Commentary

Jared Dillian
Traders Magazine Online News

Was it Worth It?

In this piece from 10th Man, author Jared Dillian discusses how the ETF revolution is less about ETFs and more about indexing; about how people have come to view stocks less as stocks and more as blobs of stocks.

Traders Poll

Would you feel better if the Chicago Stock Exchange were purchased by U.S. firm or consortium rather than a foreign one?

Yes

73%

No

4%

Doesn't matter to me

23%

Free Site Registration

June 30, 2004

Fast Track

By Editorial Staff

*Ryan Kwiatkowski was named assistant director of trading and manager of dealer sales at Empire Financial in Orlando, Florida. Kwiatkowski spent the past five years in Raymond James Financial's equity capital markets division. Ryan will be in charge of all agency trading, including the broker network, discount trading, and retail customer trading.

*Virginia Hillman, previously of BrokerageAmerica, joined Seaboard Securities, in Florham Park, N.J. She came aboard as a market maker for the Bulletin Board department.

*Mesirow Financial hired David Slavik as a senior managing director in its broker dealer and investment advisers group. Before joining Mesirow, Slavik was responsible for correspondent sales and senior relationship management at Pershing, LLC., in Oakbrook, Illinois.

*Tony Guidi, a ten-year trading vet, joined Boston-based Leerink Swann & Company as director of institutional trading. Guidi was most recently at Deutsche Bank/Alex Brown, trading for institutional accounts.

*Crown Financial Group named Chuck Kennedy III, hired from Knight Trading Group, to replace John Leighton as acting chief executive. Leighton, also a former Knight executive, is on administrative leave.

*Fulcrum Global Partners, a New York brokerage, hired Pete Battaglia (inset) and Steven Kessler to run a Bulletin Board and Pink Sheets desk. Battaglia is manager of broker dealer sales. The exec most recently held a similar position at BrokerageAmerica. Kessler is manager of trading for the new Fulcrum department. The trader has some 38 years of experience in equity departments including Sherwood Securities, Schwab Capital Markets and Knight Securities. Fulcrum also hired Doug Henderson as director of sales trading. Henderson has some 14 years of Wall Street experience, most recently as head of sales trading at SoundView Technology.

*John Petschauer joined Micro Design Services (MDS) as CEO. Petschauer will manage strategy for MDS. Petschauer was previously chief technology officer at New York Stock Exchange floor brokerage The Griswold Company.

*Knight Trading Group added four international sales traders to its London-based Knight Equity Markets International division. Hugh Bleahen joined from Credit Suisse First Boston. John Holl, Guy Gibson and Gary Sillence joined from Citigroup Global Markets.

*Matt Andresen joined the market making unit of Citadel Investment Group, one of the country's largest hedge funds. The former chief executive of the Island ECN will work with Citadel Derivatives Group, a market maker in listed U.S. options. Andresen was most recently in charge of equity trading at Sanford C. Bernstein & Co.

*Patrick Lynch joined SunGard Trading Systems/BRASS as executive vice president and national sales manager. Lynch has more than 20 years experience in the securities industry, including three years as president of Sector, a subsidiary of the Securities Industry Automation Corp.

*Rick Pugh joined FutureTrade, a vendor of front-end trading products for the equity and options markets, as executive vice president of product development. Pugh was most recently vice president of product management at Akonix Systems.