Designated Market Maker
As a DMM for GETCO's clients, Peter Giacchi's (right) human role is needed more than ever. "Even with electronic trading, our role has actually increased. When you see that you have 90 percent market share, you could sit back and people come to you. Now that the market has changed and profit share has gone down, the liquidity and technology we provide is one of our offerings," he says. "With 20 years of experience, you almost become a detective to figure out what is going on with stocks." Besides, it's in his blood. "My father was on Wall Street and my mother was in the business and the first time she took me to breakfast at the Lunch Club, I've loved this place." What does he love about this job? "Everything," he says, with a smile.
Phil Albinus is the former editor-in-chief of Advanced Trading. He has nearly two decades of journalism experience and has been covering financial technology and regulation for nine years. Before joining Advanced Trading, he served as editor of Waters, a monthly trade journal ... View Full Bio