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The 2016 Trading Technology 40: Anton Katz and Stephen Mock

< The 2016 Trading Technology 40
29Anton Katz and Stephen MockHead of Trading Systems Technology and Head of Trade Execution TechnologyAQR Capital Management PNR

Information technology doesn’t just serve or support the portfolio strategies of AQR Capital Management. It’s integral to the quantitative investment firm’s processes and is even part of the performance equation reported to clients. “AQR doesn’t have silos like many quantitative firms do,” says Stephen Mock, who as head of trade execution technology manages algorithmic trading systems. IT and investing ideas are routinely linked in internal conversations. “We are very transparent with investors about our technology — it is part of a holistic view of how they are benefiting,” explains Anton Katz, head of trading systems technology. Although Greenwich, Connecticut–based AQR, which was formed in 1998 and has $141 billion under management, may have been a trendsetter in its embrace of IT, Katz and Mock represent a new generation of approaches that could radically redefine the alternative-investment technology niche. Like any financial institution, AQR weighs “build versus buy” decisions, and old proprietary biases are giving way to openness and collaboration. Katz, 35, who joined AQR in 2015 after six years with Broadway Technology (see Tyler Moeller and Joshua Walsky, No. 22), says “a lot of proprietary-built software” goes into the trade-order management platforms that he oversees. “But the vendor space is interesting, and we look at what we may be able to do in a collaborative way.” Mock, 36, who has a low-latency trading background and left Macquarie Capital for AQR in 2012, says the firm keeps on the cutting edge with a “culture of experimentation that is mindful of the marketplace.” Katz’s vendor experience complements Mock’s in investment management (Magnetar Capital, BMO Capital Markets and BNP Paribas’ CooperNeff Advisors) as they scan a five- to ten-year strategic horizon. Trends like cloud and virtualization “cannot be ignored,” Katz says. “In a few years it may not make sense to run your own data center.”

 

 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