CODA Markets bolsters business development team with industry veteran
New York. August 11 2021: Following significant growth in trading volume and with several key initiatives slated for launch this year, CODA Markets, the leader in on-demand equity auctions, today announced the appointment of industry veteran Tony Barral to its team.
Barral joins CODA Markets as a Managing Director of Sales, with responsibility for client relationship management for CODA’s broker business, as well as sales and business development. He brings to CODA close to twenty-five years of institutional equities expertise.
Most recently, Barral was Head of Broker Dealer relationships at Citi, and prior that role, he spent more than a decade at Morgan Stanley where he led broker dealer sales for the Americas. His background in institutional financial markets also includes Direct Edge, NYFIX, Wachovia and Lehman Brothers.
According to CODA Markets CEO Don Ross, Tony’s appointment comes as part of the firm’s efforts to support a growing number of clients and participants.
“As the industry looks to us to deliver new innovations and mechanisms to source intraday liquidity, CODA is also focused on providing our clients and participants with the best possible support and service standards. Tony comes to CODA with an impeccable equity markets pedigree, and we are excited to welcome him to our team.”
“CODA is solely focused on building a more efficient marketplace for institutional trading,” said Barral. “The financial markets are shifting from an obsession with speed to a focus on convergence, where participants can all come together at one point in time, and CODA is leading the charge. I am excited to help Don and the entire team accomplish this goal.”
In the past twelve months, CODA Markets has successfully rolled out a number of new product enhancements designed to provide an even better client experience. This includes a latency upgrade to its CODA Micro product that enables it to offer a price improvement auction that runs in a single millisecond. CODA’s Alterative Trading System (ATS) volumes have also nearly doubled in the last calendar year.
About CODA Markets
CODA Markets, Inc. is the operator of an innovative on-demand auction-based alternative trading system that optimizes liquidity aggregation for all market participants. The CODA model consolidates a fragmented market by bringing buyers and sellers together at a single point in time to execute at a price determined by supply and demand, rather than speed of the fastest participant. CODA Markets, Inc. is a registered broker-dealer, member FINRA and SIPC, and wholly owned by PDQ Enterprises, LLC.