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

August 6, 2009

People On The Move

By Editorial Staff

Also in this article

  • People On The Move

Nasdaq OMX Group last month hired Eric Noll as head of the group that oversees Nasdaq's trading operations. The former Susquehanna executive oversees the trading operations of all U.S. transaction services businesses, including the Nasdaq Stock Market and other exchanges, and strategic investments such as the International Derivatives Clearing Group. Noll will also have responsibility for Nasdaq OMX Europe, the London-based multilateral trading facility.

Noll previously served as managing director of SIG's Susquehanna Financial Group division, and as associate director and global head of strategic relationships for SIG since 1994. He oversaw exchange relationships, created the investment banking department, developed an institutional equity research department and was responsible for all options and equity order flows for the market-maker operation. Before working at Susquehanna, Noll held positions at the former Philadelphia Stock Exchange and the Chicago Board Options Exchange.


John DiBacco rejoined UBS as global head of electronic volatility trading. DiBacco, who started at UBS in 1998, went to JP Morgan for a two-month stint before his recent return. At UBS, DiBacco has run a number of different lines of business. They include: head of U.S. Derivatives Trading, head of U.S. Convertible Bond Trading and head of U.S. Program and ETF trading. He has also been active on a number of industry committees and boards.


Mark Schlarbaum joined Palliser Bay Capital Management as a portfolio manager. Palliser Bay Capital Management, the institutional asset management division of Clark Capital Management Group, is based in Radnor, Pa. Before Palliser Bay, Schlarbaum was the director of equity trading at Conshohocken, Pa.-based equities manager Global Capital Management. There, he traded his specialty, small-cap stocks.


Two options trading executives were elected to the board of the International Securities Exchange. Michael Juneman, head of U.S. options exchanges at Citadel Derivatives Group, will represent ISE's primary market makers. He shares that position with Sean Flynn, a trader from Timber Hill. Slade Winchester, head of U.S. and international business development, technology and operations for Citigroup Derivatives Markets options market makers, will represent ISE's competitive market makers. He shares that position with Tim Brennan of Bank of America/Merrill Lynch.


Larry Acton joined UBS Securities Canada as head of Canadian cash equity trading. Acton was previously at GMP Capital Trust, a Toronto-based broker-dealer. He also worked at UBS between 2002 and 2007. At UBS, Acton will report to Rick Meslin, head of Canadian equities.


Abbe Rice joined Muriel Siebert & Co.'s capital markets group as a senior managing director and sales trader. Rice was previously at Bear Stearns & Co. where she held a similar position. She spent sixteen years at Bear Sterns and covered institutional accounts on listed, OTC and international stocks. She rose to the position of senior managing director in the institutional equity division.


Geoff Keith joined the block trading desk at Canadian Imperial Bank of Commerce in Toronto. Keith was previously head of equity trading at the Canadian arm of Barclays Global Investors. At CIBC, he reports to James Beattie, head of institutional equity trading.