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The 2016 Trading Technology 40: Gil Mandelzis

No. 14 Gil Mandelzis, EBS BrokerTec (ICAP)

    14
    Gil Mandelzis
    Chief Executive Officer
    EBS BrokerTec (ICAP)
    Last year: 15

    What happens when a company that’s No. 1 in its field turns into something completely different? Having bulked up in technology and electronic trading since the turn of the century, ICAP, the longtime leader in interdealer brokerage, agreed in November to transfer its voice and hybrid brokering and related information businesses to rival Tullett Prebon. The new ICAP becomes what group CEO Michael Spencer calls “a pure posttrade services and electronic trading group.” The e-trading business, which produced £259 million ($384 million) of ICAP’s total £1.3 billion in revenue in the fiscal year ended in March 2015, is led byGil Mandelzis, who describes the redefined ICAP as “a true fintech company and supermarket of liquidity.” Mandelzis joined the London-based firm in 2007, when it acquired transaction processor Traiana, which he founded and which now resides in the posttrade segment (£228 million in fiscal 2015 revenue, led by Jenny Knott). Mandelzis moved on to become CEO of ICAP’s EBS foreign exchange marketplace. Late in 2014, ahead of the integration of fixed-income platform BrokerTec with EBS, Mandelzis was named CEO of EBS BrokerTec. That combination results in powerful “operating leverage,” he says. Capital investments of more than $100 million over several years and upgrades in EBS technology and products now extend to BrokerTec as well. Mandelzis, 47, believes the unit’s size and synergies raise “barriers to entry” that will keep potential competitors at bay. “The market will converge around fewer ‘supermarket’ players, highly integrated and with economies of scale,” he says. For ICAP “the addressable market expands massively — any institutional client, any trading style, anywhere in the world.”

    2016 Trading Technology 40

    1.Raymond Tierney III
    Bloomberg
    2.Richard Prager
    BlackRock
    3.Chris Isaacson
    BATS Global Markets
    4.Jonathan Ross
    KCG Holdings
    5.Bradley Peterson
    Nasdaq
    6.Brad Levy
    Markit
    7.Dan Keegan
    Citi
    8.Ronald DePoalo
    Fidelity Institutional
    9.Raj Mahajan
    Goldman Sachs Group
    10.Ari Studnitzer
    CME Group
    11.Mayur Kapani
    Intercontinental Exchange
    12.Gerald O’Connell
    CBOE Holdings
    13.Nicholas Themelis
    MarketAxess Holdings
    14.Gil Mandelzis
    EBS BrokerTec (ICAP)
    15.Bill Chow and Richard Leung
    Hong Kong Exchanges and Clearing
    16.Rob Park
    IEX Group
    17.Philip Weisberg
    Thomson Reuters
    18.John Mackay (Mack) Gill
    MillenniumIT
    19.Robert Cornish
    International Securities Exchange
    20.Paul Hamill
    Citadel Securities
    21.Eric Noll
    Convergex
    22.Tyler Moeller and Joshua Walsky
    Broadway Technology
    23.Rishi Nangalia
    REDI Holdings
    24.Veronica Augustsson
    Cinnober Financial Technology
    25.Alasdair Haynes
    Aquis Exchange
    26.Manoj Narang
    Mana Partners
    27.Gaurav Suri
    Arcesium
    28.Robert Sloan
    S3 Partners
    29.Anton Katz and Stephen Mock
    AQR Capital Mgmt
    30.Stu Taylor
    Algomi
    31.D. Keith Ross Jr.
    PDQ Enterprises
    32.Donal Byrne
    Corvil
    33.Alfred Eskandar
    Portware
    34.R. Cromwell Coulson
    OTC Markets Group
    35.Masayuki Hosaka
    Rakuten
    36.Peter Maragos and David Karat
    Dash Financial
    37.Amar Kuchinad
    Electronifie
    38.詹妮弗·纳亚尔
    SR Labs
    39.Dave Snowdon
    Metamako
    40.Dan Raju
    Tradier

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