25. Michael Chin & Neill PenneyCo-heads of TradingThomson ReutersPNR
Thomson Reuters' network spans the globe and touches all asset classes. More than 2,000 customer sites around the world use the company's enterprise platform to support their trading infrastructure. Thomson Reuters data is used to price more than $3 trillion in assets every day. Yet co-head of trading Neill Penney says, "We can no longer be all things to all people in the rapidly evolving marketplace." Although Thomson Reuters is not averse to expanding its portfolio when it makes strategic sense in January it completed the acquisition of REDI Holdings, a major player in execution management systems Penney, 46, and his counterpart, Michael Chin, 50, emphasize partnerships with other innovators. They announced deals last year with, for example, OptionsCity Software for an app enabling commodity options and futures orders to be executed on the Thomson Reuters Eikon platform, and with BestX for foreign exchange transaction cost analysis. "Our open platform approach means we are able to connect BestX with our FXall and FX Trading platforms, bringing our customers improved capabilities while eliminating the integration work they would otherwise have to perform themselves," Penney said at the time. Explains Chin, "We're committed to developing our own solutions and inviting the best innovators into our ecosystem." The result is "unique provider content sets" that may include market data, news, and analytics.
With a mathematics degree from the University of Oxford, Penney worked at FXall and later rose to European head of fixed-income e-trading strategy at Morgan Stanley before joining Thomson Reuters in 2013. Chin, who has an information decision systems degree from Carnegie Mellon University, was previously president and CEO, respectively, of trading technology companies TradingScreen and Mantara and was Thomson Reuters' global head of equities. Chin says that the company will be investing in REDI, which serves 3,800 traders worldwide, to meet buy-side needs for "truly open, broker-neutral trading systems."
The 2017 Trading Tech 40Click below to view profiles