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The 2017 Trading Tech 40: Billy Hult

  • By Peter Vasiliev

14. Billy Hult
President
Tradeweb Markets
PNR

It is essential to keep up with the accelerating pace of technological change in financial markets — but, notes Billy Hult, patience is also a virtue because it can take time for cycles to turn favorable. He says that his job is to put Tradeweb Markets, a pioneering fixed-income trading platform operator that has diversified with derivatives and exchange-traded funds, in a position to succeed as market conditions evolve, and 2016 turned out to be a big year for core products like interest rate swaps and mortgage-backed securities. The flurry of activity following the U.S. presidential election had Tradeweb running on all cylinders. "We were beneficiaries of a changing market environment and were positioned well for the conditions postelection," says Hult, 47, who joined New York–based Tradeweb in 2000 from Société Générale and has been its president since 2008.

On November 9, Tradeweb's volume of U.S. Treasury securities was almost double its 60-day average and 59 percent higher than on June 27 after the U.K. Brexit vote. November's $7.9 trillion total for 20-plus products across all Tradeweb platforms was a post–financial crisis record for the company, which launched its first marketplace, for U.S. Treasuries, in 1998 and is currently majority-owned by Thomson Reuters. November saw year-over-year volume increases of 153 percent in credit derivatives, 87 percent in rates derivatives, and 73 percent in cash credit. The last category includes corporate bonds, a business that Tradeweb entered in 2014. "We built a competitive platform and are best positioned to challenge incumbent offerings with more comprehensive trading solutions," Hult says. "We have been patient and are making significant progress."


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

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