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The 2016 Tech 50: Daniel Coleman

The KCG Holdings CEO jumpes to No. 10 on this year’s Tech 50 ranking.

< The 2016 Tech 5010Daniel ColemanChief Executive OfficerKCG HoldingsLast year: 12

KCG Holdings chief executive Daniel Coleman is constantly on the lookout for ways to leverage technology. Since July 2013, when Jersey City, New Jersey–based KCG was formed through the merger of Chicago-based high frequency trading pioneer Getco (where he had been CEO) and troubled broker-dealer Knight Capital Group, Coleman has been selling off his company’s less tech-focused operations. KCG announced in February that Citadel Securities was buying its New York Stock Exchange designated market-making (DMM) business. “The sale of the DMM was the final step to where we are very much a technology-driven firm,” says Coleman, who turns 52 in August and worked at UBS and predecessor firms for more than two decades before joining Getco in 2010. “We still have some businesses that require over-the-phone conversations with clients, but even with those most of the order flow comes in via technology.” During the past year Coleman has been hoarding chief technology officers, starting with the hiring last summer of REDI Holdings CTO Josh Schubkegel. In December he brought back Michael Blum, who headed Getco Execution Services from 2009 to 2012 before leaving to become CTO of Chicago-based hedge fund firm Teza Technologies. In March, Coleman recruited Brian Freyburger, who was CTO of high frequency trading firm Tower Research Capital. Schubkegel and Blum are both working on client-facing technologies; Freyburger is rebuilding KCG’s core market-making system. “We’ve given Brian and his team the luxury of building from scratch something that will be a next-generation trading system,” says Coleman, an Alabama native who commutes weekly from Birmingham to KCG’s offices in New York and Jersey City. “To some extent, Mike is doing the same thing on the client-facing side.” KCG, which is listed on the NYSE, has profited from this year’s increased market volatility. In the first quarter its U.S. equity market-making revenue grew 22 percent year over year and its BondPoint trading venue set a quarterly record, with average daily fixed-income par value increasing 32 percent.

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 The 2016 Tech 50 Click below to view profiles
1. Catherine
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

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