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

December 18, 2007

On The Move

By Editorial Staff

Also in this article

  • On The Move

Frederic Krieger joined NYSE Regulation to lead a new risk group, charged with identifying, tracking and addressing key external market and industry trading developments that require regulatory responses, as well as internal areas of risk. Krieger will report to Robert Marchman, executive vice president, enforcement and risk division. Krieger was most recently managing director of Riverview Capital Holdings, a private investment firm based in New Jersey. Krieger has also held compliance jobs at Citi and Charles Schwab.


Robert A. Schwartz was awarded the Lirtzman Prize by the Zicklin School of Business at Baruch College last month. Schwartz, a professor of business for 43 years, received the award for his 11 years of research, teaching and service to Baruch College, according to John Elliott, the business school's dean. Schwartz was among a handful of academics pioneering the study of what later became known as "market microstructure," which examines how securities markets operate and how orders are priced and traded. Guest speakers at the award ceremony included Harold Bradley, chief investment officer of the Kauffman Foundation in Kansas City, and Reto Francioni, CEO of Deutsche Borse.


Jenny Miller joined Bear Stearns in London as a senior managing director and head of portfolio trading sales for Europe. Miller, a 14-year veteran in portfolio sales, joins from Merrill Lynch, where she headed portfolio sales. She has also worked in portfolio sales at UBS and BZW. Her hiring follows that of Richard Bateson, who joined Bear's European portfolio trading team as a managing director earlier this year. Bateson, a 10-year veteran in portfolio trading, had worked at JPMorgan in portfolio trading, where he was responsible for risk and flow trading.


Scott Bauer took a sales position with Investment Technology Group. He was previously at LaBranche Financial Services in a sales capacity.


Nick Savona recently joined Toronto-based Evergreen Capital Partners as a sales trader at the boutique investment bank. Savona, a 15-year trading veteran, will cover Canadian accounts, but his initial charge is to get Evergreen registered with FINRA, so it can trade with U.S. institutions. Savona previously headed the U.S. trading arm of Toronto-based MGI Securities for two years before moving to Evergreen.


Ed Laux was promoted to head of U.S. trading at Cantor Fitzgerald, a new position. Laux was head of listed trading at Cantor. Also at Cantor, Tony Manzo, head of OTC trading, is retiring from that position. Manzo will stay with Cantor in a consulting role. He is being replaced by William Clark and Michael Ferry as co-heads of OTC trading. Clark was a senior OTC trader at Cantor. Ferry is new to the firm.


Laurie Berke joined TABB Group as a senior consultant in the firm's New York office. Berke has been working with TABB since early 2006 as a consultant on an informal basis. Before that she spent 10 years at Investment Technology Group in global execution services product management. There, she was responsible for the desktop product QuantEX, the early development of the EMS Triton, ITG's first algorithmic servers, the launch of ITG Canada's trading systems and their global portfolio trading system.Prior to joining ITG, Berke spent five years at Merrill Lynch, where she served as a senior vice president responsible for the launch of its portfolio trading and derivatives business.