Posts Tagged ‘High-frequency trading’

Who’s who at Athena Capital Research?

October 17th, 2014 No comments

AFP 533499123 A MAE USA DCThe Securities and Exchange Commission’s $1 million settlement with Athena Capital Research minute the high-frequency trade firm’s strategy of Nasdaq-listed batch prices. But it didn’t discuss the company’s executives.

Why weren’t they enclosed in the case — the regulator’s initial strategy move opposite a high-frequency trade firm?  And who have been they?

The SEC declined to yield on-the-record answers to multiform questions about the allotment — together with the deficiency of allegations opposite declared individuals, the temperament of the organisation which privileged Athena’s trades and because it took until 2014 to strech a fortitude of actions which occurred in 2009.

However, electronic open annals and alternative online sources yield a little report about Athena’s benefaction and former executives.

A list of speakers for a 2010 algorithmic trade conference at New York University listed Brad Banks as an Athena co-founder. Banks was identified as a Massachusetts Institute of Technology connoisseur with degrees in mechanism science.

According to the listing, Banks worked at Tower Research Capital, a pioneering high-speed trade and monetary services organisation founded by Mark Gorton.  A 2007 Bloomberg News story enclosed an admiring allude to from Banks about the programmed trade strategies used by Gorton’s firm.

“I believed they would do considerable things, and it seemed potentially rewarding,” pronounced Banks. “And it was.”

But the SEC hasn’t regularly been as congratulatory of Tower-related activities. In September, a Tower auxiliary well known as Latour Trading concluded to compensate a $16 million penalty to solve SEC allegations which it unsuccessful to keep sufficient glass resources to behind the risks of the high-frequency trading.

Banks did not reply to a summary sent to Athena looking comment. However, the association released a matter Thursday which settled in part: “Athena believes which the trade wake up helped prove marketplace direct for liquidity during a duration of rare direct for such liquidity. Athena stopped using the trade strategies in subject multiform years ago, essentially due to disappearing marketplace direct for liquidity.”

The association conjunction certified nor denied the SEC allegations.

A 2010 Dow Jones Newswires story identified Peter Buckley as a Tower Research Capital Research alumnus, and pronounced he additionally served as an Athena executive. Buckley was arch handling military military officer and handling partner at Athena after withdrawal Tower, according to a 2012 criticism by the Futures Industry Association’s magazine.

Buckley subsequently worked for the U.S. multiplication of Newedge, the tellurian group attorney and clearing organisation owned by Societe Generale, the France-based multinational bank and monetary services giant. The Commodity Futures Trading Commission cited Buckley’s Newedge tie in a 2012 announcement which pronounced he was between nominees tapped for an advisory cabinet on programmed and high-frequency trading.

Buckley could not be reached for comment.

Neither could Evan Wies. But his LinkedIn profile says Wies worked as the arch record military military officer for an unclear sidestep account from Mar 2004 to Jun 2011.

“I would discuss it you, but afterwards I’d have to kill you. But I did lead an amazing, flexible group and managed a multi-million dollar record budget,” the form quoted Wies as saying.

The association was identified as Athena in a separate profile of Wies on the the website of Stone Ridge Technology, a Maryland organisation which offers products and services for tall opening computing. The form identified Wies as an confidant and pronounced he perceived undergraduate and connoisseur degrees in electrical engineering and mechanism scholarship from MIT.