Warning: trim() expects at least 1 parameter, 0 given in /home/customer/www/johnlothiannews.com/public_html/wp-content/themes/Divi/includes/builder/functions.php on line 12283
Scott Knudsen - The Path to Electronic Trading Led to a Best Execution Platform For Bitcoin | John Lothian News

Scott Knudsen – The Path to Electronic Trading Led to a Best Execution Platform For Bitcoin

John Lothian

John Lothian

Executive Chairman and CEO

A Trader and Industry Executive Who Continues to Change with the Times.

John Lothian News interviewed Scott Knudsen, the founder of Cove Markets and a longtime former executive with IMC, for The Path to Electronic Trading video series, but we broke off this part of the interview into a stand-alone video. 

Knudsen talked about his early experiences with the crypto markets, starting in 2012 when an IMC employee talked about a quirky new product. That product was what encouraged Knudsen to launch Cove Markets.

Knudsen and his IMC team in Chicago took a deep look at bitcoin back in 2017.  The initiative at IMC was scrapped as other more profitable markets needed the resources at the time.

However, Knudsen was encouraged to look at crypto by one of the biggest investors in the space. Despite a market that looked like a bubble, he jumped into bitcoin anyway.

He and a friend from the industry considered starting an exchange and how lucrative it might be. As he talked to more people in the space, the bubble in bitcoin broke in 2017. 

Asking himself how he could add value to the space, Knudsen said he decided to build a tool for traders to get the best execution, much as he did at IMC when they addressed how to trade multi-listed options in an increasingly electronically traded equity options world. With a fragmented market and no Reg NMS to bring the market together, Cove Markets was the result and Knudsen tells the story of building the firm and the best execution platform. 

Griffin’s Citadel Nears Tipping Point on Chicago Exit Over Crime

Griffin’s Citadel Nears Tipping Point on Chicago Exit Over Crime

First Read Hits & Takes John Lothian & JLN Staff I have a great story to share. Last night my wife and I attended the Metals dinner, a fundraiser for the Pathway to Adventure Council (PTAC) of the Boy Scouts of America. The flag ceremony included two brothers;...

We visit more than 100 financial news websites daily (Would YOU do that?)

The Spread

More Trader History Videos

Doug Engmann – Open Outcry Traders History Project – Part One

Doug Engmann – Open Outcry Traders History Project – Part One

A young Doug Engmann once had hopes of becoming a professional baseball player. Despite his continued love of the sport, his early career goals eventually shifted from the game of baseball to the game of investing. 

Throughout his career, Engmann employed a persistence and penchant for leadership in the West Coast options industry that carried him through dramatic events that include a proposed San Francisco options floor merger, the stock market crash of 1987, and a closed exchange during a massive earthquake.

Tom Greene Celebrates 50 Years on Wall Street at NYSE

Tom Greene Celebrates 50 Years on Wall Street at NYSE

Head of NYSE Trading Floors Worked His Way from Runner to Head of Cotton Exchange and On to NYSE Trading Floor Head

Tom Greene wanted to be a civil servant, perhaps a fireman, when he was growing up. However, despite his best efforts, the jobs went to returning VietNam veterans. So he chose a vocation working with electricity, but that did not get him too far. Eventually, a cousin on Wall Street suggested he come down to Wall Street. And so began a career that has spawned 50 years, from his days as a runner on the New York Cotton Exchange to his role of Senior Vice President at the New York Stock Exchange today.

Kenny Polcari – Open Outcry Traders History Project Part 2

Kenny Polcari – Open Outcry Traders History Project Part 2

When Kenny Polcari started out at the New York Stock Exchange, “It was paper and pencil until the turn of the century,” he said. 

The exchange started to introduce handheld computers in the late 1990s, but it was only in beta, not full blown yet.  Everyone was preparing for Y2K. When Y2K happened and the technology didn’t fail, Polcari said, there was a push on the industry to move forward with modernization. They converted all the stocks over to decimals alphabetically, one at a time, over a six-month period, starting with the stocks named A to D. 

Pin It on Pinterest

Share This Story