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January 1, 2003

Fast Track

By Editorial Staff

*Themis Trading LLC., a New York based institutional agency broker in OTC and listed equities, has added two ex-Instinet veterans. Aviva Arnuk will focus on institutional sales and Victor Gonzalez will join the institutional trading desk. Themis Trading was established earlier this year by three industry veterans, Sal Arnuk, Joe Saluzzi and Paul Zajac.

*Brian Pfeffer, Benito Chinea, and James Craig left Brean Murray to form Direct Access Partners, a New York Stock Exchange independent floor brokerage. The three floor traders were joined by three others from Brean Murray. Direct Access has 23 employees and will conduct executions and clearing. Pfeffer is the CEO.

*The Board of Trade Clearing Corporation promoted Brett Paulson to executive vice president and chief information officer, the number two management position. He was previously a senior vice president and CIO. He joined the corporation in 1995 as the Director of Business Application Development and Database Administration.

*Beast Financial Systems named Michael Cooleen as vice president of global sales. Cooleen came from OM Technology where he was director of U.S. sales. Before he joined OM, he was with Trinitech Systems (NYFIX, Inc.) as vice president of sales. Cooleen brings to Beast Financial Systems over 18 years of senior sales and marketing experience in the financial industry.

*Knight Trading Group has once again boosted its ranks with multiple hires. Six traders, one salesman and one technologist joined the wholesaler in December. Chris Sula jumped to Knight from Merrill Lynch to co-head Nasdaq trading with existing head Joe Ricciardi. Sula is Knight's third Merrill hire of the past year. He follows Glenn Callan, now head of cash equity trading, and Tom Joyce, Knight's chief executive. John Buckley, a 10-year Spear, Leeds & Kellogg OTC vet, joined from Goldman Sachs. Chris Conefry joined from Salomon Smith Barney.

Mark Crossman and Steve Duca joined from J.P. Morgan Chase. Ken Lynch, a 30-year man, came over from UBS Paine Webber. On the sales side, Robert Bailey joined Knight in London to head up European sales. The exec was previously with Oscar Gruss in New York for five years where he held a similar position. Robert Williams joins Knight Securities, the OTC arm, as director of client connectivity. Williams, previously in charge of client connectivity at Morgan Stanley, will lead a newly established client connectivity services team to link the buyside to Knight. The wholesaler's big December binge follows on the heels of five sales traders hired for the Boston office in November.

*Reuters Group named Gerald Mintz as executive vice president and head of the content management and distribution solutions practice. He was previously chairman and CEO of Fame Information Services. Before that, he served as senior vice president for acquisitions and development at Thomson Financial.

*There was a change of the guard at securities industry research outfit TowerGroup. Robert Hegarty, previously director of the firm's investment management practice has been promoted to vice president of its securities and investment group. That's a post which was previously assigned to Larry Tabb, who was named senior strategy adviser for the firm.

*Among those elected to the board of governors of the National Association Securities Dealers are: John J. Brennan, chairman and ceo, the Vanguard Group; H. Furlong Baldwin, chairman, Mercantile Bankshares Corp., David A. DeMuro, managing director, Lehman Brothers, Kenneth M. Duberstein, chairman and ceo, the Duberstein Group, Eugene M. Isenberg, chairman and ceo, Nabors Industries and Richard C. Romano, chairman, Romano Brothers and M. LaRae Bakerrink, chief executive officer, Westfield Bakerrink Brozak, LLC.