Bradley Katsuyama
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Brad Katsuyama is the president and CEO of IEX Group, as well as a co-founder. He has more than 13 years of experience in the securities trading industry.[1][2][3][4][5] Institutional Investor named him as one of the 2014 Trading Technology 40.[6] Background[edit]Before co-founding IEX in 2012, Katsuyama spent 12 years at RBC Capital Markets, most recently as global head of electronic sales and trading. In that role, he was responsible for multiple global teams including: electronic sales, electronic trading, algorithmic trading, market structure strategy, client implementation and product management. His prior management roles at RBC were head of U.S. cash equity trading, head of U.S. hedge fund coverage, and head of U.S. technology trading.[7] He started out at RBC in 2001 as a program trader. Katsuyama led the effort at RBC to improve their stock trading business. Using a team he hired from banks and high speed trading firms, he aimed to look at ways equities market structure was putting investors at a disadvantage. The first issue his team addressed was traders having difficulty getting their trades executed at exchanges that were geographically closer to RBC. The team discovered traders at exchanges that were farther away had speed advantages that allowed them to cancel orders on one exchange and raise the price on other exchanges. This had the impact of raising the average price RBC customers paid for executing equity buy orders. As a result of this discovery, the team created a trading program called Thor, which slowed down the speed that orders hit exchanges to synchronize them so that high speed traders could not take advantage of this information.[8] Katsuyama and his team were profiled in author Michael Lewis' book "Flash Boys: A Wall Street Revolt." The book was previewed on the U.S. television program 60 minutes, including several segments with Katsuyama.[9] On June 17, 2014, he testified before the Senate Permanent Subcommittee on Investigations about potential conflicts of interest in high frequency trading.[10] Although in a previous television interview he had referred to the markets as "rigged," he stepped back somewhat from that assessment in the hearing, saying that although "...investors are systematically disadvantaged in the way that markets have been set up,” "the investment process is not broken." [11] Education[edit]In 2001, Katsuyama earned a BBA in finance from Wilfrid Laurier University, Waterloo, Ontario. References[edit]
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