NYSE executive Meaghan Dugan always worked in kitchens as a youth and had dreams of becoming a famous chef. She even earned a degree in culinary science. However, instead of donning a poofy cap for a career as a chef, she pursued a career in the markets at the Pacific Stock Exchange and wore a colorful jacket.
Alex Lamb pursued one opportunity after another in the burgeoning financial futures markets in Europe starting in the mid-1970s, then later with technology providers to markets around the world that migrated to electronic formats. After he hired Gary Kemp as a programmer to connect GMI and DTB and then develop a front-end screen that turned into Trading Technologies’ desktop offering, Kemp returned the favor and hired Lamb at TT.
Alex Lamb wanted to be a helicopter pilot in the U.K. Royal Airforce. He never had the chance, but he strategically landed opportunity after opportunity in the banking, trading and related technology businesses during his long and varied career.
Lamb even helped launch the firm Trading Technologies, outlining to then contractor Gary Kemp what he wanted for a new electronic trading screen that would allow brokers to enter orders for multiple accounts and be able to track them more efficiently. That was the genesis of the screen that became Trading Technologies’ desktop offering.
John Walls is an executive with ADM Investor Services, but he started in the industry like many others of his generation as a trading floor messenger or runner. As a runner on the MidAmerica Commodity Exchange trading floor working for Shatkin Trading, Walls took advantage of nearly every opportunity he was presented with to learn all the different aspects of the markets and futures industry.
Michael Ourabah is the founder and CEO of BSO, a technology infrastructure provider specializing in connectivity for finance and capital market users. BSO recently embarked on a rebranding after being more of an engineering focused company that was “bad at marketing.” John Lothian News interviewed Ourabah over Zoom about BSO’s rebranding, telecoms in the age of the pandemic, cybersecurity, business as the world reopens, virtual reality and what comes next in technology.
The late author and Harvard professor Clayton Christensen coined the phrase “the innovator’s dilemma” in his popular book by the same name. In the book he describes why some well-run companies lose their dominant market position through the entrance of a competitor with a disruptive technology.
He uses as an example the personal computer and its smaller, slower disc drives, which disrupted “big iron” mainframe computers by offering a cheaper solution that was good enough.
The CME Group’s dominant market position in the U.S. futures market, which some classify as a monopoly, has spawned two separate challengers built on the model of the innovator’s dilemma. The Small Exchange and the Fair Exchange are seeking to disrupt the CME’s dominant position, or at least carve out a place of their own in the U.S. futures market landscape.
Daniel Carpenter is the head of sales at Meritsoft, a Cognizant company. John Lothian News interviewed Carpenter about the problems created by high-volume trading from banks, brokerages and other institutions, including how a company tracks the different fees it is paying or collecting from various trades.
After a long career in exchange-traded derivatives, Jack Bouroudjian, chairman of the Global Smart Commodity Group, is doing an about-face, turning to blockchain technology and tokenized settlement to facilitate trading.
FIA Tech announced yesterday a deal to take on 10 global banks as investors in the company in order to grow the for-profit FIA-affiliated firm. John Lothian interviewed FIA Chairman and CEO Walt Lukken and FIA Tech President and CEO Nick Solinger over Zoom about the deal.
In Part Two of Robin Trott – The Path to Electronic Trading, Trott talked about how block trade and call-around markets developed in Europe. Platforms were rushing to write to all of the individual European markets. There were a large number of them back then.
Robin Trott started out as an undergrad studying philosophy and politics, but it was the peak of the dotcom bust and he realized that wasn’t very practical. So he got a Master’s degree and got on the technology and operations graduate scheme at JP Morgan.
Bradley Rotter has been a pioneer in financial futures, hedge fund investing and cryptocurrencies. He was on the trading floor of the Chicago Board of Trade when financial futures were just getting started. He convinced Merrill Lynch they needed a financial futures expert and was hired, then later moved to New York to work for EF Hutton before returning to Chicago to become the floor manager for AG Becker & Co. when bonds were first traded in the old South Room of the CBOT.
Sterling Trading Tech is one of the firms in the eye of the storm for the rise of retail equity and option traders. John Lothian News caught up with their president and head of risk management to talk about how they fared and how they continue to deal with the influx of retail customers and resulting trading activity in 2020 and 2021.
First Read $51,906/$300,000 (17.3%) ++++ Hits & Takes John Lothian & JLN Staff The STA is holding the 88th Annual Market Structure Conference in person on October 6-8 at the JW Marriott in Washington, DC with the title "The Great Return." That is a very good...
Lead Stories How Options Trading Is Driving Up Stocks—and Driving Them Down Andrew Bary - Barron's Options trading by retail investors may account for the strength in the S&P 500 during the morning this year and weakness in the afternoon. The S&P 500 is up 9%...