Gain Capital, an online currency market maker expected to go live at the end of the first quarter, has appointed Glenn Stevens head of sales and trading and Colin Mitchell chief technology officer. Stevens will manage trading operations and market foreign exchange products to institutional clients, while Mitchell will be responsible for the development and implementation of IT for trading, risk management and back-office business. Most recently, Stevens was managing director, head of north American sales and trading at Natwest Bank. Mitchell was previously head of IT and executive director at Westdeutsche Landesbank Girozentrale.
The Chicago Mercantile Exchanges e-mini Nasdaq 100 and e-mini S&P 500 futures contracts reached record volume highs last week. The E-mini Nasdaq 100 volume was up 18% to over 23,000; the E-mini S&P 500 volume hit 79,730, up 3% over its previous record.
Dean Farbush has been named managing director for the Nasdaq Third Market, a dealer venue for electronic trading of exchange-listed stocks. Farbush was previously senior vice president of the NASD and director of strategic planning. Michael Edleson has been promoted to fill Farbushs post as senior vice president and NASD chief economist. Edleson moves up from running the NASDs economic research division.
The International Securities Exchange, the proposed first fully electronic options exchange in the U.S., announced that Bank of America Securities, a subsidiary of Bank of America Corporation, will be the exchanges tenth primary market maker. The ISE also named 28 additional competitive market markers. Pending approval by the SEC as a registered national securities exchange, the ISE will be the first new registered securities exchange in 27 years.
Javelin Technologies, a provider of FIX solutions, has appointed Michael Chaladoff chief financial officer. Chaladoff was previously CFO of Avatar Investors Associates Group, and has also served as director of financial planning and analysis for Paramount Pictures Corp.