The Security Traders Association is looking to launch a Latin American affiliate of the U.S.-based trade group. Under the direction of its Florida affiliate, the STA has formed a launch committee comprised of individuals based in Florida and Latin America. At this time, the affiliate exists only on paper, but STA officials are optimistic that the group will soon establish offices in in Mexico and Brasil.
At the present time, STA has no plans at this time to start this new branch in Latin America, Jim Toes, chief executive and president of the Security Traders Association told Traders Magazine in an interview. However, should the initiative take root and grow, initial chapters are likely to be headquartered in Brasil and Mexico, he added.
“We feel there is broad-based demand out there for this affiliate, and direct demand in one particular area – Florida,” Toes said. “This is about seeing what the demand level actually is.”
Behind the move is a desire by both the buy- and sell-side STA membership to trade in Latin America, Toes said. The new affiliate would be responsible for providing education and a central networking hub for both U.S. – based and LatAm -based trading professionals. For persons or firms who work and reside in Latin America who want to become members of the STA, Toes said, they will be directed to the Florida affiliate, STA Florida. Individuals within the U.S. who are associated with the LatAm markets will continue to seek membership at their local affiliate.
In order to drum up interest in the LatAm initiative, STA and STA Florida will jointly be hosting a cocktail party Sunday, June 23, in New York City at Soaked at the Mondrian Soho Hotel at 5 pm. Toes will be in attendance at the event to brief attendees and answer questions on the initiative.
STA currently has affiliates in Canada with offices in Montreal, Vancouver and Toronto. STA had an affiliate in Europe-Paris to be exact-but that shut down due to lack of interest.
The new LatAm chapter will begin its life under the governance and leadership of the Florida Security Traders Association, Janice Morgan Hilsman, president of the Florida STA told Traders Magazine in an interview. The Miami base, will allow U.S.-based brokers to interact with their counterparts in Brazil and elsewhere in Latin America, to learn how their markets work. And to establish relationships, for when they need trades handled in those countries. And vice versa.
“We’re spearheading this initiative for a LatAm chapter,” Morgan Hilsman said. “We were asked by STA National asked to launch the affiliate and we went and formed a launch committee.”
Once the branches gain enough membership and support, they will be self-sustaining entities and eventually fall under a STA LatAm division. But for now, STA Florida is at the vanguard of the initiative, Toes said, and those wanting to trade in Latin America will be directed to the Florida office.
The LatAm Committee is captained by STA Governor, Peter Stark and Chaired by Alan Gandelman, chief executive of ATS Brasil, a recently launched exchange owned by NYSE Euronext and Americas Trading Group, will work together with STA Florida in assisting in the overall build-out of a LatAm strategy. Victor Rodriquez will serve on the STA National Board as advisor to LatAm.
The STA Florida LatAm Launch committee is composed of:
Alan Gandelman, CEO of ATS Brasil since December 12, 2012, Brazil. Gandelman is also the STA LatAm Affiliate launch Committee Chairman and will be head of the STA LatAm affiliate once launched.
Alice Botis, director of new Sales, Latin American Business Development, Fidessa, New York.
Alejandro Rebelo, senior vice president for LatAm sales & trading, INTL FCStone Securities Inc., Miami, Fl. He will head the Brazil office which will be likely located in San Paolo, where equity trading is centered.
Tony Valera, president and head trader, First American Capital and Trading, Boca Raton, Fl.
William Cooper, senior equity trader, State Street Global Markets, Boston, Mass.
Jake Rappaport, STA Florida board member, managing director and head of European and LatAm Trading, INTL FCStone Securities Inc., Winter Park, Fl.
S. Peter Stark, liaison to STA National.
Daniel Jose Somuano, managing director at Banco Interacciones, a subsidiary of Mexican holding company Grupo Financiero Interacciones, will head the Mexico STA effort. He is charged with setting up an STA office in Mexico City.
