This content is from: Home

The 2017 Trading Tech 40: Mayur Kapani

< Wall Street's Nerds: The World's Most Powerful Trading Executives8. Mayur KapaniChief Technology OfficerIntercontinental ExchangeLast 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 40Click below to view profiles
1. Richard PragerBlackRock2. Chris IsaacsonBats Global Markets3. Bradley PetersonNasdaq4. Brad LevyMarkitSERV5. Dan KeeganCiti
6. Glenn LeskoBloomberg Tradebook7. Bryan DurkinCME Group8. Mayur KapaniIntercontinental Exchange9. Mike BlumKCG Holdings10. Raj MahajanGoldman Sachs Group
11. Ronald DePoaloFidelity Institutional12. Nick ThemelisMarketAxess Holdings13. Jenny KnottNEX Optimisation14. Billy HultTradeweb Markets15. Rob ParkIEX Group
16. Bill Chow & Richard LeungHong Kong Exchanges and Clearing17. John Mackay (Mack) GillMillenniumIT18. Paul HamillCitadel Securities19. Eric NollConvergex20. Veronica AugustssonCinnober Financial Technology
21. Tyler Moeller & Joshua WalskyBroadway Technology22. Alasdair HaynesAquis Exchange23. Gaurav SuriArcesium24. Manoj NarangMana Partners25. Michael Chin & Neill PenneyThomson Reuters
26. Robert SloanS3 Partners27. Anton Katz & Stephen MockAQR Capital Management28. Donal ByrneCorvil29. Stu TaylorAlgomi30. Alfred EskandarPortware
31. Steven RandichFinancial Industry Regulatory Authority32. R. Cromwell CoulsonOTC Markets Group33. Peter MaragosDash Financial34. John FawcettQuantopian35. Donald
Ross III
PDQ Enterprises
36. Jennifer NayarVela Trading Technologies37. Dan RajuTradier38. Susan EstesOpenDoor Trading39. David MercerLMAX Exchange40. Oki MatsumotoMonex 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.