The 2017 Trading Tech 40: Mayur Kapani

No. 8 Mayur Kapani, Chief Technology Officer, Intercontinental Exchange

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< Wall Street’s Nerds: The World’s Most Powerful Trading Executives

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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

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1. Richard Prager
BlackRock

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2. Chris Isaacson
Bats Global Markets

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3. Bradley Peterson
Nasdaq

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4. Brad Levy
MarkitSERV

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5. Dan Keegan
Citi

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6. Glenn Lesko
Bloomberg Tradebook

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7. Bryan Durkin
CME Group

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8. Mayur Kapani
Intercontinental Exchange

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9. Mike Blum
KCG Holdings

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10. Raj Mahajan
Goldman Sachs Group

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11. Ronald DePoalo
Fidelity Institutional

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12. Nick Themelis
MarketAxess Holdings

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13. Jenny Knott
NEX Optimisation

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14. Billy Hult
Tradeweb Markets

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15. Rob Park
IEX Group

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16. Bill Chow & Richard Leung
Hong Kong Exchanges and Clearing

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17. John Mackay (Mack) Gill
MillenniumIT

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18. Paul Hamill
Citadel Securities

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19. Eric Noll
Convergex

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20. Veronica Augustsson
Cinnober Financial Technology

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21. Tyler Moeller & Joshua Walsky
Broadway Technology

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22. Alasdair Haynes
Aquis Exchange

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23. Gaurav Suri
Arcesium

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24. Manoj Narang
Mana Partners

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25. Michael Chin & Neill Penney
Thomson Reuters

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26. Robert Sloan
S3 Partners

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27. Anton Katz & Stephen Mock
AQR Capital Management

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28. Donal Byrne
Corvil

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29. Stu Taylor
Algomi

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30. Alfred Eskandar
Portware

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31. Steven Randich
Financial Industry Regulatory Authority

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32. R. Cromwell Coulson
OTC Markets Group

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33. Peter Maragos
Dash Financial

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34. John Fawcett
Quantopian

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35. Donald
Ross III
PDQ Enterprises

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36. Jennifer Nayar
Vela Trading Technologies

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37. Dan Raju
Tradier

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38. Susan Estes
OpenDoor Trading

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39. David Mercer
LMAX Exchange

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40. Oki Matsumoto
Monex Group


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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.

Jennifer Nayar TMX Group TMX Atrium Mayur Kapani Toronto
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