Commentary

Derek Edward Schloss
Traders Magazine Online News

What the !@#$ is a Security Token?

In this first part of a series, Mr. Schloss will begin to explain what a security token is by explaining how the building blocks of securities law are fundamental to understanding the tremendous value security tokens will one day unlock.

Traders Poll

Would you like to see more stories about Cannabis and trading?





Free Site Registration

July 31, 2004

The Merrill Bernstein Shuttle

By Staff Reports

Sanford C. Bernstein & Co, feeling the same stock trading profit pressures as many of its competitors, has just named its third head of equity trading since the turn of the century. Tom Wright, a former Merrill Lynch stock trader, will replace Matt Andresen, who left earlier this year to join Citadel Investment Group.

Wright will supervise a staff of some 65 senior traders in New York and London making trades for institutional investors. The post, vacant since February, has been a virtual revolving door since 2000. Prior to Andresen's term, another former Merrill hotshot, Tom Joyce, ran trading but left in May 2002 to become CEO and President of Knight Trading Group.

Wright was head of U.S. cash equity trading at Merrill. He joined in 1984. He left in February, a spokeswoman said. Some other trading talent are also absent from Merrill. Leo Ressa, who ran the international trading desk and Ed McMahon, who supervised listed stock trading operations, have been on leaves of absence. Ressa was replaced by Matt Montana.