Getco LLC said it has appointed Jon Ross to the role of chief technology officer where the firm, one of the largest players in high frequency trading, is headquartered. Ross will oversee the global market making firm's strategy technology platform and the development of the company's suite of trading technology and execution products, according to the company.
Ross was previously head of Getco's Execution Services (GES) in Europe and oversaw order management, execution and technology solutions for the company's European clients. GES provides trade execution services for market participants in the U.S. and Europe, and is able to leverage the liquidity and technology of global market-maker Getco. In Europe, GES is a crossing network which matches orders from brokers seeking liquidity, with passive orders posted by Getco Europe Ltd traders.
Ross's appointment follows the departure of Getco’s former CTO Michael Rauchman last month who left the electronic trading firm after a leadership change in February when Daniel Coleman, the former head of equities trading and client services, was promoted to CEO. Commenting on the appointment, Coleman, said in today’s release, "Jon’s deep understanding of modern, market structure provides valuable insights into the challenges and opportunities facing investors as they seek optimal trading and execution experiences in a complex global marketplace. His combination of trading, exchange and client services experiences make him uniquely well-suited to lead Getco's global technology initiatives moving forward."
Prior to joining GETCO, Ross was the CTO of the Nasdaq Stock Market after it acquired Inet ATS from Instinet in December of 2005. While at Nasdaq, Ross led the "Single Book" integration of INET, Brut and Nasdaq's SuperMontage into a single platform and oversaw Nasdaq's initial RegNMS implementation. Prior to his position at Nasdaq, Jon was the CTO of the Inet ATS, Inc., Jon had previously served as First VP of Technology, Inet ATS, Inc. in charge of development and maintenance of INET's core trading platform. He held the same position at the Island ECN, which was acquired by Instinet in 2002.
"I was initially drawn to Getco because of the firm's deep commitment to developing market driven, technology focused solutions for investor's trading and execution challenges," commented Ross in today's release. "I look forward to working with the team to create better ways for investors to transfer risk."