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The 2016 Trading Technology 40: Brad Levy

< The 2016 Trading Technology 406Brad LevyHead, Processing DivisionMarkitLast year: 8

Since Markit went public in 2014, the London-based financial data and services company has reported three neatly defined streams of revenue: information, processing and solutions. They added up to $1.1 billion in 2015, 7 percent higher than in 2014, yielding a healthy 45 percent profit margin. However, Markit, founded 13 years ago in a barn in suburban St. Albans, is not fully described by its accounting buckets. Fluidity and flexibility rule in an entrepreneurial style instilled by founder and CEO Lance Uggla; Brad Levy fit right in when he joined in 2012 after 17 years with Goldman Sachs Group. The 45-year-old is currently head of processing, the division (2015 revenue: $256 million) anchored by over-the-counter derivatives processor MarkitSERV, of which he is CEO. But he wears other hats. In October he took charge of WSO — a unit serving the syndicated loan market, known as Wall Street Office when it was acquired in 2008 — that nominally resides in the solutions division. “The world is looking to make the loan market more efficient, and we are well positioned,” Levy says. After the WSO transfer and other moves, including the 2015 purchase of foreign exchange processor DealHub, Levy oversees some 1,000 of Markit’s 4,000 employees and 34 percent of revenue, while extending the firm’s asset-class coverage, front-to-back-office reach and buy- and sell-side penetration. He is also Markit’s point person on messaging collaboration — Markit sold its chat platform to Symphony Communication Services in 2014, and Levy is a Symphony Foundation director. Add to those responsibilities cloud and open-source initiatives and the blockchain. “There are a dozen of us on what we call the chain gang,” he says. “We are talking to all providers of blockchain technology.” Anticipating that it will be a “net beneficiary” of distributed ledgers, Markit has gone into “execution mode” with proofs of concept, Levy says: “It can help us in a few of our segments and may be a seismic game changer five to ten years out.”

 

 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