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.

Traders Poll

In his first public speech, SEC Chair Jay Clayton deviated from his prepared remarks and offered his own "off the cuff" comments on market issues. Do you like this change of pace?




Free Site Registration

November 1, 2003

Fast Track

By Editorial Staff

*Michael Lambe joined INTL Trading at its expanded New York office. He most recently worked for Salomon Smith Barney as head of its U.K. and European retail equity trading desk which is based in London. Mike will focus on equity sales trading of ADRs and foreign ordinaries to broker dealers.

*J.B. Hanauer & Co. launched an institutional equities effort in Parsippany, N.J., naming industry vets Eli Lustgarten and Frank Fusco as directors of research and trading respectively. Both formerly held similar positions at H.C. Wainwright and Co. in New York City.

*Joseph Kennebeck, head of trading at Electronic Global Securities (EGS),

relocated from San Francisco to the EGS's new corporate headquarters in New York City. That's the central location for trading and operations. Michael Mayerhofer has also joined the EGS trading desk. Mayerhofer was previously with Merrill Lynch in Jersey City.

*Joan Stack joined the $55 billion Ohio PERS in Columbus as equity trading manager, replacing the retired Connie Love. Formerly, Stack was senior vice president and head of equity trading at ING Funds in New York City.

*Edward Bugniazet joined the investment banking firm Leerink Swann & Company in Boston as managing director and head of Nasdaq trading. Prior to joining Leerink Swann, Bugniazet most recently was senior managing director, head of global sales and trading for Soundview.

*Lance Lonergan was been promoted to head of U.S. sales trading at Citigroup. Citigroup is consolidating its New York and regional sales trading desks under Lonergan. The exec has been with the firm for 12 years. For the past year, he was managing Nasdaq sales trading desk. Lonergan will continue to maintain direct management responsibility for the trading desk in New York.

*Joe Mazzella joined Knight Trading Group as managing director of listed trading. Previously, he was with Merrill Lynch. He spent about a decade at Merrill in listed trading. Mazella also worked for Lehman Brothers from 1990 to 1993.

*Patti Regan joined Knight Trading Group as vice president, listed trading. Previously, she was at Thomas Weisel Partners where she was a senior listed trader covering multiple sectors. Regan started in 2000 as a junior listed trader in the technology sector. Regan also worked for Volpe Brown Whelan & Co. and Charles Schwab.

*FlexTrade Systems recruited Jamie Benincasa as a senior vice president in charge of sales. Benincasa comes to FlexTrade from Instinet where he ran the portfolio trading desk and oversaw development of its portfolio trading system. Prior to Instinet, Benincasa was vice president of portfolio trading at J.P. Morgan Chase, a post he held since 1998. Earlier, Benincasa handled risk and agency portfolio trading for D.E. Shaw and CS First Boston.

*Citigroup named Thomas

Rollauer global head of compliance.

He was a partner Deloitte & Touche, the accounting and consulting firm. Before that, he was at the Office of the Comptroller of the Currency.

*The Boston Stock Exchange elected two new governors to its board. Nicholas Bonn, executive vice president, State Street Corporation, and Arthur Hogan III, chief market analyst for Jefferies & Company, are the new members. They will each serve a two-year term, BSX officials said. The new governors replace outgoing governors Nicholas Loparado and Joseph Marinaro.

*The Chicago Stock Exchange announced the appointment of Stephen Brodsky as senior vice president for Strategic Planning and Sales. He will report directly to David Herron, chief executive officer of the Chicago Stock Exchange. Previously, Brodsky served as a vice president in the Investment Banking department at Mesirow Financial.