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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April 1, 2001

Fast Track

By Editorial Staff

*Joe Roche, previously with RBC Dominion Securities, joined Dain Raushcer Wessels in New York as a Nasdaq market maker.

*Jefferies & Company in Los Angeles hired Richard Klugman as managing director, telecom services research. Klugman, who will be based in the firm's New York office, was previously with Donaldson, Lufkin & Jenrette.

*Bridge Information Systems in New York appointed Kirk Thomas head of software development. He was previously managing the development efforts in the firm's content acquisition, central systems, network and delivery, retail/power partner, and Telerate systems.

*Matt DeSalvo was promoted to head of U.S. Cash Trading at Morgan Stanley, replacing John Avins. Formerly the head of Nasdaq trading, DeSalvo's new watch includes Nasdaq, listed and international trading. DeSalvo has been with Morgan Stanley since 1985. Keith Brickman, a ten-year veteran on the Nasdaq desk, is now its head. Jon Olesky runs listed trading. Robert Karossky runs international.

*Former SEC Chairman Arthur Levitt was named to the board of directors of Bloomberg L.P. Other new board members include Jane Bryant Quinn, a financial columnist for Newsweek; Frank Savage, chairman of Alliance Capital Management International; and Thomas Secunda, a founding partner of Bloomberg L.P.

*Joseph Lombard joined Archipelago in Chicago as executive vice president. He was previously senior counsel to Chairman Arthur Levitt at the Securities & Exchange Commission.

*Prudential Securities in New York hired Todd Kennedy as an OTC trader. He joined from Carl P Sherr & Company in Wooster, Mass.

*W.R Hambrecht & Co in San Francisco hired Robert T. Colgan as senior managing director on the East Coast. He was previously president, U.S. equities at OptiMark Technologies. Colgan will be based in the firm's New York office.

*Gina Di Paolo, previously with Donaldson, Lufkin Jenrette, joined Arnhold and S. Bleichroeder in New York as a sales trader.

*Banc of America Securities in New York hired Jack Del Duca as a sales trader. He was previously with Credit Lyonnaise.

*Stephen W. O'Neil, chairman of the Security Traders Association, joined First Pacific Advisors in Los Angeles. He was previously with Mitchell Hutchins Assets Management in New York.

*Michael R. Bloomberg, founder and chairman of Bloomberg L.P., relinquished his post to Peter T. Grauer, a member of the firm's board of directors and a managing director at Credit Suisse First Boston. Bloomberg, who will remain as chief executive, may run for mayor of New York City.

*Peter Gaffney was promoted from vice president to president of NeoNet Securities in the U.S. Before joining NeoNet Securities, a subsidiary of Stockholm, Sweden-based NeoNet, Gaffney was vice president of new business and technology development at PaineWebber.

*The Securities Industry Automation Corporation promoted Dror Segal to the position of distinguished technologist and vice president. He was previously senior technical director of shared systems.

*John Kelly, the incoming president of the Security Traders Association of Florida has joined Sterling Financial in Boca Raton, Fla. as head of the firm's equity trading department. He was previously with Southeast Research.

*Actant, the New York-based front-end electronic trading solution provider, named Kevin Gottlieb Kenety, previously with DRW Europe, as chief executive. Steve Tringham, from J.P. Morgan, joined as director of operations, based in London. John Gilbert, previously with MPCY Solutions, joined as head of sales. Ruud van den Berg, formerly with the Amsterdam Stock Exchange and European Options Exchange, joined as the firm's liason with Euronext. Peter Warton, from the London Clearing House, joined as global support systems manager.