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The 2017 Trading Tech 40: Eric Noll

< Wall Street's Nerds: The World's Most Powerful Trading Executives19. Eric NollPresident and Chief Executive OfficerConvergexLast year: 21

In Eric Noll, institutional investors have a voice in Washington. The president and CEO of agency-focused brokerage Convergex has for the past two years served on the Securities and Exchange Commission's Equity Market Structure Advisory Committee, representing his buy-side clients' interests. The 54-year-old chairs the panel's market quality subcommittee, which in November delivered recommendations on the National Market System antivolatility proposal known as Limit Up–Limit Down, marketwide circuit breakers, and uniform opening time.

Convergex was in turnaround mode when Noll, a former Susquehanna International Group and Nasdaq executive, joined in 2013. Today, serving 3,000 clients around the world, it is active in high-touch and electronic trading, prime brokerage, clearing, and commission management. In "ETFs — You're (Probably) Doing It Wrong," one of a series of recent thought papers, Noll observed that trading in the instruments is highly concentrated; 1 percent of the 1,976 U.S.-listed ETFs have almost half of the total assets under management, and many investors are missing out on some top performers. He put in a plug for Convergex's ETF Direct, where clients can "source multiple quotes in all U.S.-listed ETFs" and find block-size liquidity without payment for order flow or hidden fees.


 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