The 2017 Trading Tech 40: Donald Ross III
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The 2017 Trading Tech 40: Donald Ross III

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

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35. Donald Ross III

Chief Executive Officer

PDQ Enterprises

PNR


As its patented auction trading process gathered momentum in 2016, PDQ Enterprises rebranded its broker-dealer and anointed a new chief executive. The brokerage and alternative trading system operator formerly known as PDQ ATS is now CODA Markets, embodying the acronym Centralized On-Demand Auctions. In October, Donald Ross III succeeded his father, D. Keith Ross Jr. (No. 31 last year), as CEO. The Glenview, Illinois–based firm's slogan, "The power of pause," refers to a slowdown in the trade, not unlike the speed bump that brought notoriety to IEX Group and its Investors Exchange. However, PDQ and CODA explicitly serve the interests of liquidity seekers by creating a dedicated auction book — for 20 milliseconds in the case of its CODA Micro product, one second in CODA One, or 30 seconds in CODA Block. It is "an inclusive market that maximizes liquidity at the lowest cost and promotes level competition among all participants," Ross III, 34, says.


Before becoming CEO, he served for two years as chief strategy officer, contributing to "the development of sophisticated tools and analytics that will provide institutional subscribers with previously unavailable insight into liquidity profiles and market dynamics," as Ross Jr., now in what he calls "the active role of executive chairman," noted when he handed over the reins. The younger Ross, who has a BS in learning and organizational change from Northwestern University, spent most of his career with Getco, where he started as an intern during the time his father was CEO of that algorithmic trading pioneer.



 

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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