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ING Investment Management

ING Investment Management's equities trading operation has gone through a transformation over the past two years since Nanette Buziak, head equity trader, took the helm. When Buziak joined ING, she was charged with consolidating the firm's two trading floors - one in Hartford, Conn., and the other in New York. The result is an eight-seat trading desk and equities investment operation that handles trading for $60 billion in domestic and international equities pictured in this photo gallery. The consolidated floor is located on Park Avenue in Manhattan.



ING Investment Management's eight-seat equities trading desk is based in New York City and led by Nanette Buziak, its head equities trader.


Equities Trading Workstation

Pictured here is onne of ING Investment Management's equities trading workstations. To trade equities, ING users the Charles River order management system (picture left screens) and the trading desk is in the process of upgrading to version 8. The middle left screen shows Reuters data and teh middle right shows Bloomberg. The far right screens show news from Streetaccount, another news and data service. ING's U.S. desk uses They use Reuters and Bloomberg as their main data sources. Equity traders access many dark pools including Liquidnet, Pipeline and Posit for anonymous block trading. As for algorithms, they use ITG's algos as well as algos from most of the major bulge bracket firms.


Equities Trading Workstation

ING upgraded its trading turrets in November deploying IPC's IQ/MAX. "We looked at going strictly with IP (Internet Protocol) technology," says Martin Ratajczak, telecommunications manager at ING Investment Management Americas. "The simplest function they wanted was a caller ID function. MAX provides a caller ID function so the traders are able to scroll and see inbound and outbound telephone numbers," he says. NG upgraded from a 15-year IPC TradeNet system, an entirely analog device


Domestic Equities Trading

This is the domestic side of ING's equities desk, which takes a sectorized approach to trading. Senior Trader Mike Fenske trades financials, industrials and consumer staples (his is the first workstation at left). Senior Trader Peter Walsh (pictured above with a Bloomberg rep) focuses on technology, energy and consumer discretionary. The open seat to the right of Walsh is a workstation that is used to run TCA data and is available for use by others in the investment organization. To the far right is Tom Genkinger, senior trader, who trades healthcare and backs up the international desk.


Domestic Equities Desk

ING Investment Management does not use and execution management system


Domestic Equities Workstation

 


Domestic Equities Workstation


Tom Genkinger, A Senior Trader

Genkinger trades healthcare stocks as well as backs up the international trading desk




Domestic Equities Desk


International Trading Workstations

This side of the floor trades international equities and derivatives. ING's international traders trade stocks in 45 countries for N.Y.-based PMs. The firm operates using a passbook scenario — meaning the N.Y. desk will trade stocks in the N.Y. time zone (such as Latin America and the U.S.) on behalf of ING's portfolio managers in the Hague, the firm's headquarters. International trading shifts are split — the early shift is 4 a.m. to 2 p.m., which is why some of the workstations are empty as these traders had ended their shift.


International Trading Workstations


International Trading Workstations


International Trading Workstations

International traders use FIX to route orders to their brokers. They also use the Charles River Order Management System as well as market data sources Bloomberg and Reuters. ING traders do not use dark pools for international equity trading.


International Trading Workstations

 


Victor Torchia, A Senior International Trader


Compliance Officials

One of the ways ING has set its equities desk apart from others is that it integrates compliance, portfolio management and analysts into the trading floor. Having a compliance officer sit with the traders helps to clear up any compliance issues immediately. The firm's pre-trade compliance doesn't allow a PM to release an order to a trader until it clears compliances, for example. As a result, the compliance officer can resolve these issues as they arise.


Compliance Officials


Around the Desk

Two years ago, when the Hartford trading desk was consolidated with the New York City desk and the floor was reorganized, Head Equity Trader Nanette Buziak decided to keep the whole equities team on the same floor to strengthen communications among them. Thus, portfolio managers, analysts and compliance officers sit in the same room as the traders. She explains, "We need communications on what's driving a trading decision, as that helps us do our job. If we know there is urgency in an order, or there might be news coming out after the close that might affect the stock — if we don't get an immediate hit in natural liquidity, we know we need to get more aggressive."


Around the Desk

Everyone in the equities investment organization is invited to join a trading morning trading meeting — including PMs, analysts, etc. "Everyone has to be knowledgeable of what's going on in the sectors," Head Equity Trader Nanette Buziak says. "We kick off with an international update. Perhaps something has happened that might have a derivative impact on our markets. Then we kick in economic news, drill into each sector and go over key information or news, significant upgrades or downgrades, etc. Lastly, we open it up for comments. Analysts or PMs can comment or talk about any big changes they'll make during the day."



 



















































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