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The 2015 Trading Technology 40: Raymond Tierney III

#3 Raymond Tierney III, President and Chief Executive Officer, Bloomberg Tradebook

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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.

The 2015 Trading Technology 40

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


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