KCG Elevates Mike Blum as its CTO, Succeeding Jon Ross

KCG has made a key promotion across its technology business, elevating Mike Blum to the role of Chief Technology Officer (CTO), who steps into the role in October. The decision was taken after KCG’s current CTO Jon Ross parted ways with the group to pursue a variety of personal projects, according to a recently released KCG earnings report.

Mr. Blum originally joined KCG this past January, having been billed for the role of as Global Head of Client Technology. He has since been based out of New York, however the recent shakeup in the CTO role by Mr. Ross ultimately necessitated the move. Mr. Blum’s promotion also represents his latest role in what has amounted to a twenty-five year career across the financial services industry.

He joined KCG after a decorated career at leading institutional venues, having previously helped develop systems and manage teams globally across the ECN, ATS and Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term service spaces. Before joining KCG, he held senior level roles at Teza Technologies, Getco LLC, UBS, and Island ECN, among others, according to information made public on his Linkedin profile.

Earlier today, KCG Holdings made headlines after it reported its quarterly figures for Q2 2016, having disclosed a consolidated earnings totaling $33.6 million, which is $0.38 per diluted share. Income before taxes totaled $54.6 million, which included a gain of $33.4 million from the sale of the BATS Global Markets stake, which the company held.