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The 2015 Tech 50: Seth Merrin

The Liquidnet Holdings CEO jumps to No. 23 on this year’s Tech 50 ranking.

Seth Merrin
Chief Executive Officer
Liquidnet Holdings

Fourteen years ago Seth Merrin, a serial entrepreneur who had gained renown for inventing trade order management systems in the 1980s, introduced Liquidnet, an even farther-reaching, technology-based breakthrough for the buy side. A peer-to-peer network for institutional equity trades, built to handle large blocks that were difficult to execute on exchanges, the trailblazing dark venue now spans 43 markets on five continents, and Merrin, 55, has set out to conquer another world: fixed income. “The corporate bond market is broken,” says the founder and CEO of New York–based Liquidnet Holdings. He believes that tight liquidity, bank capital constraints and inevitably rising interest rates will create “perfect storm” conditions that are ideal for Liquidnet’s brand of “electronification.” In March 2014 the company acquired Vega-Chi, a successful European bond-trading platform, as the foundation of Liquidnet Fixed Income, which is expected to launch this quarter, promising simple, anonymous and fast order matching — and potentially the kind of centralized, deep liquidity pool that the bond market lacks. Merrin looks to Liquidnet’s membership of 800 asset managers with a combined $14 trillion under management as the key to assembling the critical mass that will do for bonds what the institutional platform did for equities. Merrin envisions Liquidnet as a full-service broker-dealer, offering access to liquidity in any way a customer may want and, like a Global Positioning System, “not just telling them where to go but how best to get there.”

See the full story, “The 2015 Tech 50: Racers to the Edge.”

The 2015 Tech 50

1. Jeffrey Sprecher
Intercontinental Exchange
2. Catherine Bessant
Bank of America Corp.
3. Phupinder Gill
CME Group
4. Lance Uggla
5. Robert Goldstein
6. Shawn Edwards &
Vlad Kliatchko
7. R. Martin Chavez
Goldman Sachs Group
8. Deborah Hopkins
Citi Ventures
9. Stephen Neff
Fidelity Investments
10. Adena Friedman
Nasdaq OMX Group
11. David Craig
Thomson Reuters
12. Daniel Coleman
KCG Holdings
13. Michael Spencer
14. Michael Bodson
Depository Trust & Clearing Corp.
15. Charles Li
Hong Kong Exchanges and Clearing
16. Chris Concannon
BATS Global Markets
17. Christopher Perretta
State Street Corp.
18. Antoine Shagoury
London Stock Exchange Group
19. Kevin Rhein
Wells Fargo & Co.
20. Neil Katz
D.E. Shaw & Co.
21. Lee Olesky
Tradeweb Markets
22. Richard McVey
MarketAxess Holdings
23. Seth Merrin
Liquidnet Holdings
24. Robert Alexander
Capital One Financial Corp.
25. Frank Bisignano
First Data Corp.
26. John Marcante
Vanguard Group
27. Joseph Squeri
28. Lou Eccleston
TMX Group
29. Claude Honegger
Credit Suisse
30. Chris Corrado
31. David Gledhill
DBS Bank
32. John Bates
Software AG
33. Michael Cooper
BT Radianz
34. Gary Scholten
Principal Financial Group
35. Sunil Hirani
trueEX Group
36. Hauke Stars
Deutsche BÖrse
37. Brian Conlon
First Derivatives
38. Jim Minnick
39. Lars Seier Christensen & Kim Fournais
40. Tyler Kim
41. Jim McGuire
Charles Schwab Corp.
42. Steven O'Hanlon
43. Sebastián Ceria
44. Yasuki Okai
NRI Holdings America
45. Stephane Dubois
46. Mazy Dar
47. Brian Sentance
Xenomorph Software
48. Mas Nakachi
49. John Lehner
BNY Mellon Technology Solutions Group
50. Jock Percy

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