Commentary

Tim Quast
Traders Magazine Online News

We're All HFTs Now

In this guest commentary, author Tim Quast looks back at the history of HFT and how the market has evolved to where many firms now fit the definition of high-frequency trader.

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December 1, 2004

Fast Track

By Editorial Staff

*Jeff Woodruff was promoted to global director of trading and operations at Reuters. Woodruff was previously global director of operations and STP in Reuters' asset management division.

*Lou Maiuri joined buyside giant Fidelity Management and Research as head of equity trading system technology. He was chief operating officer with Eagle Investment before the move.

*Brian Kenney went to Fulcrum Global Partners as manager of New York sales trading. Kenney was previously a sales trader with Schwab Soundview Capital Markets. Kenney has more than a dozen years experience. Prior to Schwab, he was a managing director at Soundview Technology Group, which he joined in early 1992.

*Nilesh Shroff moved to HSBC as global head of portfolio trading. Shroff previously worked at Goldman Sachs as a European portfolio trader. Shroff reports to Peter Lewis, global head of equity trading.

*Linda Giordano joined the Quantitative Services Group in Chicago as a product consultant. Before that, Giordano was head of trading research at Instinet. She has spent about a decade designing execution quality related services and developing new transaction cost analysis techniques.

*IRG Research, an independent equity research firm and broker dealer, hired Tom Campbell and Michael McCarty as senior vice presidents, institutional sales and trading in New York City. Campbell came from UBS Investment Bank. McCarty was a sales trader on the institutional equity and options desk at Miller Tabak.

*Daniel J. Ludeman (inset), president and chief executive of Wachovia Securities, LLC, has been elected chairman of the Securities Industry Association for 2005. He was elected along with several other board members. Ludeman succeeds Richard Thornburgh, vice chairman of the Executive Board of Credit Suisse First Board, who will continue on the SIA's board as immediate past chairman. James Gorman, executive vice president of Merrill Lynch & Co., was elected as SIA's chairman-elect.

*Takeshi Murakami has been appointed president and Toyko branch manager of Instinet Japan Limited. Murakami joins Instinet Japan from Schroder Investment Management (Japan) Limited. He worked for Schroder for seven years in a variety of positions. These included director, pension account management, and client services. His career has spanned some 40 years and has included senior positions on both the buyside and the sellside.

*Andy Williams moved to VhaYu Technologies in a new post as vice president, worldwide field operations. Williams came from SunGard Business Integration. Before that he was at NYFIX and legacy company Javelin Technologies. Williams will be responsible for VhaYu's customer-facing activities.

*David Rothenberg joined Nomura Securities in New York in a marketing capacity. Rothenberg was previously responsible for transition management at Barclays Global Investors in San Francisco. Before that he was with Investment Technology Group.

*Thomas Newkirk, the U.S. Securities and Exchange Commission's Associate Enforcement Director, will join the Washington D.C. law firm of Jenner & Block LLP as a partner. He has served in his present position for the last 11 years.