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This profile was last updated on 8/23/15  and contains information from public web pages and contributions from the ZoomInfo community.

Mr. Brad Katsuyama

Wrong Brad Katsuyama?

President and Chief Executive Off...

Phone: (646) ***-****  
Email: b***@***.com
IEX Group, Inc.
7 World Trade Center, 30th Floor
New York , New York 10007
United States

Company Description: IEX provides the opportunity to learn and gain experience, both inside and outside your domain of expertise. Different than most proprietary trading or large...   more
Background

Employment History

Board Memberships and Affiliations

Education

  • Bachelor of Business Administration , Finance and Economics
    Wilfrid Laurier University
175 Total References
Web References
Brad Katsuyama's Next ...
www.bloomberg.com, 23 Aug 2015 [cached]
Brad Katsuyama's Next Chapter His once tiny dark pool got a big boost from Flash Boys.
...
Brad Katsuyama, CEO and co-founder of IEX in New York
Brad Katsuyama never thought he'd be famous.
Not even famous-for-Wall-Street famous. He was Canadian, for heaven's sake. He'd worked at Royal Bank of Canada, not Goldman Sachs or JPMorgan. He was running a startup-and not one that made anything you could download from the App Store. So even after Michael Lewis interviewed him for Flash Boys, even after Lewis flew to Toronto to talk to his parents and high school friends, even after he discovered Lewis had actually made him-Brad Katsuyama-the book's hero, even after the 60 Minutes camera crew showed up … even then, Katsuyama says, he didn't quite grasp what was about to happen. "I thought I could kind of blend in," he says between spoonfuls of granola and yogurt at a lower Manhattan restaurant.
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When Katsuyama was a senior trader at Royal Bank of Canada, he found that he was increasingly unable to execute orders at the prices and volumes his trading screens indicated were available. He came to see high-frequency trading, public stock exchanges, and the fragmented nature of the U.S. markets as the culprits: High-frequency traders could use their superior speed to take advantage of what's called latency arbitrage, exploiting minuscule differences in the time it takes various markets and traders to receive data and execute orders.
...
Katsuyama and the small group who joined him in founding IEX Group took on high-frequency trading, or HFT, with a cleverly engineered speed bump that slows down all incoming orders just enough to defeat most latency arbitrage strategies. But what IEX is really marketing is something less tangible and more fundamental: a fairer market. Katsuyama says the fragmented market structure in the U.S. is riven with conflicts of interest. With trading currently spread over 11 public stock exchanges and more than 40 dark pools (trading venues that don't publish pre-trade prices or volumes), market operators are dependent on HFT firms for liquidity and revenue. To cater to them, the exchanges sell advantages to HFT firms: myriad special-order types, faster data, price rebates, and co-location-the right to put their computers in the same data centers as the exchange's so they can trade even faster.
Katsuyama, who was a tailback on his high school football team, uses a sports analogy to explain his objections. "No one," he says, "is saying the teams have to be equal-just that the referee shouldn't have an interest in the game's outcome.
...
While Katsuyama was right to tackle latency arbitrage, Levine says, "IEX is not the be-all and end-all."
...
Comments like that infuriate Katsuyama, who says Harts and Modern Markets are part of "the giant smoke monster" that spreads confusion through oversimplification, twisting the facts in order to preserve the status quo. "We are trying to talk about calculus, and these guys are trying to say two plus two equals five," he says. The problem, he says, is that the general public knows so little about how stock trading in the U.S. actually works that they can't tell the difference between the nuanced, sophisticated arguments he's advancing and the simplistic untruths he accuses Harts of peddling.
Katsuyama says that despite the perception created by Flash Boys, IEX was never anti-HFT. Rather than labeling some HFT outfits "good" and others "bad," Katsuyama prefers to talk about HFT strategies that are "predatory" versus those that provide "legitimate market making.
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Katsuyama says Virtu engages in legitimate market making-taking the spread by buying at the offer and selling at the bid-and not predatory arbitrage.
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At IEX in Manhattan, Brad Katsuyama, right, poses with Chief Strategy Officer Ronan Ryan, center, and Chief Operating Officer John Schwall, left.
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At IEX in Manhattan, Brad Katsuyama, right, poses with Chief Strategy Officer Ronan Ryan, center, and Chief Operating Officer John Schwall, left.
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Katsuyama believes IEX's speed bump will pass muster, largely because it's designed to create a fairer market. More and more, the SEC has questioned whether fast trading hurts average investors.
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Over breakfast, the silhouette of the new Freedom Tower visible through the window behind him, Katsuyama reflects on his decision to leave banking. He says he was increasingly troubled by the way money on Wall Street bred corruption, encouraging people to make poor ethical decisions. Planning to start a family, he and his wife, Ashley , who grew up in Jacksonville, Florida, had considered leaving New York and Wall Street behind. But first, Katsuyama wanted to try creating IEX. "If this is my last stop on Wall Street," he says, "I'm OK with it. After all, Katsuyama never wanted to be anything other than what he is: a normal guy who thought he could build a better stock exchange.
IEX Group - About Us | A Market That Works For Investors
www.iextrading.com, 20 Aug 2015 [cached]
Brad Katsuyama
President & Chief Executive Officer
Brad has over 13 years of experience in the securities trading industry. Brad was formerly the Global Head of Electronic Sales and Trading at RBC Capital Markets. In this role, he was responsible for multiple global teams including: electronic sales, electronic trading, algorithmic trading, market structure strategy, client implementation and product management. Brad's prior management roles at RBC were Head of US Cash Equity Trading, Head of US Hedge Fund Coverage, and Head of US Technology Trading.
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Brad Katsuyama
President & CEO, IEX
The market rigging story all came ...
whitetopinvestor.com, 28 May 2014 [cached]
The market rigging story all came to light because Brad Katsuyama, a Canadian trader at the Royal Bank of Canada, realized that something had changed in the trading market. He put in the time and resources to precisely identify the details and issues.
And that's because the main witness ...
www.bbc.co.uk, 10 April 2015 [cached]
And that's because the main witness in his book, Brad Katsuyama, a trader at the Royal Bank of Canada, has set up an exchange called IEX which seeks to eliminate "predatory opportunities created by speed".
And to think that trust is ...
magpantay.com, 22 Feb 2015 [cached]
And to think that trust is actually a differentiator in a service business, it's kind of a crazy thought, right? - Brad Katsuyama, President & CEO, IEX on 60 Minutes, March 30, 2014 As...
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