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, 2001

Fast Track

By Editorial Staff

* Nasdaq Liffe Markets (NQLX) appointed a new management team: William G. Boyk, previously with the Chicago Board of Trade, joined as executive vice president, market operations; Barbara A. Richards, formerly with the Chicago Stock Exchange and the Chicago Mercantile Exchange, joined as executive vice president, market development; Kathleen M. Hamm, from the Securities and Exchange Commission, joined as senior vice president, compliance and regulation; Larry J. Brown, previously with Archipelago, joined as vice president, business development; and Debbie Gruetzmacher, who has a background in operations and clearing, joined as vice president, clearing and membership.

*NASD Regulation named John M. Gannon as director of investor education. He was previously with the Securities and Exchange Commission.

*Fred Alger Management in New York rehired Steve Thumm as an equity trader. Thumm, who was formerly with Omega Advisors and JLF Asset Management, was previously with Alger for 10 years.

*Richard Walker was appointed general counsel of Deutsche Bank AG's corporate and investment banking division He was previously director of enforcement at the Securities and Exchange Commission.

*M.H. Meyerson & Co. in Jersey City named Anthony Dudzinski president. He was previously vice president, operations. Howard Tang, formerly with Schwab Capital Markets, joined the firm as vice president, sales trading.

*The Philadelphia Stock Exchange hired John O'Hara as director of project management. He was previously director of brokerage services at Bankzip.com. John Cusick was appointed vice president, examinations. He was formerly with NASD Regulation. Arlinda Willis joined as vice president, compliance. She was previously with the Pennsylvania Securities Commission.

*Brian Falls joined Capital Institutional Services in Dallas as a sales trader. He was previously with Wells Fargo.

*Knight Trading Group in Jersey City promoted Scott M. Littman to president of Knight Securities and Steven Z. Hajas (inset) to president of Knight Financial Products LLC. Littman was previously co-head of Nasdaq market making at Knight Securities and Hajas was formerly senior vice president and head of trading at Knight Financial Products.

*Steve Braverman returned to Alexander, Wescott & Co. in New York as managing director of equity trading. Braverman was previously head of equity trading from 1997 to 1999, when he left the firm to attend to family matters. He was formerly managing director of listed equity trading at Knight Trading Group.

*Jefferies & Company in New York named John C. Shaw, III head of the firm's portfolio trading desk and Robert J. Sehr head of portfolio trading sales. Both joined as senior vice presidents and were previously with Investment Technology Group (ITG). Gajender Singh, from ABN Amro, joined as vice president, portfolio trading. All report to the firm's national equity sales manager, C. Rory Corrigan,

*Williams Capital Group in New York named Jay Ryan principal and equity sales manager. He was previously with Oscar Gruss & Son.

*Hank Giordano, previously with the Nasdaq Stock Market, joined Royalblue in New York as a senior sales manager.

*Blackwood Trading in New York named John A. Forlines chief executive. He was previously co-chief executive of OffRoad Capital, an online private equity firm, and previously a managing director at J.P. Morgan and co-head of the firm's U.S. technology and telecommunications investment banking group.

*Jim Marks joined Belzberg Technologies in Toronto as president. He was previously a director at Credit Suisse First Boston and formerly a managing director at Deutsche Banc Alex. Brown.

*Macgregor, a Boston-based provider of buyside order management systems, hired Rob Flatley as executive vice president, sales and marketing and Thomas Chippas as vice president, sales. Both were previously with Financial Technologies International. Martin Courage, from Fleet/Quick & Reilly, joined as senior vice president, client management.