< The 2015 Trading Technology 40: Going with the Flow
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Kevin Kometer
Chief Information Officer
CME Group
Last year: 2
CME Group went through a reorganization last year, in part to hold the line on expenses. But it’s not because business is hurting. The big Chicago-based derivatives exchange operator’s net income through nine months rose 5 percent year-over-year, to $821 million, on $2.3 billion in revenue. The full year’s average daily volume climbed 9 percent, to a record 13.7 million contracts, the vast majority executed on the Globex electronic platform. On October 15, CME’s systems handled 39.6 million contracts across all venues — 12.6 million more than on the previous record day of May 29, 2013 — with nary a blip. All that is a testament to the capacity and agility of the technology infrastructure over which CIO Kevin Kometer has been presiding since 2008. Reliability and resilience — what Kometer, 50, terms “unparalleled predictability and consistency, posttrade as well as on the trading side” — now supersede low latency as the top performance objectives because, he says, customers require it. In fact, the reorganization is predicated on the idea that future growth will come from understanding and solving customers’ problems, rather than pushing out “solutions looking for problems.” One change in CME’s IT group was the creation of a “unified architecture team” under Ari Studnitzer, a top Kometer lieutenant, to bring that “singular focus on the customer” into systems development and innovation. CME’s first implementation of field-programmable gate array technology, as a pilot in an order-entry gateway last year, was just such a problem-solver: “It improved the ‘tails’ — predictability and consistency — by 99 percent without reducing median latency.”
See also Kometer'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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Chris Isaacson
BATS Global Markets Bradley Peterson
Nasdaq OMX Group Brad Levy
MarkitSERV Dan Keegan
Citi Ronald DePoalo
Fidelity Institutional 11
12
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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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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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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
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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
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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