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2015年的交易技术40:Brad Katsuyama
#23 Brad Katsuyama, President and Chief Executive Officer, IEX Group
Two years ago IEX Group was just another upstartdark pooloperator. Yes, it was controlled by buy-side owners, setting it apart from its rivals. It had a management team out of RBC Capital Markets determined to disrupt the status quo by favoring the interests of stock issuers and investors over those of high frequency traders. Those characteristics may have attracted plenty of notice on Wall Street, but IEX’s notoriety spread far beyond that with the March 2014 release ofMichael Lewis’s anti-HFT bestseller,Flash Boys, which portrayed IEX president and CEOBrad Katsuyamaas a heroic underdog. Since handling 568,000 shares on its first trading day, in October 2013, IEX is currently in the range of 130 million to 140 million a day, further stoking the 36-year-old’s star power on the business-talk-show circuit. “We’ve grown substantially,” asserts Katsuyama, formerly global head of electronic sales and trading at RBC, a unit of Royal Bank of Canada. “Why? Because we’re trying to create the fairest possible trading environment.” In September, IEX raised $75 million from Bain Capital Ventures, MassMutual Ventures and Spark Capital, among others, and began the process of filing to become a full-fledged exchange. “We don’t just want to complain about exchanges,” Katsuyama says. “We want to do something about it” by simplifying order types and avoiding practices like paying for order flow. He vows not to go into the technology sales business: “We use technology for one thing — to create a better experience.”