Peter Nabicht

From MarketsWiki
Jump to: navigation, search
TT 300x60 - 2016.jpg
Peter Nabicht
PeterNabicht.jpg
Occupation Head of Electronic Market Development at Dealerweb
Employer Tradeweb
Location Chicago
LinkedIn Profile

Peter Nabicht is head of electronic market development at Dealerweb, Tradeweb's inter-dealer division. He's held that position since summer 2017.

He is the former president and COO of 12Sided Technology, a fintech firm specializing in data capture and analytics.[1] He co-founded the startup in 2016.

Background

Nabicht is a financial industry consultant specializing in automated and high-frequency trading.[2] Before co-founding 12Sided in 2016, Nabicht served as senior policy advisor for the Modern Markets Initiative, a Washington, DC-based advocacy and education group for quantitative trading firms.[3] after a 10-year stint at proprietary trading group Allston Trading. Before joining Allston in early 2004, Nabicht had experiences in all technical aspects of the company. In his first two years he started the automation of back office processes and built a state of the art real-time operations desk that supported trading activities across all asset classes on 30+ endpoints.

After being the technical lead on the money market, fixed income and energy desks, Nabicht was promoted to CTO of Allston Trading in September of 2008. [4]

Also before joining Allston, Nabicht was a member of Emerging Technology Lab. He was also a programmer for the Center for Urban Research and Learning.[5]

Education

Nabicht holds a bachelor of arts degree in English Language and Literature/Letters from Loyola University of Chicago. He also holds a masters of science in computer science from Loyola of Chicago.

MarketsWiki Education Video, July 2016

Peter Nabicht, 12Sided Technology – The Implied Job Descriptions in Finance

“Markets are an ultra-complex socio-technical system. That is a thing; Google it. There are three examples regularly given of such systems – huge cities, the space shuttle program, and financial markets. That’s how complex and interconnected we are.”

Have you ever lost a million dollars in 4 ½ seconds? Neither have we. Peter Nabicht, however, once wrote an algorithmic trading program that did exactly that, when one of his teammates misplaced a decimal on a minor tweak to the algo. Though the blame could have easily gone to Nabicht and/or one his colleagues, none of them was fired over the incident. Why? For one, though the tuition was steep, each received a valuable education from the incident. Plus, each team member accepted responsibility for the actions, meaning none tried to say “It’s not my job.”

Nabicht says that in ultra-complex socio-technical systems, as in most not-so-complex systems, the phrase “not my job” should not be part of the lexicon. He says a well functioning marketplace benefits all of us, thus we should share in the responsibility of ensuring well functioning capital markets.

References

  1. Who We Are. 12Sided Technology.
  2. TradeTech Speakers. TradeTech.
  3. High-Speed Traders Form Trade Group to Press Case. WSJ.com.
  4. TradeTech Speakers. TradeTech.
  5. Peter Nabicht. LinkedIn.
float