The 2017 Trading Tech 40: R. Cromwell Coulson

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< Wall Street’s Nerds: The World’s Most Powerful Trading Executives

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32. R. Cromwell Coulson
President and Chief Executive Officer
OTC Markets Group
Last year: 34

Exchange listing is costly and, when reporting and other management burdens are factored in, unattractive for many small public companies. OTC Markets Group offers an alternative path to visibility and liquidity and, for some, a stepping-stone onto an exchange. Some 10,000 securities trade on the New York–based company’s three platforms. The top-tier OTCQX, marking its tenth anniversary in 2017, serves 399 domestic and global issuers with an aggregate $1.4 trillion in market capitalization. Its $36.8 billion in annual dollar volume represents 20 percent of the total for all over-the-counter securities.

That market, the middle-tier OTCQB Venture Market, and OTC Pink are more than just trading venues. OTC Markets Group, led by president and CEO R. Cromwell Coulson since 1997, aims to create favorable conditions for trading, transparency, disclosures, and analytics. The strategy is increasingly data-driven; 2016 saw the introduction of an online Research Marketplace to encourage independent analysis of OTCQX and OTCQB companies; a Compliance Analytics offering; and execution-quality and market maker performance metrics on the company’s OTC Link alternative trading system. “The fastest execution is not always the best execution,” Coulson, 50, notes. Armed with the data, “broker-dealers might tell market makers to slow down to get better execution quality.”


The 2017 Trading Tech 40

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1. Richard Prager
BlackRock

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2. Chris Isaacson
Bats Global Markets

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3. Bradley Peterson
Nasdaq

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4. Brad Levy
MarkitSERV

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5. Dan Keegan
Citi

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6. Glenn Lesko
Bloomberg Tradebook

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7. Bryan Durkin
CME Group

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8. Mayur Kapani
Intercontinental Exchange

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9. Mike Blum
KCG Holdings

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10. Raj Mahajan
Goldman Sachs Group

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11. Ronald DePoalo
Fidelity Institutional

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12. Nick Themelis
MarketAxess Holdings

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13. Jenny Knott
NEX Optimisation

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14. Billy Hult
Tradeweb Markets

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15. Rob Park
IEX Group

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16. Bill Chow & Richard Leung
Hong Kong Exchanges and Clearing

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17. John Mackay (Mack) Gill
MillenniumIT

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18. Paul Hamill
Citadel Securities

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19. Eric Noll
Convergex

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20. Veronica Augustsson
Cinnober Financial Technology

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21. Tyler Moeller & Joshua Walsky
Broadway Technology

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22. Alasdair Haynes
Aquis Exchange

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23. Gaurav Suri
Arcesium

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24. Manoj Narang
Mana Partners

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25. Michael Chin & Neill Penney
Thomson Reuters

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26. Robert Sloan
S3 Partners

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27. Anton Katz & Stephen Mock
AQR Capital Management

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28. Donal Byrne
Corvil

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29. Stu Taylor
Algomi

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30. Alfred Eskandar
Portware

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31. Steven Randich
Financial Industry Regulatory Authority

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32. R. Cromwell Coulson
OTC Markets Group

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33. Peter Maragos
Dash Financial

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34. John Fawcett
Quantopian

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35. Donald
Ross III
PDQ Enterprises

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36. Jennifer Nayar
Vela Trading Technologies

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37. Dan Raju
Tradier

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38. Susan Estes
OpenDoor Trading

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39. David Mercer
LMAX Exchange

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40. Oki Matsumoto
Monex Group


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