Veteran-Owned Firm Enlists Street
Traders Magazine, May 2012
Atwell himself is no stranger to the business. He joined the firm last summer from Stuart Frankel & Co.; he ran that firm's West Coast trading office. Prior to that, the 18-year trading veteran was a partner and head of global equities at Nicholas Investment Partners and head of trading at American Express Asset Management. He was also a partner and head of global equity trading at Nicholas Applegate Capital Management and head of over-the-counter trading at AIM Investments.
There are several ways to execute trades with Academy. It offers algorithms that it white labels. It declined to disclose the provider. There's also the traditional routing of orders via FIX or over the phone. Academy clears through Wedbush Securities.
Chance Mims
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The firm also offers third-party research from Washington, D.C.-based Opportunities Development Group, a veteran-run consultancy. It also offers commission recapture and sharing programs.
In California, where Academy is domiciled, legislation promotes the hiring of veterans and the use of SDVOBs through incentives. California also directs 3 percent of all state business contracts to disabled veteran-owned firms. In addition to providing best execution and research to its clients, Academy hopes to capitalize on its SDVOB status, said its founder, chairman and chief executive Chance Mims.
"We are looking to hire more and are actively recruiting post-9/11 veterans," Mims said, noting the firm's expansion. "Over the last few weeks, we had two more come on board."
Mims served as a naval officer from May 1997 to October 2001, on board the U.S.S. Sentry and U.S.S. John Paul Jones. The latter, a guided missile destroyer, was involved in enforcing U.N. sanctions against Iraq and taking part in the initial strikes into Afghanistan during Operation Enduring Freedom.
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