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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January 30, 2008

On The Move

By Editorial Staff

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  • On The Move

Christine Sandler joined NYSE Euronext as senior vice president, North American sales. Sandler will be responsible for all aspects of the company's sales and marketing efforts to buyside and sellside customers. She will oversee client relationships, manage the sales team, plan and execute marketing activities, and lead cross-selling activities for the company's full suite of equities, fixed income, derivatives and market information products throughout North America. Sandler will report to Larry Leibowitz, executive vice president and chief operating officer, U.S. products.

Sandler joins NYSE Euronext from BLOCKalert, a joint venture between Merrill Lynch and Investment Technology Group, where she led sales efforts for its block-trading indications system. Prior to joining BLOCKalert, Sandler was a managing director and head of U.S. electronic sales for Merrill Lynch. In this position, she led active cross-selling initiatives and was responsible for marketing global electronic products to U.S. institutional clients. Before joining Merrill Lynch, Sandler was head of sales at Wave Securities.


Bill Fallon joins GL Trade NY as senior vice president of the sales trading and connect unit. He'll be responsible for selling GL's suite of front-end, connectivity and value-added plug-in products for the buyside and sellside. GL products connect to 135 different markets, both domestic and international, as well as across asset classes that include cash equities, options, futures and derivatives. Fallon will be based in New York. He brings more than 20 years of financial services industry experience.

Prior to joining GL Trade, Fallon headed the OMS division of NYFIX, where his responsibilities included the launch of the Renaissance Market Making System, along with NYFIX Fusion. Before that, he was vice president of sales for SunGard Trading Systems' BRASS.


Kay Lackey joined the Securities and Exchange Commission as associate regional director in the New York office. Lackey will oversee and manage the SEC's enforcement program in the New York area. A 12-year SEC veteran, Lackey was previously an assistant regional director of enforcement in New York. Lackey replaces Helene Glotzer, who quit to join Bridgewater Associates of Westport, Conn.


Kristian West joins JPMorgan Asset Management as head of trading strategy within the firm's European trading team. He will be responsible for finding optimal strategies to execute client account orders at the lowest transaction costs. Formerly, West was head of European execution at Barclays Capital, where he served the hedge fund community in equities, foreign exchange, ETFs and index futures. West is based in London and reports to Daemon Bear, head of trading.


Philip Adesso joined Dow Jones & Co. as a salesman for the firm's quantitative news-based products. Adesso, a longtime market maker, was most recently a sales trader on the program trading desk at TradeTrek Securities.


Glenn Wilson joined Cogent Consulting last month at the firm's new London office, where he will head the commission management firm's sales effort in Europe. Wilson, who has marketed financial services products at various firms, is targeting both the buyside and sellside, due to the increased usage of commission-sharing arrangements.


Pyramis Global Advisors, the institutional arm of mutual fund giant Fidelity Investments, has added five people to its equity trading and operations team, which is run by Michael McCauley, head of trading.