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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November 10, 2009

People On The Move

By Editorial Staff

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  • People On The Move

Brett Mock was elected as 2010 chairman of the Security Traders Association. Mock is senior sales trader at BTIG in San Francisco. He has been serving as STA vice chairman as well as co-chairman of the group's trading issues committee.

"Brett has been very active in industry issues," said Peter Driscoll, the immediate past chairman of STA.

Mock's career began some 15 years ago at Spear, Leeds & Kellogg. He traded Nasdaq securities for Spear's Troster Singer subsidiary. Later he worked as a Nasdaq trader for Montgomery Securities. Afterward, he moved up to senior Nasdaq market maker, and after that, senior sales trader. In 2003, he joined Wachovia Capital Markets. There, he was director of capital markers for equity trading.

 


Baruch College finance professor Robert A. Schwartz received the first Award for Excellence from the World Federation of Exchanges last month. Schwartz, considered a pioneer in the study of market structure, won the award for his work on how dark liquidity pools and fragmentation affect market quality.

The veteran academic is the author and editor of numerous books and journal articles. The World Federation of Exchanges, based in Paris, is the trade association of more than 50 publicly regulated stock, futures and options exchanges.

 


Wade McGee joined Cheevers & Co. as an institutional sales trader. McGee, a 22-year veteran who joined from Jefferies & Co., will be covering accounts for both equities and fixed income. He reports to Kathy Cheevers, the firm's chief executive.

 


Jeff Alexander, CFA, joins S.J. Levinson & Sons in Purchase, N.Y., as a managing director and product specialist in the firm's quantitative research and trading group. Alexander previously spent three years at Bloomberg, where he ran the firm's equity trading analytics business. There, he oversaw the development of trade-cost analysis and indication-of-interest products. Alexander reports to Matthew Celebuski, a former Bear Stearns executive who runs the firm's quant group.

 


Val Guilford joins CastleOak Securities as a senior managing director and head of equity sales and trading in New York. Guilford, with more than 15 years experience, previously served as president and head global trader at Magna Securities Corp. CastleOak is a boutique investment bank and trades both equities and fixed income products.

 


The Securities and Exchange Commission named Brian Bussey associate director for trading practices and processing in the Division of Trading and Markets. The trading practices area focuses on short selling and market manipulation. Bussey previously served as assistant chief counsel in the Division of Trading and Markets and as counsel to former SEC chairmen William Donaldson and Harvey Pitt.

 


Dusti Smith has joined Pulse Trading in Dallas as a director in sales and trading. Smith, a seven-year veteran in electronic trading, will be primarily responsible for selling BlockCross ATS, an independently operated block crossing system owned by Pulse. She previously spent three years in New York as a director at ITG. There, she sold all of the firm's products. Smith reports to Wally Sullivan, a managing partner of BlockCross.