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The 2015 Trading Technology 40: Jonathan Ross

#4 Jonathan Ross, Chief Technology Officer, KCG Holdings

4
Jonathan Ross
Chief Technology Officer
KCG Holdings

Despite its technological prowess, KCG Holdings hasn’t been immune to the declining trading volumes and low volatility that have challenged U.S. equity market makers. The Jersey City, New Jersey–based company — created by the July 2013 merger of high frequency trading pioneer Getco and executing brokerage Knight Capital Group — saw its third-quarter 2014 market-making revenue fall more than 30 percent year over year, to $166.6 million. The drop, however, was partly offset by growth in its algorithmic trading business. KCG added 50 new institutional clients during the quarter thanks to its Opportunistic algorithm, based on a Getco legacy product that incorporates “micro market structure signals from the proprietary trading side,” says chief technology officer Jonathan Ross. In November, KCG introduced Catch, a new algorithm designed to adapt to changing market dynamics and capture liquidity. “In its hunt for liquidity, the algo analyzes market data, tick by tick, to make very quick predictions for what it thinks the alpha is for the next second, half second or whatever it believes the appropriate amount of time is,” explains Ross, 46, a onetime video game programmer who was CTO of the Nasdaq Stock Market before joining Getco in 2007. He says KCG is expanding its presence in fixed-income markets, which includes its BondPoint corporate debt marketplace. “We’re extremely good at execution, and we don’t need balance sheet to do it,” adds Ross. “Firms that really care about execution are going to be looking to us more and more.”

See also Ross' profile in the 2013 Trading Technology 40.

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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