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The 2017 Trading Tech 40: Mayur Kapani

No. 8 Mayur Kapani, Chief Technology Officer, Intercontinental Exchange

  • By Peter Vasiliev

8. Mayur Kapani
Chief Technology Officer
Intercontinental Exchange
Last year: 11

In 2006, when Mayur Kapani joined Intercontinental Exchange in Atlanta from the Philadelphia Stock Exchange, ICE operated a single trading platform. Today — more than three years after ICE completed its acquisition of NYSE Euronext — it consists of 11 exchanges, six clearinghouses, and a big and growing data business. Kapani took on global infrastructure responsibility in May 2016 when he was promoted from senior vice president of trading technology to chief technology officer, a title last held by Edwin Marcial, who left the company in October 2014. (No. 1 in 2014, Marcial is now advising and investing in start-ups.)

Before becoming CTO, Kapani headed teams responsible for ICE's futures and options exchanges, the Trade Vault data repository, ICE Benchmark Administration, and SuperDerivatives. The last is a data business that ICE acquired in late 2014 for $350 million; a year later it purchased Interactive Data Corp. for $5.2 billion. Data services revenue more than doubled in 2016, to $2 billion, or roughly one third of ICE's total revenue before subtracting transaction-based expenses. "High-quality, trusted data is more in demand than ever thanks to regulatory requirements for independent valuations, the standardization of products for electronic trading and clearing, increasing indexation and passive investments, fragmentation in the markets, and the need to trade with algorithms and quantitatively driven programs," Kapani, 48, observed in a recent interview on the ICE website. "That increased need for data is sparking a related need for technology that organizes data inputs, supports real-time market analysis, and delivers access and connectivity to global markets." ICE announced an agreement February 15 to acquire communications and connectivity services provider TMX Atrium from Toronto's TMX Group, and the business will become part of ICE Data Services and its Secure Financial Transaction Infrastructure.


The 2017 Trading Tech 40
1. Richard Prager
BlackRock
2. Chris Isaacson
Bats Global Markets
3. Bradley Peterson
Nasdaq
4. Brad Levy
MarkitSERV
5. Dan Keegan
Citi
6. Glenn Lesko
Bloomberg Tradebook
7. Bryan Durkin
CME Group
8. Mayur Kapani
Intercontinental Exchange
9. Mike Blum
KCG Holdings
10. Raj Mahajan
Goldman Sachs Group
11. Ronald DePoalo
Fidelity Institutional
12. Nick Themelis
MarketAxess Holdings
13. Jenny Knott
NEX Optimisation
14. Billy Hult
Tradeweb Markets
15. Rob Park
IEX Group
16. Bill Chow & Richard Leung
Hong Kong Exchanges and Clearing
17. John Mackay (Mack) Gill
MillenniumIT
18. Paul Hamill
Citadel Securities
19. Eric Noll
Convergex
20. Veronica Augustsson
Cinnober Financial Technology
21. Tyler Moeller & Joshua Walsky
Broadway Technology
22. Alasdair Haynes
Aquis Exchange
23. Gaurav Suri
Arcesium
24. Manoj Narang
Mana Partners
25. Michael Chin & Neill Penney
Thomson Reuters
26. Robert Sloan
S3 Partners
27. Anton Katz & Stephen Mock
AQR Capital Management
28. Donal Byrne
Corvil
29. Stu Taylor
Algomi
30. Alfred Eskandar
Portware
31. Steven Randich
Financial Industry Regulatory Authority
32. R. Cromwell Coulson
OTC Markets Group
33. Peter Maragos
Dash Financial
34. John Fawcett
Quantopian
35. Donald
Ross III
PDQ Enterprises
36. Jennifer Nayar
Vela Trading Technologies
37. Dan Raju
Tradier
38. Susan Estes
OpenDoor Trading
39. David Mercer
LMAX Exchange
40. Oki Matsumoto
Monex Group

Mayur Kapani

Chief Technology Officer

Intercontinental Exchange

Last year: 11

In 2006, when Mayur Kapani joined Intercontinental Exchange in Atlanta from the Philadelphia Stock Exchange, ICE operated a single trading platform. Today — more than three years after ICE completed its acquisition of NYSE Euronext — it consists of 11 exchanges, six clearinghouses, and a big and growing data business. Kapani took on global infrastructure responsibility in May 2016 when he was promoted from senior vice president of trading technology to chief technology officer, a title last held by Edwin Marcial, who left the company in October 2014. (No. 1 in 2014, Marcial is now advising and investing in start-ups.)

Before becoming CTO, Kapani headed teams responsible for ICE’s futures and options exchanges, the Trade Vault data repository, ICE Benchmark Administration, and SuperDerivatives. The last is a data business that ICE acquired in late 2014 for $350 million; a year later it purchased Interactive Data Corp. for $5.2 billion. Data services revenue more than doubled in 2016, to $2 billion, or roughly one third of ICE’s total revenue before subtracting transaction-based expenses. “High-quality, trusted data is more in demand than ever thanks to regulatory requirements for independent valuations, the standardization of products for electronic trading and clearing, increasing indexation and passive investments, fragmentation in the markets, and the need to trade with algorithms and quantitatively driven programs,” Kapani, 48, observed in a recent interview on the ICE website. “That increased need for data is sparking a related need for technology that organizes data inputs, supports real-time market analysis, and delivers access and connectivity to global markets.” ICE announced an agreement February 15 to acquire communications and connectivity services provider TMX Atrium from Toronto’s TMX Group, and the business will become part of ICE Data Services and its Secure Financial Transaction Infrastructure.

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