Pipeline Trading Systems LLC, operator of the Pipeline block electronic trading marketplace, announced that Michael Hayes, formerly with buy-side order management systems provider Charles River Development in Boston, joined the company as VP and executive director of client services.Hayes, 43, was global director, electronic connectivity and strategic alliances and a member of the CRD management team for four years. His previous experience includes sales and marketing roles in several technology companies and time spent as a division officer on a nuclear-powered submarine in the U.S. Navy.
"After working with virtually all of the major electronic service providers over the last several years, I believe Pipeline offers something truly unique," Hayes said in the release. Hayes said he looks forward "to building a client services group that helps every institutional trader maximize the benefits of Pipeline's anonymous block marketplace."
Pipeline set a new record in August, executing over 396 million shares, and experienced an average daily volume of 17.2 million shares, a 136 percent increase over August of last year. More than 400 firms have joined the alternative trading system, including 24 of the top 25 institutional managers and mutual funds, according to the Sept. 5 release. Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio