Trading Places: JPMorgan, Citi Ramp Up Hiring, TraderTools Gets New CEO
- Catch up on the latest moves of the week.
Monday, October 31
Andrew Levine, TraderTools
Foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. Read this Term Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. Read this Term developer TraderTools Inc. appointed Andrew P. Levine as its new CEO. He will also take a seat on the company’s Board of Directors. Levine has previously worked at the Bank of New York Mellon and most recently at Overstock’s subsidiaries SpeedRoute and tØ.
Tuesday, November 1
Jim Grech, Fiserv
Fiserv, Inc. (NASDAQ: FISV) added a new Chief Information Officer (CIO) last Tuesday, securing Jim Grech to the role. Mr. Grech will step into his new role on November 7, 2016, succeeding Clifford Skelton – Mr. Skelton will remain with the group and will be moving into a new role at Fiserv after nearly five years across several leadership positions at the company.
Lieve Mostrey
Lieve Mostrey, Euroclear
Euroclear announced its newest senior addition last week, appointing Lieve Mostrey as its newest CEO. Ms. Mostrey will assume command only on January 1, 2017, succeeding Tim Howell, who will be relinquishing his role after a period of six years. In her new role Ms. Mostrey will help drive Euroclear’s strategic development.
Wednesday, November 2
Paul Brannan and Jonathan Cossey, JPMorgan
JPMorgan Chase & Co made two senior promotions last week, this time to its equities trading business, which included the appointment of both Paul Brannan and Jonathan Cossey as Global Co-Heads of Prime Brokerage. The elevation of both Mr. Brannan and Mr. Cossey follows on the heels of another key shakeup in the unit back in September. Two months ago, JPMorgan tapped Jason Sippel and Mark Leung as Global Co-Heads of Equities, replacing Tim Throsby, who parted ways with the lender for Barclays.
Ebru Pakcan: LinkedIn
Ebru Pakcan, Citi
Citi promoted Ebru Pakcan to head up its treasury and trade solutions business in Europe, the Middle East and Africa (EMEA). Pakcan, who joined Citigroup 19 years ago as an IT project manager, takes over the role from Rajesh Mehta, who was recently named Regional Head of TTS for Asia-Pacific. Pakcan will report to Jim Cowles, EMEA CEO, and Naveed Sultan, Global Head of TTS, and will be responsible for leading and developing the EMEA TTS franchise and driving business throughout the region.
Thursday, November 3
Tom Leake, Goldman Sachs
Goldman Sachs made a new senior appointment to its Europe, Middle East, and Africa (EMEA) team, tapping Tom Leake as the newest Head of Equity Structuring. In his new role, Mr. Leake will be heading the EMEA Equity Structuring unit whilst being based of London. He will begin his position in January and will be reporting to Guy Saidenberg, Goldman’s Global Head of Structuring.
Michael Steinharter, Earthport
Earthport appointed Michael Steinharter as its Chief Commercial Officer in London with immediate effect last week. The appointment of Mr. Steinharter will also see a transition of management responsibilities from Earthport’s Executive Director, Sajeev Viswanathan, to Mr. Steinharter – the decision follows Mr. Viswanathan deciding to step down from his position. Mr. Steinharter joined Earthport with over two decades of experience in the financial services sector.
Friday, November 4
Philip Chadwell, Alex Maldonado, and Max Levinson, Cantor Fitzgerald
Cantor Fitzgerald & Co. last week strengthened its Fixed Income unit with three senior hires, adding Philip Chadwell, Alex Maldonado, and Max Levinson as its newest trifecta of Managing Directors. All three individuals will be added to Cantor’s Fixed Income Sales unit and will be based out of the group’s New York branch. In this capacity they will be reporting to John Baldo, Senior Managing Director and Head Fixed Income Sales at Cantor Fitzgerald.
Chris Agathangelou, RBS
RBS made a new hire to its bond syndicate Friday, culminating in the appointment of Chris Agathangelou as its newest head of the group’s unit in Europe, Middle East and Africa (EMEA). As the Head of RBS’ Financial Institutions Bond Syndicate, Mr. Agathangelou will step into his new role within three months, spending the interim on personal leave.
Monday, October 31
Andrew Levine, TraderTools
Foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. Read this Term Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. Read this Term developer TraderTools Inc. appointed Andrew P. Levine as its new CEO. He will also take a seat on the company’s Board of Directors. Levine has previously worked at the Bank of New York Mellon and most recently at Overstock’s subsidiaries SpeedRoute and tØ.
Tuesday, November 1
Jim Grech, Fiserv
Fiserv, Inc. (NASDAQ: FISV) added a new Chief Information Officer (CIO) last Tuesday, securing Jim Grech to the role. Mr. Grech will step into his new role on November 7, 2016, succeeding Clifford Skelton – Mr. Skelton will remain with the group and will be moving into a new role at Fiserv after nearly five years across several leadership positions at the company.
Lieve Mostrey
Lieve Mostrey, Euroclear
Euroclear announced its newest senior addition last week, appointing Lieve Mostrey as its newest CEO. Ms. Mostrey will assume command only on January 1, 2017, succeeding Tim Howell, who will be relinquishing his role after a period of six years. In her new role Ms. Mostrey will help drive Euroclear’s strategic development.
Wednesday, November 2
Paul Brannan and Jonathan Cossey, JPMorgan
JPMorgan Chase & Co made two senior promotions last week, this time to its equities trading business, which included the appointment of both Paul Brannan and Jonathan Cossey as Global Co-Heads of Prime Brokerage. The elevation of both Mr. Brannan and Mr. Cossey follows on the heels of another key shakeup in the unit back in September. Two months ago, JPMorgan tapped Jason Sippel and Mark Leung as Global Co-Heads of Equities, replacing Tim Throsby, who parted ways with the lender for Barclays.
Ebru Pakcan: LinkedIn
Ebru Pakcan, Citi
Citi promoted Ebru Pakcan to head up its treasury and trade solutions business in Europe, the Middle East and Africa (EMEA). Pakcan, who joined Citigroup 19 years ago as an IT project manager, takes over the role from Rajesh Mehta, who was recently named Regional Head of TTS for Asia-Pacific. Pakcan will report to Jim Cowles, EMEA CEO, and Naveed Sultan, Global Head of TTS, and will be responsible for leading and developing the EMEA TTS franchise and driving business throughout the region.
Thursday, November 3
Tom Leake, Goldman Sachs
Goldman Sachs made a new senior appointment to its Europe, Middle East, and Africa (EMEA) team, tapping Tom Leake as the newest Head of Equity Structuring. In his new role, Mr. Leake will be heading the EMEA Equity Structuring unit whilst being based of London. He will begin his position in January and will be reporting to Guy Saidenberg, Goldman’s Global Head of Structuring.
Michael Steinharter, Earthport
Earthport appointed Michael Steinharter as its Chief Commercial Officer in London with immediate effect last week. The appointment of Mr. Steinharter will also see a transition of management responsibilities from Earthport’s Executive Director, Sajeev Viswanathan, to Mr. Steinharter – the decision follows Mr. Viswanathan deciding to step down from his position. Mr. Steinharter joined Earthport with over two decades of experience in the financial services sector.
Friday, November 4
Philip Chadwell, Alex Maldonado, and Max Levinson, Cantor Fitzgerald
Cantor Fitzgerald & Co. last week strengthened its Fixed Income unit with three senior hires, adding Philip Chadwell, Alex Maldonado, and Max Levinson as its newest trifecta of Managing Directors. All three individuals will be added to Cantor’s Fixed Income Sales unit and will be based out of the group’s New York branch. In this capacity they will be reporting to John Baldo, Senior Managing Director and Head Fixed Income Sales at Cantor Fitzgerald.
Chris Agathangelou, RBS
RBS made a new hire to its bond syndicate Friday, culminating in the appointment of Chris Agathangelou as its newest head of the group’s unit in Europe, Middle East and Africa (EMEA). As the Head of RBS’ Financial Institutions Bond Syndicate, Mr. Agathangelou will step into his new role within three months, spending the interim on personal leave.