Doug Rivelli has joined hedge fund Proteus Global Partners as its chief executive officer.
Proteus describes itself on LinkedIn as a multi-catalyst long/short event fund.
Prior to this, Rivelli was chief executive at Algorithmic Trading Management – ATM – for two years. ATM, formed in 2009, is a global and multi-asset class electronic trading company and part of Cowen Group. Cowen Group purchased ATM in 2012.
ATM operated as a separate financial technology business with Rivelli, co-head of quantitative trading services at Cowen, serving as chief executive officer of the unit and responsible for overseeing its business. The firm initially focused its sales effort providing small and mid-size brokers algo trading solutions they could white label to clients. ATM later expanded its offering to the buyside.
Before ATM, Rivelli spent the last three years at Pragma Securities as its chief executive officer. Under Rivelli, Pragma stepped up its algorithmic offerings as well as opened its own ATS is called Onecross. The venue offers an opening cross (market on open) and a closing cross (market on close).
Rivelli also spent nine years at institutional broker Weeden & Co. as a managing director. Rivelli ran Weeden’s electronic trading desk there and he oversaw a move of the electronic trading group to Pragma from Weeden in 2009. Weeden is an investor in Pragma.
