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The 2017 Trading Tech 40: Peter Maragos

< Wall Street's Nerds: The World's Most Powerful Trading Executives33. Peter MaragosChief Executive OfficerDash Financial TechnologiesLast year: 36

Liquidity and best execution don't come easy in options trading, not least because there are 14 U.S. equity options exchanges to navigate. As of early this year, Dash Financial, introduced in 2011 by CEO Peter Maragos and co-founder and chief marketing officer David Karat, was handling about 6.5 percent of daily options volume — a measure of the technology-focused brokerage's success in attracting institutional traders to its neutral, transparent, agency-execution model.

The power of Dash's technology became visible, literally, in January 2016 when the New York–based firm launched Dash360, a colorful dashboard incorporating the latest data visualization techniques and "empowering the buy side to discern how their orders behave in real time," Maragos said at the time. Dash followed that up in June with Drop360, enhancing its "transparency suite" for analysis and insight into order-routing and execution behavior, costs, and performance. The platform isn't confined to options: "Equities is a big growth area for us; we bring the same philosophy to it," says Maragos, 40, who before starting Dash was CEO of trading systems developer SDS Financial Technologies.

On January 4, Dash announced that it is merging with LiquidPoint, the options trading and technology business of Convergex, to create the biggest agency brokerage in options execution, with a 13 percent market share. The deal was engineered by private equity firm GTCR, which owned a controlling interest in Convergex. With the closing of the transaction on March 1, GTCR has a majority stake in the renamed Dash Financial Technologies, with Maragos serving as CEO and LiquidPoint's Ben Londergan as president. Maragos notes that there is little overlap, and considerable potential for synergy, in combining Dash with LiquidPoint. The latter has more sell-side penetration, an exchange technology business, and a compliance offering that Maragos believes will be an interesting "regtech" play by allowing firms to quickly calculate regulatory capital requirements. "Together we are uniquely positioned to offer the widest range of solutions to help the buy side, sell side, and exchanges navigate the ever-evolving market structure and regulatory environment," Maragos says.


 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