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Trading Technology 30: Masters of Market Magic

Introducing the Trading Technology 30, Institutional Investor's ranking of the leading system architects and innovators who keep markets humming, accurately and dependably, at breakneck speeds.

Many have computer science or programming backgrounds. Most occupy business-unit executive positions, often in the C-suite. They are responsible for the high-tech machinery of modern financial markets — engines running at speeds faster than the eye can see.

These are the leading system designers, managers and innovators spotlighted in Institutional Investor’s inaugural Trading Technology 30. They range from, at the top of the list, the technology executives of globe-spanning exchange operators — NYSE Euro­next’s Dominique Cerutti, CME Group’s Kevin Kometer and Nasdaq OMX Group’s Anna Ewing — to, at No. 30, Tom Sosnoff, an options technology pioneer running a new-media start-up.

Eleven of the 30 represent exchanges. Several others are from buy- and sell-side firms and other ventures that run bourselike alternative or over-the-counter markets or trading desks hooked closely into exchanges. Whether focused on equities, fixed income or derivatives, all have evolved into technology companies.

NYSE Euronext, for example, in addition to maintaining its own infrastructure, sells systems to other markets — a $500 million-­in-revenue business that Cerutti expects will reach $1.5 billion by 2015. At Singapore Exchange, a customer of Nasdaq OMX’s competing market technologies unit, the goal of CEO Magnus Böcker (No. 10) is to run the fastest bourse in the world, with transaction speeds well under 100 microseconds.

It is a constant “arms race” to keep up with ever-rising trade, quote and messaging volumes while staying abreast of technology advances as well as regulatory changes.

The Trading Tech 30 were selected by II editors and staff after considering nominations and other input from industry experts. The leadership criteria include career accomplishments and contributions made at both individual companies and to the industry at large; scope and complexity of executive responsibilities; and pure technological innovation.

Rank Name Title
30  Tom Sosnoff

Tom Sosnoff

Chief Executive Officer
Tastytrade 29 Saro Jahani

Saro Jahani

Chief Information Officer
Direct Edge 28  Scott Ignall

Scott Ignall

Chief Technology Officer
Lightspeed Financial 27 Jaime Jofre

Jaime Jofre

Chief Technology Officer
Pragma Securities 26  Jorge Alegria

Jorge Alegria

Senior Vice President, Market Operations
BMV Group 25 Joshua Walsky

Joshua Walsky

Chief Technology Officer
Broadway Technology 24  Michael Liberman

Michael Liberman

Chief Operating Officer
BlueMountain Capital Management 23 Jerry Dobner

Jerry Dobner

Chief Technology Officer
GFI Group 22  Tony Weeresinghe

Tony Weeresinghe

Head of Global Development
London Stock Exchange 21 Tal Cohen

Tal Cohen

Chief Executive Officer
Chi-X Global Holdings 20  Richard McVey

Richard McVey

Chairman and Chief Executive Officer
MarketAxess Holdings 19 Ben Sylvester

Ben Sylvester

Head, U.S. Equity Trading Group
J.P. Morgan Asset Management 18  Jay Spencer

Jay Spencer

Chief Technology Officer
Tradeweb Markets 17 Mark Beeston

Mark Beeston

Chief Executive Officer, Posttrade Risk
ICAP 16  Daniel Friel

Daniel Friel

Chief Information Office
International Securities Exchange 15 Thomas Peterffy

Thomas Peterffy

Chairman, Chief Executive Officer and President
Interactive Brokers Group 14  Richard Prager

Richard Prager

Head of Global Trading
BlackRock 13 Nigel Faulkner

Nigel Faulkner

Chief Information Officer, Global Equities
Credit Suisse 12  Chris Isaacson

Chris Isaacson

Chief Operating Officer
BATS Global Markets 11 Gregory Tusar

Gregory Tusar

Americas Head of Electronic Trading
Goldman Sachs Group 10  Magnus Bocker

Magnus Bocker

Chief Executive Officer
Singapore Exchange 9 Chip Carver

Chip Carver

Chief Operating Officer
Markit Group 8  Brian Conroy

Brian Conroy

Fidelity Capital Markets 7 Gerald O'Connell

Gerald O'Connell

Chief Information Officer
Chicago Board Options Exchange 6  Raymond Tierney

Raymond Tierney

President and Chief Executive Officer
Bloomberg Tradebook 5 Michael Blum

Michael Blum

Getco Execution Services 4  Edwin Marcial

Edwin Marcial

Chief Technology Officer
IntercontinentalExchange 3 Anna Ewing

Anna Ewing

Chief Information Officer
Nasdaq OMX Group 2  Kevin Kometer

Kevin Kometer

Chief Information Officer
CME Group 1 Dominique Cerutti

Dominique Cerutti

President and Deputy Chief Executive Officer
NYSE Euronext

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