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The 2016 Trading Technology 40: Amar Kuchinad

< The 2016 Trading Technology 4037Amar Kuchinad Chief Executive OfficerElectronifiePNR

Like the founders of other trading platforms, Amar Kuchinad based his ideas for automation and efficiency on institutional trading experience — in his case with Credit Suisse and Goldman Sachs Group from 1996 to 2011. But before forming Electronifie in New York in 2014, Kuchinad spent more than a year as a senior policy adviser in the Securities and Exchange Commission’s Division of Trading and Markets. The experience sated “a desire to do public service,” he says, and fortified his faith in “private market solutions.” He saw what it was like to be on the receiving end of complaints that regulation is to blame for tight liquidity and other woes, particularly in fixed income, where e-trading start-ups have proliferated in recent years. Fully aware that many such ventures failed, Kuchinad and a team that included former Credit Suisse colleague and Electronifie CFO and CTO Ian McAllister spent a year in development and launched their platform into the corporate-bond marketplace in May 2015. By December traders at 75 asset managers and broker-dealers had been set up on Electronifie and had routed more than $36 billion in executable orders, making the firm one of a handful of viable options in an asset class long dominated by MarketAxess Holdings (see Nicholas Themelis, No. 13). “We don’t look at the corporate space as just what is traded electronically,” says Kuchinad, 41, noting that traditional voice brokerage has been far from fully displaced. As capital-constrained dealers retreat or consolidate, he sees room for “three, five, even ten electronic platforms” to win significant pieces of business. Electronifie’s differentiators, Kuchinad adds, are “cutting-edge programming” and a simple user interface that allow for seamless integration with client work flows: “The market structure needed to be disrupted, but this is still a business of people needing to transact. Our technology automates the low-value-add, high-touch work of intermediaries.”

 

 2016 Trading Technology 40Click below to view profiles
1. Raymond Tierney IIIBloomberg2. Richard PragerBlackRock3. Chris IsaacsonBATS Global Markets4. Jonathan RossKCG Holdings5. Bradley PetersonNasdaq
6. Brad LevyMarkit7. Dan KeeganCiti8. Ronald DePoaloFidelity Institutional9. Raj MahajanGoldman Sachs Group10. Ari StudnitzerCME Group
11. Mayur KapaniIntercontinental Exchange12. Gerald O’ConnellCBOE Holdings13. Nicholas ThemelisMarketAxess Holdings14. Gil MandelzisEBS BrokerTec (ICAP)15. Bill Chow and Richard LeungHong Kong Exchanges and Clearing
16. Rob ParkIEX Group17. Philip WeisbergThomson Reuters18. John Mackay (Mack) GillMillenniumIT19. Robert CornishInternational Securities Exchange20. Paul HamillCitadel Securities
21. Eric NollConvergex22. Tyler Moeller and Joshua WalskyBroadway Technology23. Rishi NangaliaREDI Holdings24. Veronica AugustssonCinnober Financial Technology25. Alasdair HaynesAquis Exchange
26. Manoj NarangMana Partners27. Gaurav SuriArcesium28. Robert SloanS3 Partners29. Anton Katz and Stephen MockAQR Capital Mgmt30. Stu TaylorAlgomi
31. D. Keith Ross Jr.PDQ Enterprises32. Donal ByrneCorvil33. Alfred EskandarPortware34. R. Cromwell CoulsonOTC Markets Group35. Masayuki HosakaRakuten
36. Peter Maragos and David KaratDash Financial37. Amar KuchinadElectronifie38. Jennifer NayarSR Labs39. Dave SnowdonMetamako40. Dan RajuTradier