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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September 22, 2005

Fast Track

By Editorial Staff

*Alex Goor will become co-president at Instinet. Goor is currently president of INET, an Instinet subsidiary being sold to Nasdaq. Goor will share the presidency at Instinet with Mike Plunkett.

*Paul DiBlasi has been named president of ATPI. It provides technology for small to mid-sized hedge funds. The vendor joins ATPI from SunGard's Brass.

*Charles Dolan joined Kellogg Specialist Group as a specialist on the floor of the New York Stock Exchange. Previously, he was a specialist with Van Der Moolen Specialists USA.

*Stuart George was named head of equity trading at Delaware Investments. George had previously been a senior trader at the Philadelphia-based firm with $25 billion in equities under management. He joined Delaware Investments in 1997 from the Ohio Teachers Retirement System. George replaces Robert DiBraccio. He had been with the firm since 1992.

*Piper Jaffray hired three sales traders to staff its new Boston office. Rob Reilly joined Piper as a senior sales trader and manager of the new office. Reilly spent the past seven years with Prudential Equity Group. Marc Beran and Scott Spottiswoode also joined Piper. Beran previously worked at Fidelity Capital Markets for five years and Fidelity Management and Research for seven years. Spottiswoode joins Piper from Susquehanna Financial Group where he spent the past three years.

*LL Partners, an independent New York Stock Exchange floor brokerage, has made two hires. Jennifer Williams joined from Griswold Company. Marc Zenna joined from C.J. LeDone Equities.

*Stephen Bookbinder joined Chatsworth Securities, Greenwich, Conn, as a managing director. There he will focus on advising the firm on opportunities in the global electronic capital markets area. Bookbinder was previously head of sales at eSpeed and Bloomberg Tradebook.

*LatentZero reorganized its sales and marketing operations. The buyside order management systems vendor hired Gerry Gualtieri as director of global sales. The firm also moved Paul Charie into the newly created position of director of client management. It also promoted Gail Romano to director of North American operations and global marketing. Gualtieri joins LatentZero after years as an independent consultant and a decade at Thomson Financial.

*Ed O'Connell joined Quintin Group as a floor broker at the New York Stock Exchange. O'Connell previously worked for Merrill Lynch and as an independent at the NYSE.

*Stuart Tolander joined Quantitative Services Group as a product consultant. Tolander brings 18 years of institutional trading experience to the QSG team. Most recently, Tolander was vice president of sales at Harborside, which recently closed its doors.

*FJG Securities, an independent New York Stock Exchange floor brokerage, made two hires. Edwin Gonzalez and Sean Greenwood both joined from Westminster Securities.