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The 2016 Tech 50: Lou Eccleston

TMX Group’s CEO moves up to No. 27 from No. 28 on the Tech 50 ranking.

< The 2016 Tech 5027Lou EcclestonChief Executive Officer TMX GroupLast year: 28

Canada has become an attractive and competitive destination for financial market operators. The March 2015 launch of Aequitas NEO Exchange and Nasdaq’s December acquisition of Chi-X Canada were shots across the bow of long-established TMX Group and its flagship Toronto Stock Exchange. Twenty months into his run as TMX’s CEO, Lou Eccleston believes the incumbent has what it takes to beat back the newcomers. The former Bloomberg, Thomson Financial and McGraw Hill Financial executive regards TMX as “a Canadian institution with a global model.” He adds, “Global players come to us,” noting international participation in such TMX entities as the Natural Gas Exchange and the TSX Venture Exchange, which for start-ups has been an effective springboard to more-senior exchanges. In character with his 2010–’14 tenure as president of McGraw Hill’s S&P Capital IQ, where he built an in-house innovation hub, Eccleston, 59, is steering his company on a decidedly digital and disruptive course. TMX is “a technology-driven solutions provider that happens to operate markets,” he asserts. A year ago, soon after a strategic review that was one of his first actions, Eccleston opened the eXplore TMX Innovation Lab, which has a mission of “leveraging emerging and in-house technology and intellectual capital to create products and services that will provide competitive advantages to clients in Canada, across North America and around the world.” The lab is but one entry in a paper titled “The TMX Innovation Economy Partnership,” which catalogues dozens of internal and external technology initiatives, including support of the Canada-wide Accelerate Finance ecosystem and sponsorship of what is billed as “the world’s largest blockchain trade show,” debuting in September in Toronto. Two 2016 hires tell the tale of what Eccleston says is TMX’s “foundation in analytical-insight and intellectual-property businesses”: Anthony Di Iorio, a leader in Canada’s Bitcoin and blockchain community, as chief digital officer, and Tom Wadden, a former TD Bank technologist, as head of data science and analytics in the TMX Insights unit.

Visit The 2016 Tech 50: Making Financial Services Faster, Cheaper, Bigger for more.


 The 2016 Tech 50 Click below to view profiles
1. Catherine
Bessant
Bank of America Corp.2. Jeffrey SprecherIntercontinental Exchange3. Lance UgglaMarkit4. Phupinder GillCME Group5. Shawn Edwards and Vlad KliatchkoBloomberg6. R. Martin ChavezGoldman Sachs Group
7. Robert GoldsteinBlackRock8. Adena FriedmanNasdaq9. Deborah HopkinsCiti Ventures10. Daniel ColemanKCG Holdings11. Stephen NeffFidelity Investments12. David CraigThomson Reuters
13. Michael SpencerICAP14. Michael BodsonDepository Trust & Clearing Corp. 15. Charles LiHong Kong Exchanges and Clearing16. Chris ConcannonBATS Global Markets17. Blythe MastersDigital Asset Holdings18. David RutterR3CEV
19. Neil KatzD.E. Shaw & Co.20. Lee OleskyTradeweb Markets21. Richard McVeyMarketAxess Holdings22. Seth MerrinLiquidnet Holdings23. Robert AlexanderCapital One Financial Corp.24. Brad KatsuyamaIEX Group
25. Antoine ShagouryState Street Corp.26. David GledhillDBS Bank27. Lou EcclestonTMX Group28. Andreas PreussDeutsche BÖrse29. Dan SchulmanPayPal Holdings30. Scott DillonWells Fargo & Co.
31. Mike ChinnS&P Global Market Intelligence32. Craig DonohueOptions Clearing Corp.33. Gary NorcrossFidelity National Information Services34. Steven O'HanlonNumerix35. Sebastián CeriaAxioma36. Michael CooperBT Radianz
37. Tyler KimMaplesFS38. Neal PawarAQR Capital Management39. David HardingWinton Capital Management40. Chris CorradoLondon Stock Exchange Group41. Brian ConlonFirst Derivatives42. Jim MinnickeVestment
43. Stephane DuboisXignite44. Mazy DarOpenFin45. Yasuki OkaiNRI Holdings America46. Kim FournaisSaxo Bank47. Jock PercyPerseus48. Robert SchifelliteBroadridge Financial Solutions
49. Brian SentanceXenomorph Software50. Pieter van der DoesAdyen