< The 2015 Trading Technology 40: Going with the Flow
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Stu Taylor
Chief Executive Officer
Algomi
Previously Not Ranked
Bond and derivatives markets have long been magnets for trading technology innovators. Stu Taylor was one of them, having served in senior fixed-income positions at Merrill Lynch & Co. and UBS, and on the board of Tradeweb Markets (see Billy Hult, No. 15). But while weathering the financial crisis and its de-risking aftermath at UBS, where in 2010 he launched a pioneering matching model called PIN-FI, Taylor began contemplating how thoroughly the business was changing — “pure agency [brokering] in fixed income, where you take no risk at all, is very hard,” he says — and how much of it was illiquid and beyond the reach of those trading advances. That’s not to say it wasn’t ripe for automation. “Ninety-eight percent of bonds don’t trade every day,” the 42-year-old points out. “You have a buyer or a seller but not the other side of the trade. The reason trades happen is that a salesperson has spoken to a client and pulled liquidity into the market.” Supporting those salespeople with securities data and analytical tools, and connecting them with traders and investors in “just in time” fashion, is the intelligent networking engine developed by Algomi, which CEO Taylor co-founded in 2012 in London with former UBS colleagues Robert Howes (COO) and Usman Khan (CTO). Up to 90 employees from 55 a year ago, Algomi has nine banks using or installing its software. In January it named Tradeweb veteran Jesper Bruun-Olsen head of Asia-Pacific operations. Steve Gallagher, who became head of Algomi US last year, previously led Europe and Asia for MarketAxess Holdings.
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 |
