This content is from: Research
The 2015 Trading Technology 40: Raymond Tierney III
#3 Raymond Tierney III, President and Chief Executive Officer, Bloomberg Tradebook
Although the much-anticipated extension of automated trading into instruments beyond equities remains only partly realized, to Raymond Tierney III of Bloomberg Tradebook, “It’s real and it’s happening now.” Much of Tierney’s focus over the past 12 months has been on preparing the New York–based Bloomberg agency brokerage, which serves more than 1,000 clients, for cross-asset e-trading. Last July, Bloomberg LP, the parent of Tradebook, acquired RTS Realtime Systems, a provider of low-latency connectivity and trading tools for equities, fixed income, futures, options and foreign exchange. “Before this, speed and capacity were not the first reasons someone would call Bloomberg Tradebook,” says Tierney, 55,who became CEO of Tradebook in 2010 after 16 years with Morgan Stanley. “As the rapid electronification of markets continues, it makes ultralow latency and connectivity across asset classes a top priority.” With many firms capital-constrained and migrating away from principal trading and toward an agency model, they will “need electronic offerings to build scale and serve global clients,” Tierney observes. In October, Tradebook launched an RFQ (request for quote) service for exchange-traded funds, covering both liquid and thinly traded products. “ETFs account for 17 percent of actual trading volume in the U.S.,” Tierney notes. “There’s a real need for something more than an algo to affect this type of trading.” Tradebook volume grew 5 percent in 2014, with nondollar business rising 26 percent. Tierney sees “a thirst for global products — and it’s cross-asset-class. We sit at the epicenter of that.”
See also Tierney's profile in the 2013 Trading Technology 40 and the 2012 Trading Technology 30.
1  | 2  | 3  | 4  | 5  |
| Kevin Kometer CME Group | Richard Prager BlackRock | Raymond Tierney III Bloomberg Tradebook | Jonathan Ross KCG Holdings | Charles Vice Intercontinental Exchange |
6  | 7  | 8  | 9  | 10  |
| Chris Isaacson BATS Global Markets | Bradley Peterson Nasdaq OMX Group | Brad Levy MarkitSERV | Dan Keegan Citi | Ronald DePoalo Fidelity Institutional |
11  | 12  | 13  | 14  | 15  |
| Gerard Beatty Goldman Sachs Group | Gerald O'Connell CBOE Holdings | Brenda Hoffman TMX Group | Billy Hult Tradeweb Markets | Nicholas Themelis MarketAxess Holdings |
16  | 17  | 18  | 19  | 20  |
| Bina Kalola Bank of America Merrill Lynch | Gil Mandelzis EBS-BrokerTec (ICAP) | Steven Randich Financial Industry Regulatory Authority | Jerry Dobner GFI Group | Michael Liberman BlueMountain Capital Management |
21  | 22  | 23  | 24  | 25  |
| Bill Chow and Richard Leung Hong Kong Exchanges and Clearing | Jamie Selway Investment Technology Group | Brad Katsuyama IEX Group | John Mackay (Mack) Gill MillenniumIT | Jamil Nazarali Citadel Execution Services |
26  | 27  | 28  | 29  | 30  |
| Robert Cornish International Securities Exchange | Tyler Moeller andJoshua Walksy Broadway Technology | Rishi Nangalia REDI Holdings | Manoj Narang Tradeworx, Thesys Technologies | Oki Matsumoto Monex Group |
31  | 32  | 33  | 34  | 35  |
| Alasdair Haynes Aquis Exchange | Veronica Augustsson Cinnober Financial Technology | Stu Taylor Algomi | Luís Otávio Saliba Furtado BM&FBovespa | Tal Cohen Chi-X Global Holdings |
36  | 37  | 38  | 39  | 40  |
| Donal Byrne Corvil | R. Cromwell Coulson OTC Markets Group | Alfred Eskandar Portware | Richard Korhammer SR Labs | Hazem Dawani OptionsCity Software |