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The 2016 Trading Technology 40: Manoj Narang

< The 2016 Trading Technology 4026Manoj NarangChief Executive OfficerMana PartnersLast year: 29

After Tradeworx founder and former CEO Manoj Narang left the Red Bank, New Jersey–based high frequency trading firm in January 2015 following a disagreement with its board over strategic direction, he devoted a lot of time to something he’s enjoyed since he was a math and computer science major at Massachusetts Institute of Technology in the late 1980s: software development. “I wrote a lot of code this past year,” says Narang, 46, who designed all of Tradeworx’s hedge fund strategies during his 16 years at the firm. For his next act he has teamed up with former Goldman Sachs Group colleague John Holena to launch financial technology incubator and quantitative trading firm Mana Partners. Narang is building on his success at Tradeworx, which commercialized its matching engine and research infrastructure through its Thesys Technologies affiliate. “I would like to take that experiment, which went very well, and fully embrace the notion that you can take intellectual property and incubate it with multiple business models,” he says. New York–based Mana Partners will develop technology and trading strategies for its own use and then build products and services around them. Initially, the firm is focused on options-trading strategies, especially those with a positive exposure to volatility, which Narang expects to be elevated for extended periods in the next decade. “I feel that the options market is a prime area to better service traders in terms of bringing tools and products into the marketplace,” he says. Mana Partners will be developing analytical decision support tools for both the stock and options markets, including next-generation transaction cost analysis tools that will help equity investors estimate their market impact and better understand market microstructure.

 

 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