< The 2015 Trading Technology 40: Going with the Flow
3
Raymond Tierney III
President and Chief Executive Officer
Bloomberg Tradebook
Last year: 3
Although the much-anticipated extension of automated trading into instruments beyond equities remains only partly realized, to Raymond Tierney III of Bloomberg Tradebook, “It’s real and it’s happening now.” Much of Tierney’s focus over the past 12 months has been on preparing the New York–based Bloomberg agency brokerage, which serves more than 1,000 clients, for cross-asset e-trading. Last July, Bloomberg LP, the parent of Tradebook, acquired RTS Realtime Systems, a provider of low-latency connectivity and trading tools for equities, fixed income, futures, options and foreign exchange. “Before this, speed and capacity were not the first reasons someone would call Bloomberg Tradebook,” says Tierney, 55,who became CEO of Tradebook in 2010 after 16 years with Morgan Stanley. “As the rapid electronification of markets continues, it makes ultralow latency and connectivity across asset classes a top priority.” With many firms capital-constrained and migrating away from principal trading and toward an agency model, they will “need electronic offerings to build scale and serve global clients,” Tierney observes. In October, Tradebook launched an RFQ (request for quote) service for exchange-traded funds, covering both liquid and thinly traded products. “ETFs account for 17 percent of actual trading volume in the U.S.,” Tierney notes. “There’s a real need for something more than an algo to affect this type of trading.” Tradebook volume grew 5 percent in 2014, with nondollar business rising 26 percent. Tierney sees “a thirst for global products — and it’s cross-asset-class. We sit at the epicenter of that.”
See also Tierney's profile in the 2013 Trading Technology 40 and the 2012 Trading Technology 30.
The 2015 Trading Technology 40
1
2
3
4
5
Kevin Kometer
CME Group Richard Prager
BlackRock Raymond Tierney III
Bloomberg Tradebook Jonathan Ross
KCG Holdings Charles Vice
Intercontinental Exchange 6
7
8
9
10
Chris Isaacson
BATS Global Markets Bradley Peterson
Nasdaq OMX Group Brad Levy
MarkitSERV Dan Keegan
Citi Ronald DePoalo
Fidelity Institutional 11
12
13
14
15
Gerard Beatty
Goldman Sachs Group Gerald O'Connell
CBOE Holdings Brenda Hoffman
TMX Group Billy Hult
Tradeweb Markets Nicholas Themelis
MarketAxess Holdings 16
17
18
19
20
Bina Kalola
Bank of America Merrill Lynch Gil Mandelzis
EBS-BrokerTec (ICAP) Steven Randich
Financial Industry Regulatory Authority Jerry Dobner
GFI Group Michael Liberman
BlueMountain Capital Management 21
22
23
24
25
Bill Chow and Richard Leung
Hong Kong Exchanges and Clearing Jamie Selway
Investment Technology Group Brad Katsuyama
IEX Group John Mackay (Mack) Gill
MillenniumIT Jamil Nazarali
Citadel Execution Services 26
27
28
29
30
Robert Cornish
International Securities Exchange Tyler Moeller andJoshua Walksy
Broadway Technology Rishi Nangalia
REDI Holdings Manoj Narang
Tradeworx,
Thesys Technologies Oki Matsumoto
Monex Group 31
32
33
34
35
Alasdair Haynes
Aquis Exchange Veronica Augustsson
Cinnober Financial Technology Stu Taylor
Algomi Luís Otávio Saliba Furtado
BM&FBovespa Tal Cohen
Chi-X Global Holdings 36
37
38
39
40
Donal Byrne
Corvil R. Cromwell Coulson
OTC Markets Group Alfred Eskandar
Portware Richard Korhammer
SR Labs Hazem Dawani
OptionsCity Software
