< Wall Street’s Nerds: The World’s Most Powerful Trading Executives
8. Mayur Kapani
Chief Technology Officer
Intercontinental Exchange
Last year: 11
In 2006, when Mayur Kapani joined Intercontinental Exchange in Atlanta from the Philadelphia Stock Exchange, ICE operated a single trading platform. Today — more than three years after ICE completed its acquisition of NYSE Euronext — it consists of 11 exchanges, six clearinghouses, and a big and growing data business. Kapani took on global infrastructure responsibility in May 2016 when he was promoted from senior vice president of trading technology to chief technology officer, a title last held by Edwin Marcial, who left the company in October 2014. (No. 1 in 2014, Marcial is now advising and investing in start-ups.)
Before becoming CTO, Kapani headed teams responsible for ICE’s futures and options exchanges, the Trade Vault data repository, ICE Benchmark Administration, and SuperDerivatives. The last is a data business that ICE acquired in late 2014 for $350 million; a year later it purchased Interactive Data Corp. for $5.2 billion. Data services revenue more than doubled in 2016, to $2 billion, or roughly one third of ICE’s total revenue before subtracting transaction-based expenses. “High-quality, trusted data is more in demand than ever thanks to regulatory requirements for independent valuations, the standardization of products for electronic trading and clearing, increasing indexation and passive investments, fragmentation in the markets, and the need to trade with algorithms and quantitatively driven programs,” Kapani, 48, observed in a recent interview on the ICE website. “That increased need for data is sparking a related need for technology that organizes data inputs, supports real-time market analysis, and delivers access and connectivity to global markets.” ICE announced an agreement February 15 to acquire communications and connectivity services provider TMX Atrium from Toronto’s TMX Group, and the business will become part of ICE Data Services and its Secure Financial Transaction Infrastructure.
The 2017 Trading Tech 40
1. Richard Prager 2. Chris Isaacson 3. Bradley Peterson 4. Brad Levy 5. Dan Keegan |
6. Glenn Lesko 7. Bryan Durkin 8. Mayur Kapani 9. Mike Blum 10. Raj Mahajan |
11. Ronald DePoalo 12. Nick Themelis 13. Jenny Knott 14. Billy Hult 15. Rob Park |
16. Bill Chow & Richard Leung 17. John Mackay (Mack) Gill 18. Paul Hamill 19. Eric Noll 20. Veronica Augustsson |
21. Tyler Moeller & Joshua Walsky 22. Alasdair Haynes 23. Gaurav Suri 24. Manoj Narang 25. Michael Chin & Neill Penney |
26. Robert Sloan 27. Anton Katz & Stephen Mock 28. Donal Byrne 29. Stu Taylor 30. Alfred Eskandar |
31. Steven Randich 32. R. Cromwell Coulson 33. Peter Maragos 34. John Fawcett 35. Donald |
36. Jennifer Nayar 37. Dan Raju 38. Susan Estes 39. David Mercer 40. Oki Matsumoto |
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Mayur Kapani
Chief Technology Officer
Intercontinental Exchange
Last year: 11
In 2006, when Mayur Kapani joined Intercontinental Exchange in Atlanta from the Philadelphia Stock Exchange, ICE operated a single trading platform. Today — more than three years after ICE completed its acquisition of NYSE Euronext — it consists of 11 exchanges, six clearinghouses, and a big and growing data business. Kapani took on global infrastructure responsibility in May 2016 when he was promoted from senior vice president of trading technology to chief technology officer, a title last held by Edwin Marcial, who left the company in October 2014. (No. 1 in 2014, Marcial is now advising and investing in start-ups.)
Before becoming CTO, Kapani headed teams responsible for ICE’s futures and options exchanges, the Trade Vault data repository, ICE Benchmark Administration, and SuperDerivatives. The last is a data business that ICE acquired in late 2014 for $350 million; a year later it purchased Interactive Data Corp. for $5.2 billion. Data services revenue more than doubled in 2016, to $2 billion, or roughly one third of ICE’s total revenue before subtracting transaction-based expenses. “High-quality, trusted data is more in demand than ever thanks to regulatory requirements for independent valuations, the standardization of products for electronic trading and clearing, increasing indexation and passive investments, fragmentation in the markets, and the need to trade with algorithms and quantitatively driven programs,” Kapani, 48, observed in a recent interview on the ICE website. “That increased need for data is sparking a related need for technology that organizes data inputs, supports real-time market analysis, and delivers access and connectivity to global markets.” ICE announced an agreement February 15 to acquire communications and connectivity services provider TMX Atrium from Toronto’s TMX Group, and the business will become part of ICE Data Services and its Secure Financial Transaction Infrastructure.