nasdaq's liaison office in Bangalore, India.

*The New York Stock Exchange moved four senior vice presidents up as executive vice presidents: Noreen Culhane, new listings and client service; David Doherty, enforcement; Salvatore Pallante, member firm regulation; and Robert Zito, communications. Promotions from managing director to vice presidents included Michael Cohen, marketing communications; Susan Light, enforcement and sales practices; Rex Mixon, Jr., enforcement; Angela Posillico, regulatory and administrative systems; Daniel Saporito, member trading analysis; and Donald van Weezel, regulatory affairs.

*The American Stock Exchange promoted Michael Ryan to executive vice president and general counsel. He was previously chief of staff and senior legal advisor, and also served as counsel to Frank Zarb, former chairman of the National Association of Securities Dealers.

*LaSalle Bank N.A. in Boca Rotan, Fla. named Karen M. Francel vice president, marketing manager. She was previously first vice president of asset advisory services for McDonald Investments in Cleveland. Patrick J. Kelly was promoted to managing director of the LaSalle's broker dealer services division. He was formerly senior vice president and chief administrative officer.

*Lynch, Jones & Ryan in New York appointed Jeremy Welch and Oliver Berry as co-managers of European sales. Both were previously vice presidents in the firm's plan sponsor sales department.

*Radianz, a New York-based network provider, hired Stephane Leroy as the firm's sales manager for France. He was previously NCR's Europe, Middle-Eastern, and Africa sales director. Kevin Formy joined Radianz, as head of U.S. sales. He previously worked in business development and marketing roles at Equant.

*BB&T Capital Markets in Richmond, Va. hired Ray Kady from Sun Trust, as an institutional trader, and Daniel Brajkovic, previously with Bank of America, as a Nasdaq market maker. Ray Carbocci, formerly a purchase and sales clerk at BB&T, became an agency trader.

*Alex Stevenson joined Principia Partners, a Jersey City-based, front-to-back office solution provider, as director of electronic commerce services. He was formerly IT director at Integral.

*GAIN Capital, an online currency trading firm in Warren, N.J. hired Gordon Smith, a former consultant and information systems manager at Goldman, Sachs & Co., as vice president, systems development. Koren Reyes, from Royal Bank of Canada, joined the firm as director of business development. John Comatas, previously with Prudential Securities, and David Leaver, from BankBoston, joined as senior traders.

*International Securities Exchange in New York appointed Gary Katz as chief operating officer. He is a co-founder of the firm and was previously senior vice president of marketing and business development.

*Wofex, Inc. in New York appointed Michael Earlywine as vice president, product strategy and trading. He was previously a quantitative equity trading and portfolio manager at George Weiss.