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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.

  • By Peter Vasiliev

27
Lou Eccleston
Chief Executive Officer
TMX Group

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
1. Catherine
Bessant
Bank of America Corp.
2. Jeffrey Sprecher
Intercontinental Exchange
3. Lance Uggla
Markit
4. Phupinder Gill
CME Group
5. Shawn Edwards and Vlad Kliatchko
Bloomberg
6. R. Martin Chavez
Goldman Sachs Group
7. Robert Goldstein
BlackRock
8. Adena Friedman
Nasdaq
9. Deborah Hopkins
Citi Ventures
10. Daniel Coleman
KCG Holdings
11. Stephen Neff
Fidelity Investments
12. David Craig
Thomson Reuters
13. Michael Spencer
ICAP
14. Michael Bodson
Depository Trust & Clearing Corp.
15. Charles Li
Hong Kong Exchanges and Clearing
16. Chris Concannon
BATS Global Markets
17. Blythe Masters
Digital Asset Holdings
18. David Rutter
R3CEV
19. Neil Katz
D.E. Shaw & Co.
20. Lee Olesky
Tradeweb Markets
21. Richard McVey
MarketAxess Holdings
22. Seth Merrin
Liquidnet Holdings
23. Robert Alexander
Capital One Financial Corp.
24. Brad Katsuyama
IEX Group
25. Antoine Shagoury
State Street Corp.
26. David Gledhill
DBS Bank
27. Lou Eccleston
TMX Group
28. Andreas Preuss
Deutsche BÖrse
29. Dan Schulman
PayPal Holdings
30. Scott Dillon
Wells Fargo & Co.
31. Mike Chinn
S&P Global Market Intelligence
32. Craig Donohue
Options Clearing Corp.
33. Gary Norcross
Fidelity National Information Services
34. Steven O'Hanlon
Numerix
35. Sebastián Ceria
Axioma
36. Michael Cooper
BT Radianz
37. Tyler Kim
MaplesFS
38. Neal Pawar
AQR Capital Management
39. David Harding
Winton Capital Management
40. Chris Corrado
London Stock Exchange Group
41. Brian Conlon
First Derivatives
42. Jim Minnick
eVestment
43. Stephane Dubois
Xignite
44. Mazy Dar
OpenFin
45. Yasuki Okai
NRI Holdings America
46. Kim Fournais
Saxo Bank
47. Jock Percy
Perseus
48. Robert Schifellite
Broadridge Financial Solutions
49. Brian Sentance
Xenomorph Software
50. Pieter van der Does
Adyen

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