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The 2015 Trading Technology 40: Billy Hult

#14 Billy Hult, President, Tradeweb Markets

    14
    Billy Hult
    President
    Tradeweb Markets

    In mid-2013, Tradeweb Markets was one of the first to apply to the Commodity Futures Trading Commission for permission to open swaps execution facilities under provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. With more than 20 SEFs in the mix — including two operated by Tradeweb — a shakeout is considered inevitable. But Tradeweb has proved its mettle, claiming a 40 percent share of buy-side SEF activity for interest rate swaps at year-end 2014, up from 10 percent a year earlier. “The tremendous work we’ve put into our SEFs has paid dividends, and we have distinguished ourselves as one of the leading players,” declaresBilly Hult, president of New York–based Tradeweb. Related to those efforts, Tradeweb has executed more than $700 billion in compression trades, in which investors and fund managers net out their positions to reduce risk. Since pioneering e-trading of U.S. Treasuries in the late 1990s, Tradeweb, now majority-owned by Thomson Reuters, has grown into a leading global fixed-income and derivatives platform. Hult, 45, who joined the company in 2000 from Société Générale and has been president since 2008, is spearheading an effort to crack the U.S. corporate credit market, a stronghold of MarketAxess Holdings (see Nicholas Themelis, No. 15). Last year Tradeweb introduced the first phase of its offering for round- and odd-lot corporate bond transactions in the U.S. High-yield and emerging-markets products are coming next. “We are doing everything to be a real competitor in this space,” Hult says. “We are extremely conscious of the patience needed to wind up succeeding in the right way.”

    See alsoHult's profile in the 2013 Trading Technology 40.

    The 2015 Trading Technology 40

    1
    2
    3
    4
    5
    Kevin Kometer
    CME Group
    Richard Prager
    BlackRock
    Raymond Tierney III
    Bloomberg Tradebook
    Jonathan Ross
    KCG Holdings
    Charles Vice
    Intercontinental Exchange
    6
    7
    8
    9
    10
    Chris Isaacson
    BATS Global Markets
    Bradley Peterson
    Nasdaq OMX Group
    Brad Levy
    MarkitSERV
    Dan Keegan
    Citi
    Ronald DePoalo
    Fidelity Institutional
    11
    12
    13
    14
    15
    Gerard Beatty
    Goldman Sachs Group
    Gerald O'Connell
    CBOE Holdings
    Brenda Hoffman
    TMX Group
    Billy Hult
    Tradeweb Markets
    Nicholas Themelis
    MarketAxess Holdings
    16
    17
    18
    19
    20
    Bina Kalola
    Bank of America Merrill Lynch
    Gil Mandelzis
    EBS-BrokerTec (ICAP)
    Steven Randich
    Financial Industry Regulatory Authority
    Jerry Dobner
    GFI Group
    Michael Liberman
    BlueMountain Capital Management
    21
    22
    23
    24
    25
    Bill Chow and Richard Leung
    Hong Kong Exchanges and Clearing
    Jamie Selway
    Investment Technology Group
    Brad Katsuyama
    IEX Group
    John Mackay (Mack) Gill
    MillenniumIT
    Jamil Nazarali
    Citadel Execution Services
    26
    27
    28
    29
    30
    Robert Cornish
    International Securities Exchange
    Tyler Moeller andJoshua Walksy
    Broadway Technology
    Rishi Nangalia
    REDI Holdings
    Manoj Narang
    Tradeworx,
    Thesys Technologies
    Oki Matsumoto
    Monex Group
    31
    32
    33
    34
    35
    Alasdair Haynes
    Aquis Exchange
    Veronica Augustsson
    Cinnober Financial Technology
    Stu Taylor
    Algomi
    Luís Otávio Saliba Furtado
    BM&FBovespa
    Tal Cohen
    Chi-X Global Holdings
    36
    37
    38
    39
    40
    Donal Byrne
    Corvil
    R. Cromwell Coulson
    OTC Markets Group
    Alfred Eskandar
    Portware
    理查德Korhammer
    SR Labs
    Hazem Dawani
    OptionsCity Software


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