The 2016 Tech 50: Lee Olesky

The Tradeweb Markets CEO jumps to No. 20 on this year’s Tech 50 ranking.

2016-07-jeffrey-kutler-tech-50-lee-olesky-small.png

< The 2016 Tech 50

20
Lee Olesky
CEO
Tradeweb Markets
Last year: 21

Having introduced institutional electronic trading of U.S. Treasury securities in 1998 and added more than 20 asset classes to its now-global platform, Tradeweb Markets did not just overcome the long odds that any start-up faces. The company also survived the turn-of-the-century bubble, when dozens of aspirants failed to gain footholds in online fixed-income trading. Lee Olesky, who had a hand in the original business plan approved by his then-employer, Credit Suisse First Boston, 20 years ago, says he can’t point to any single event or decision that got Tradeweb over the hump. He talks instead about day-to-day consistency and improvement in performance and service, saying, “Every day we come in excited about innovating. There is no endgame.” The founding chairman of New York–based Tradeweb, Olesky left Credit Suisse — a member of the ownership consortium now led by Thomson Reuters — to start another joint venture platform, BrokerTec Global, which ICAP acquired in 2002. He returned to Tradeweb as president and has been CEO since 2008. The 54-year-old espouses a wave theory of market evolution, and Tradeweb caught two big ones: the 1990s Internet-fueled boom and the post–global financial crisis swap execution facility mandate for over-the-counter derivatives. “Change creates opportunity,” Olesky says, “and each wave produces winners.” Citing a confluence of regulatory, liquidity and cost issues, he adds, “We are the beginning of the next wave of change.” On cue, there is a boomlet in new platforms like Direct Match, Electronifie, Liquidnet Fixed Income (see Seth Merrin, No. 22) and Trumid Financial. The CEO says Tradeweb, which has more than 275 technology employees and 850-plus overall, is “uniquely situated” across three segments: institutional, or dealer-to-customer, on Tradeweb; wholesale, or interdealer, through its Dealerweb unit; and retail through Tradeweb Direct. In February, Tradeweb launched its U.S. marketplace for exchange-traded funds after handling more than €200 billion ($226 billion) in notional ETF volume in Europe since 2012. In March the company acquired trade-data and workflow-management software company CodeStreet, part of a bet Olesky is placing on data science as increasingly crucial to “finding the other side of a trade” and other analytical needs.

Visit The 2016 Tech 50: Making Financial Services Faster, Cheaper, Bigger for more.


The 2016 Tech 50

Sponsored
2016-07-jeffrey-kutler-tech-50-catherine-bessant-thumb.png

1. Catherine
Bessant
Bank of America Corp.

2016-07-jeffrey-kutler-tech-50-jeffrey-sprecher-thumb.png

2. Jeffrey Sprecher
Intercontinental Exchange

2016-07-jeffrey-kutler-tech-50-lance-uggla-thumb.png

3. Lance Uggla
Markit

2016-07-jeffrey-kutler-tech-50-phupinder-gill-thumb.png

4. Phupinder Gill
CME Group

2016-07-jeffrey-kutler-tech-50-shawn-edwards-vlad-kliatschk-thumb.png

5. Shawn Edwards and Vlad Kliatchko
Bloomberg

2016-07-jeffrey-kutler-tech-50-martin-chavez-thumb.png

6. R. Martin Chavez
Goldman Sachs Group

2016-07-jeffrey-kutler-tech-50-robert-goldstein-thumb.png

7. Robert Goldstein
BlackRock

2016-07-jeffrey-kutler-tech-50-adena-friedman-thumb.png

8. Adena Friedman
Nasdaq

2016-07-jeffrey-kutler-tech-50-deborah-hopkins-thumb.png

9. Deborah Hopkins
Citi Ventures

2016-07-jeffrey-kutler-tech-50-daniel-coleman-thumb.png

10. Daniel Coleman
KCG Holdings

2016-07-jeffrey-kutler-tech-50-stephen-neff-thumb.png

11. Stephen Neff
Fidelity Investments

2016-07-jeffrey-kutler-tech-50-david-craig-thumb.png

12. David Craig
Thomson Reuters

2016-07-jeffrey-kutler-tech-50-michael-spencer-thumb.png

13. Michael Spencer
ICAP

2016-07-jeffrey-kutler-tech-50-michael-bodson-thumb.png

14. Michael Bodson
Depository Trust & Clearing Corp.

2016-07-jeffrey-kutler-tech-50-charles-li-thumb.png

15. Charles Li
Hong Kong Exchanges and Clearing

2016-07-jeffrey-kutler-tech-50-chris-concannon-thumb.png

16. Chris Concannon
BATS Global Markets

2016-07-jeffrey-kutler-tech-50-blythe-master-thumb.png

17. Blythe Masters
Digital Asset Holdings

2016-07-jeffrey-kutler-tech-50-david-rutter-thumb.png

18. David Rutter
R3CEV

2016-07-jeffrey-kutler-tech-50-neil-katz-thumb.png

19. Neil Katz
D.E. Shaw & Co.

2016-07-jeffrey-kutler-tech-50-lee-olesky-thumb.png

20. Lee Olesky
Tradeweb Markets

2016-07-jeffrey-kutler-tech-50-richard-mcvey-thumb.png

21. Richard McVey
MarketAxess Holdings

2016-07-jeffrey-kutler-tech-50-seth-merrin-thumb.png

22. Seth Merrin
Liquidnet Holdings

2016-07-jeffrey-kutler-tech-50-robert-alexander-thumb.png

23. Robert Alexander
Capital One Financial Corp.

2016-07-jeffrey-kutler-tech-50-brad-katsuyama-thumb.png

24. Brad Katsuyama
IEX Group

2016-07-jeffrey-kutler-tech-50-antoine-shagoury-thumb.png

25. Antoine Shagoury
State Street Corp.

2016-07-jeffrey-kutler-tech-50-david-gledhill-thumb.png

26. David Gledhill
DBS Bank

2016-07-jeffrey-kutler-tech-50-lou-eccleston-thumb.png

27. Lou Eccleston
TMX Group

2016-07-jeffrey-kutler-tech-50-andreas-preuss-thumb.png

28. Andreas Preuss
Deutsche BÖrse

2016-07-jeffrey-kutler-tech-50-dan-schulman-thumb.png

29. Dan Schulman
PayPal Holdings

2016-07-jeffrey-kutler-tech-50-scott-dillion-thumb.png

30. Scott Dillon
Wells Fargo & Co.

2016-07-jeffrey-kutler-tech-50-mike-chinn-thumb.png

31. Mike Chinn
S&P Global Market Intelligence

2016-07-jeffrey-kutler-tech-50-craig-donohue-thumb.png

32. Craig Donohue
Options Clearing Corp.

2016-07-jeffrey-kutler-tech-50-gary-norcross-thumb.png

33. Gary Norcross
Fidelity National Information Services

2016-07-jeffrey-kutler-tech-50-steven-ohanlon-thumb.png

34. Steven O’Hanlon
Numerix

2016-07-jeffrey-kutler-tech-50-sebastian-ceria-thumb.png

35. Sebastián Ceria
Axioma

2016-07-jeffrey-kutler-tech-50-michael-cooper-thumb.png

36. Michael Cooper
BT Radianz

2016-07-jeffrey-kutler-tech-50-tyler-kim-thumb.png

37. Tyler Kim
MaplesFS

2016-07-jeffrey-kutler-tech-50-neal-pawar-thumb.png

38. Neal Pawar
AQR Capital Management

2016-07-jeffrey-kutler-tech-50-david-harding-thumb.png

39. David Harding
Winton Capital Management

2016-07-jeffrey-kutler-tech-50-chris-corrado-thumb.png

40. Chris Corrado
London Stock Exchange Group

2016-07-jeffrey-kutler-tech-50-brian-conlon-thumb.png

41. Brian Conlon
First Derivatives

2016-07-jeffrey-kutler-tech-50-jim-minnick-thumb.png

42. Jim Minnick
eVestment

2016-07-jeffrey-kutler-tech-50-stephane-dubois-thumb.png

43. Stephane Dubois
Xignite

2016-07-jeffrey-kutler-tech-50-mazy-dar-thumb.png

44. Mazy Dar
OpenFin

2016-07-jeffrey-kutler-tech-50-yasuki-okai-thumb.png

45. Yasuki Okai
NRI Holdings America

2016-07-jeffrey-kutler-tech-50-kim-fournais-thumb.png

46. Kim Fournais
Saxo Bank

2016-07-jeffrey-kutler-tech-50-jock-percy-thumb.png

47. Jock Percy
Perseus

2016-07-jeffrey-kutler-tech-50-robert-schifellite-thumb.png

48. Robert Schifellite
Broadridge Financial Solutions

2016-07-jeffrey-kutler-tech-50-brian-sentance-thumb.png

49. Brian Sentance
Xenomorph Software

2016-07-jeffrey-kutler-tech-50-pieter-van-der-does-thumb.png

50. Pieter van der Does
Adyen

Related