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The 2016 Trading Technology 40: Manoj Narang

No. 26 Manoj Narang, Chief Executive Officer, Mana Partners

Manoj Narang
Chief Executive Officer
Mana Partners
Last 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 40

1. Raymond Tierney III
2. Richard Prager
3. Chris Isaacson
BATS Global Markets
4. Jonathan Ross
KCG Holdings
5. Bradley Peterson
6. Brad Levy
7. Dan Keegan
8. Ronald DePoalo
Fidelity Institutional
9. Raj Mahajan
Goldman Sachs Group
10. Ari Studnitzer
CME Group
11. Mayur Kapani
Intercontinental Exchange
12. Gerald O’Connell
CBOE Holdings
13. Nicholas Themelis
MarketAxess Holdings
14. Gil Mandelzis
EBS BrokerTec (ICAP)
15. Bill Chow and Richard Leung
Hong Kong Exchanges and Clearing
16. Rob Park
IEX Group
17. Philip Weisberg
Thomson Reuters
18. John Mackay (Mack) Gill
19. Robert Cornish
International Securities Exchange
20. Paul Hamill
Citadel Securities
21. Eric Noll
22. Tyler Moeller and Joshua Walsky
Broadway Technology
23. Rishi Nangalia
REDI Holdings
24. Veronica Augustsson
Cinnober Financial Technology
25. Alasdair Haynes
Aquis Exchange
26. Manoj Narang
Mana Partners
27. Gaurav Suri
28. Robert Sloan
S3 Partners
29. Anton Katz and Stephen Mock
AQR Capital Mgmt
30. Stu Taylor
31. D. Keith Ross Jr.
PDQ Enterprises
32. Donal Byrne
33. Alfred Eskandar
34. R. Cromwell Coulson
OTC Markets Group
35. Masayuki Hosaka
36. Peter Maragos and David Karat
Dash Financial
37. Amar Kuchinad
38. Jennifer Nayar
SR Labs
39. Dave Snowdon
40. Dan Raju

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