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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April 1, 2002

Fast Track

By Editorial Staff

*Peter Santoro was promoted to president of Knight Financial Products (KFP), the options market making subsidiary of Knight Trading Group. Santoro, 31, had been serving as senior vice president of equity derivatives for KFP. Santoro joined Knight in July 2000. Before that he had stints with UBS Warburg and SBC Warburg Dillon Read, working on foreign exchange products as well as options.

*Wendy Beaver was named director of business development for the institutional client group of LaBranche Financial Services, the wholly-owned subsidiary of LaBranche & Co. Inc., launched in January. Previously, Beaver was a consultant to Nasdaq Member Relations and, before that, she was head equity trader at NationsBank.

*Peter Battaglia joined BrokerageAmerica from NBD Capital Markets as a vice president and head of broker dealer sales. Battaglia helped to build and grow NBD's broker dealer sales desk.

*Jim Marks resigned as president of Belzberg Technologies in Toronto. Sidney Belzberg, chairman and chief executive officer, will take over the post of president. Marks, who will remain with Belzberg Technologies as an adviser, will pursue other interests, the company said. John Engels was appointed vice chairman. Engels has been chairman and chief executive of Letteau Ltd.

*Stephen M. Weiss joined Enterprise Technology Corporation as a senior vice president. He is responsible for all aspects of the development, organization and management of the company's consulting and software development business in the investment management and securities trading sectors.

*Nasdaq appointed six new directors to its board: Josef Ackermann, head of the corporate and institutional clients group at Deutsche Bank; Michael Clark, managing director and head of global equity trading at Credit Suisse First Boston; William Cohen, chairman and chief executive officer of The Cohen Group; Warren Hellman, chairman of Hellman & Friedman; Kenneth Pasternak (inset), chairman of the Knight Trading Group; and Hardwick Simmons, chief executive of the Nasdaq.

*Timothy Dawson joined Euro Pacific Capital in Newport Beach, California as a sales trader. Dawson was previously with Heights Partners in New York City. He was a sales trader for Heights Partners for some six years. He worked for the firm on the floor of the American Stock Exchange.

*Thomas Ascher was appointed chief executive of Nasdaq Liffe Markets, the electronic derivatives alliance for trading single stock futures. Ascher is the former executive vice president of Interactive Brokers in Stamford, CT. At Interactive Brokers, Ascher worked on linking all the U.S. options exchanges.

*Random Walk Computing in New York City appointed Ralph Severini as vice president for business development. Previously, Severini served as business development manager for Sun Microsystems and senior vice president of marketing and business development at Mint Software Technologies, which was acquired by SunGard Data Systems.

*Frank Zarb joined Hellman & Friedman LLC. as a senior adviser and managing director. The San Francisco-based Hellman is a private equity investment firm.

*Tom Newton joined Davenport & Co. in Richmond, Va, as a vice president and institutional equity sales traders. He was formerly with Branch Cabell, a division of Tucker Antony.

*Nasdaq named Theodore J. Coburn senior vice president and head of sales in the corporate client group, which is one of three core businesses that serve its listed companies. Prior to joining Nasdaq, Coburn was president of the investment banking firm the Coburn Group. Coburn has also served as a managing director at Merrill Lynch Capital Markets. In that post, he was responsible for global equity underwriting. At Nasdaq, Coburn will report to David Weild, vice chairman.