The 2015 Trading Technology 40: Chris Isaacson
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The 2015 Trading Technology 40: Chris Isaacson

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#6 Chris Isaacson, Global Chief Information Officer, BATS Global Markets

< The 2015 Trading Technology 40: Going with the Flow

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Chris Isaacson

Global Chief Information Officer

BATS Global Markets

Last year: 8


BATS Global Markets became one of the world’s biggest exchange operators when it completed its acquisition of Direct Edge Holdings in January 2014. It then proceeded to hit all of its integration milestones. As of January 2015 the combined company’s four equity markets as well as BATS Options were running on a single data center in Secaucus, New Jersey. The postmerger transition “asked a lot from our customers,” says Chris Isaacson, 36, executive vice president and global CIO. All went seamlessly enough that in November, Lenexa, Kansas–based BATS’s average daily matched volume of 1.25 billion shares amounted to 20.3 percent of the U.S. total, up from 10 percent a year earlier. The decision to maintain four exchanges — BATS’s BZX and BYX and Direct Edge’s EDGA and EDGX — went against conventional consolidation thinking. “We found that customers like the choice,” explains Isaacson, a member of ten-year-old BATS’s founding team of technologists; he served as chief operating officer from 2007 until last year. “They want the functionality difference.” BZX, for instance, ranks high in execution quality for stocks in the S&P 500, and EDGX attracts retail order flow from top discount brokerages. Meanwhile, BATS’s share of U.S. equity options doubled year-over-year, to 5.8 percent, in November. November was a peak month for BATS Chi-X Europe, with a 22.9 percent market share; its BXTR trade reporting service had a dominant 62.1 percent. In keeping with BATS’s “making markets better” motto, BXTR brings consolidated-tape-style price transparency to Europe. Also, says Isaacson, “We are working with the SEC to strengthen performance and disaster recovery.”


See also Isaacson's profiles in the 2013 Trading Technology 40 and the 2012 Trading Technology 30.


 

The 2015 Trading Technology 40



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Kevin Kometer

CME Group Richard Prager

BlackRock Raymond Tierney III

Bloomberg Tradebook Jonathan Ross

KCG Holdings Charles Vice

Intercontinental Exchange 6

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7

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Zef Nikolla

8

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Chris Isaacson

BATS Global Markets Bradley Peterson

Nasdaq OMX Group Brad Levy

MarkitSERV Dan Keegan

Citi Ronald DePoalo

Fidelity Institutional 11

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Mark McQueen

12

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13

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14

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15

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Margaret Fox

Gerard Beatty

Goldman Sachs Group Gerald O'Connell

CBOE Holdings Brenda Hoffman

TMX Group Billy Hult

Tradeweb Markets Nicholas Themelis

MarketAxess Holdings 16

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17

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18

Steve Randich
Martin H. Simon

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Todd Plitt

20

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A.E. Fletcher Photography

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

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22

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Photographer:http://www.digitalh

23

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24

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Dennis Degnan

25

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Paul Elledge

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

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27

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Picasa

29

SENATE BANKING
Andrew Harrer

30

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Takashi KATO

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

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32

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unknown

33

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Douglas Kurn

34

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Luludi/LUZ

35

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William Neumann Photography

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

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37

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38

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39

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40

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Donal Byrne

Corvil R. Cromwell Coulson

OTC Markets Group Alfred Eskandar

Portware Richard Korhammer

SR Labs Hazem Dawani

OptionsCity Software


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