Many have computer science or programming backgrounds. Most occupy business-unit executive positions, often in the C-suite. They are responsible for the high-tech machinery of modern financial markets — engines running at speeds faster than the eye can see.

These are the leading system designers, managers and innovators spotlighted in Institutional Investor’s inaugural Trading Technology 30. They range from, at the top of the list, the technology executives of globe-spanning exchange operators — NYSE Euro­next’s Dominique Cerutti, CME Group’s Kevin Kometer and Nasdaq OMX Group’s Anna Ewing — to, at No. 30, Tom Sosnoff, an options technology pioneer running a new-media start-up.

Eleven of the 30 represent exchanges. Several others are from buy- and sell-side firms and other ventures that run bourselike alternative or over-the-counter markets or trading desks hooked closely into exchanges. Whether focused on equities, fixed income or derivatives, all have evolved into technology companies.

NYSE Euronext, for example, in addition to maintaining its own infrastructure, sells systems to other markets — a $500 million-­in-revenue business that Cerutti expects will reach $1.5 billion by 2015. At Singapore Exchange, a customer of Nasdaq OMX’s competing market technologies unit, the goal of CEO Magnus Böcker (No. 10) is to run the fastest bourse in the world, with transaction speeds well under 100 microseconds.

It is a constant “arms race” to keep up with ever-rising trade, quote and messaging volumes while staying abreast of technology advances as well as regulatory changes.

The Trading Tech 30 were selected by II editors and staff after considering nominations and other input from industry experts. The leadership criteria include career accomplishments and contributions made at both individual companies and to the industry at large; scope and complexity of executive responsibilities; and pure technological innovation.

Rank Name Title
Company
30  Tom Sosnoff

Tom Sosnoff

Chief Executive Officer
Tastytrade
29 Saro Jahani

Saro Jahani

Chief Information Officer
Direct Edge
28  Scott Ignall

Scott Ignall

Chief Technology Officer
Lightspeed Financial
27 Jaime Jofre

Jaime Jofre

Chief Technology Officer
Pragma Securities
26  Jorge Alegria

Jorge Alegria

Senior Vice President, Market Operations
BMV Group
25 Joshua Walsky

Joshua Walsky

Chief Technology Officer
Broadway Technology
24  Michael Liberman

Michael Liberman

Chief Operating Officer
BlueMountain Capital Management
23 Jerry Dobner

Jerry Dobner

Chief Technology Officer
GFI Group
22  Tony Weeresinghe

Tony Weeresinghe

Head of Global Development
London Stock Exchange
21 Tal Cohen

Tal Cohen

Chief Executive Officer
Chi-X Global Holdings
20  Richard McVey

Richard McVey

Chairman and Chief Executive Officer
MarketAxess Holdings
19 Ben Sylvester

Ben Sylvester

Head, U.S. Equity Trading Group
J.P. Morgan Asset Management
18  Jay Spencer

Jay Spencer

Chief Technology Officer
Tradeweb Markets
17 Mark Beeston

Mark Beeston

Chief Executive Officer, Posttrade Risk
ICAP
16  Daniel Friel

Daniel Friel

Chief Information Office
International Securities Exchange
15 Thomas Peterffy

Thomas Peterffy

Chairman, Chief Executive Officer and President
Interactive Brokers Group
14  Richard Prager

Richard Prager

Head of Global Trading
BlackRock
13 Nigel Faulkner

Nigel Faulkner

Chief Information Officer, Global Equities
Credit Suisse
12  Chris Isaacson

Chris Isaacson

Chief Operating Officer
BATS Global Markets
11 Gregory Tusar

Gregory Tusar

Americas Head of Electronic Trading
Goldman Sachs Group
10  Magnus Bocker

Magnus Bocker

Chief Executive Officer
Singapore Exchange
9 Chip Carver

Chip Carver

Chief Operating Officer
Markit Group
8  Brian Conroy

Brian Conroy

President
Fidelity Capital Markets
7 Gerald O'Connell

Gerald O'Connell

Chief Information Officer
Chicago Board Options Exchange
6  Raymond Tierney

Raymond Tierney

President and Chief Executive Officer
Bloomberg Tradebook
5 Michael Blum

Michael Blum

Head
Getco Execution Services
4  Edwin Marcial

Edwin Marcial

Chief Technology Officer
IntercontinentalExchange
3 Anna Ewing

Anna Ewing

Chief Information Officer
Nasdaq OMX Group
2  Kevin Kometer

Kevin Kometer

Chief Information Officer
CME Group
1 Dominique Cerutti

Dominique Cerutti

President and Deputy Chief Executive Officer
NYSE Euronext