Commentary

David Weisberger
Traders Magazine Online News

Stop the BS & Promote Real Transparency!

In this shared blog, David Weisberger says a recent WSJ article is wrong and that traders do need to purchase faster and more comprehensive market data to avoid being fined for violating "Best Execution" obligations.

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September 12, 2006

Fast Track

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*Andrew Silverman joined Morgan Stanley as head of sales for the firm's electronic trading group. Silverman was most recently at Goldman Sachs, responsible for algorithmic trading. The exec spent 14 years at Goldman.

*Michael O'Conor joined Jordan & Jordan as a consultant. O'Connor's expertise is in electronic trading, buyside-to-sellside connectivity and the use of standardized messaging. Specifically, his career has encompassed electronic trading platforms for cash trading, program trading, IOIs, allocations, fixed income, futures and options, algorithmic trading and direct market access. O'Conor was the inaugural chair of the global steering committee for the FIX Protocol Ltd. He joins Jordan & Jordan from Chapdelaine Institutional Equities.Prior to Chapdelaine, O'Conor was a managing director at Merrill Lynch.

*TradeTrek Securities made two hires in sales and trading. Robert Calice joined from BNY Brokerage. Philip Adesso joined from Bernard L. Madoff Investment Securities.

*Tomas Bok was promoted to head the equity quantitative analytics group at Lehman Brothers. The Lehman employee replaces David Cushing who recently left.

*James "J.J." Allingham joined Goldman Sachs as a vice president, selling the firm's electronic trading products. Allingham, previously with Portware in New York, reports to Jana Hale, who heads the business unit.

*Jeff Radtke joined Lehman Brothers as head of program trading. Radtke had worked on the program trading desk at Deutsche Bank since 1998. Before that he was on Morgan Stanley's program desk.

*David Cushing joined Wellington Management. Cushing was previously at Lehman Brothers where he was in charge of equity quantitative analytics.

*Jason Glover joined Jefferies & Company as a senior equity derivatives trader in the firm's new equity derivatives trading group. Glover was most recently a portfolio manager at Pequot Capital. Earlier, Glover had worked on the derivatives desk at Goldman Sachs. He is the fourth hire for Jefferies' new desk. All previously worked together at Goldman.

*Scott Harrison joined UNX, an institutional brokerage based in Los Angeles, as president and chief operating officer. Harrison was also elected to UNX's board of directors and will become co-chairman of the firm's operating committee. He reports directly to Michael Dura, chief executive of UNX, and to the firm's board of directors. Harrison joins UNX from Investment Technology Group, where he spent 13 years. He was most recently director of global trading products at ITG, in charge of expanding the company's trading applications and algorithmic services into global markets.

*Roger Burkhardt joined the Ingres Corporation, a database software company, as president and chief operating officer. Burkhardt was previously chief technology officer and executive vice president at NYSE Group for six years.

*David Klinger is expected to be namedCEO in AsiaforLiquidnet, the buyside matching system that is launching a Far East operation. Klinger, an Australian, previously headedsales for Credit Suisse's Advanced Execution Strategies (AES) product in Asia.