Tag Archives: GTS Securities

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GTS and Mischler Financial Group Hold First Annual Fleet Week ‘Veterans in the Workplace’ Luncheon at the NYSE


Working Luncheon will celebrate veterans in the workplace with attendees from notable publicly traded companies

May 16, 2019 10:00 AM Eastern Daylight Time

NEW YORK–(BUSINESS WIRE)–GTS, a leading electronic market maker across global financial instruments and the largest designated market maker at the New York Stock Exchange (“NYSE”), in partnership with veteran-owned broker dealer Mischler Financial Group, will hold the first annual ‘Veterans in the Workplace’ luncheon at the NYSE on May 21, 2019.

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The luncheon will kick off the 31st annual Fleet Week New York, which will take place from May 22-28. Attendees will include veteran C-level executives and employees of publicly listed companies, high-ranking military officials, and student veterans from local New York colleges.

The event is being organized by Mark Otto, Global Markets Commentator for GTS and U.S. Marine Corps combat veteran. Otto also serves as Executive Director of the United War Veterans Council (“UWVC”), which is the organization that produces the New York City Veterans Day Parade.

“I am thrilled to organize the first-ever ‘Veterans in the Workplace’ luncheon at the NYSE to kick off Fleet Week in New York,” Otto said. “This event will be a great opportunity to honor both those who are actively serving as well as veterans who, after serving our country, have rejoined the workforce to serve our capital markets.”

The event will feature three keynote speakers:

  • Dean Chamberlain, CEO of Mischler Financial, West Point graduate and former U.S. Army Officer;
  • Rear Admiral John Mustin, Deputy Commander of the U.S. Second Fleet and Naval Surface Force Atlantic;
  • Jon Scholl, President of the Health Group at Leidos, U.S. Naval Academy graduate and 5-year U.S. Navy veteran; and
  • Diego Rubio, U.S. Army Veteran and Co-founder of Women Veterans on Wall Street (“wVOWS”)

“It is an honor to deliver a keynote address for a unique program that includes fellow military veterans in the workforce,” Chamberlain said. “As the CEO of the industry’s oldest service-disabled veteran-owned business, it is always inspiring to work alongside corporations that provide veterans with opportunities to leverage the skills acquired in the course of their service and provide focused programs to help them successfully transition to new careers.”

In addition to the keynote speakers, the luncheon will provide attendees with a networking opportunity, and will highlight topics including veteran-hiring retention and the different initiatives companies are taking to help veterans.

Approximately forty C-level executives and employees from publicly listed companies such as Wabash National (NSYE: WNC), DHI Group (NYSE: DHX), Leidos (NYSE: LDOS) and Samsung will be in attendance.

Fleet Week is a weeklong celebration of the U.S. military’s sea services and gives the citizens of New York the opportunity to meet and interact with members of the U.S. Navy, U.S. Marine Corps and U.S. Coast Guard. This year, the U.S. Navy expects about 2,600 Sailors, Marines and Coast Guardsmen will be on hand.

About GTS

GTS is a global electronic market maker, powered by combining market expertise with innovative, proprietary technology. As a quantitative trading firm continually building for the future, GTS leverages the latest in artificial intelligence systems and sophisticated pricing models to bring consistency, efficiency, and transparency to today’s financial markets. GTS accounts for 3-6% of daily cash equities volume in the U.S. and trades over 10,000 different instruments globally. GTS is the largest Designated Market Maker (DMM) at the New York Stock Exchange, responsible for nearly $12.5 trillion of market capitalization.

For more information on GTS, please visit www.gtsx.com.

About Mischler Financial Group

Established in 1994, Mischler Financial Group (“Mischler”) is the financial industry’s oldest diversity-certified investment bank and institutional brokerage owned and operated by service-disabled veterans, the firm was the first FINRA member to be designated as a Service-Disabled-Veteran-Business Enterprise (SDVBE). Mischler is recognized for its role as a leading capital markets boutique operating across the primary and secondary financial market ecosystem. The firm serves Fortune corporate treasurers in the course of their issuing new debt and equity offerings and administering their respective corporate share repurchase aka 10b-18 programs. In many initiatives, Mischler is viewed as a pure complement to the role played by issuers’ lead underwriters and also assists state and local governments in selling tax-exempt and taxable municipal securities. Investment management clients of the firm’s secondary market execution platform include a broad spectrum of public plan sponsors and investment fund managers. Mischler also provides cash management for government entities and corporations, and asset management programs for liquid and alternative investment strategies. Mischler maintains offices in 8 major cities and is staffed by more than 50 securities industry veterans.

Visit https://www.mischlerfinancial.com for more information.

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NYSE DMM GTS Securities Buys Cantor’s ETF Market-Making Business

Breaking News: GTS Securities, the NYSE’s biggest specialist firm aka Designated Market Maker (“DMM”) and one of the electronic market-making world’s biggest players in the FX and rates markets is now aiming to become the ETF industry’s biggest market-maker the old-fashioned way, by buying into the space. After several months of speculation and rumors of a pending deal, GTS formally announced today they have acquired the entire team of ETF brokers and traders from Cantor Fitzgerald. According to the press release issued by GTS, the deal to acquire Cantor’s ETF team of approximately 35 ETF sales traders led by ETF industry veteran Reginald Browne is expected to close in February 2019. Terms of the transaction were not disclosed.

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(l)Reginald “ETF Godfather” Browne (r) Ari Rubenstein, co-founder GTS Securities

GTS was established by former NY Merc floor traders Ari Rubenstein and David Lieberman, who looked to Amit Livnat, a top-of-class graduate from the world famous Israel Institute of Technology to serve as the firm’s resident tech wonk. Of the three, Rubenstein is the camera-facing thought-leader, who first cut his teeth in the trading business as a runner on the floor of the New York Mercantile Exchange and later became a floor trader on the New York Cotton Exchange. Aligning with fellow floor trader David Lieberman and Livnat, GTS was first positioned as a quantitative prop trading firm that leveraged in-house trading technology and home-grown algorithms to peel incremental profits by executing tens of thousands of transactions per day across US equities, rates and FX markets. GTS levered its high-frequency trading domain expertise and morphed into its current role as a global trading powerhouse once the firm took control of the NYSE’s biggest specialist firm operated by a unit of Barclays Bank.

“For the first time on a scale never seen before, the most sophisticated Wall Street technology is being deployed for mainstream investors, be they institutional or retail,” said Ari Rubenstein, CEO and co-founder of GTS. “Investors around the world can now leverage the very best in machine learning, artificial intelligence and execution technology to help them save money whenever they trade and invest. This is an unprecedented opportunity for investors that unites unrivaled innovation with pioneering client service – while enhancing the capital raising opportunities for listed companies.”Stacey Cunningham, president of the New York Stock Exchange said, “The NYSE and our partners embody the synthesis of technology and human judgment, leading to the best possible outcome for investors and issuers.”

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For the full press release, click here

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Former NYSE Prez Farley Launches Fintech SPAC IPO

Tom Farley, the former top gun at the NYSE, has long advocated the benefits of raising capital via the construct of Special Purpose Acquisition Company aka “SPAC”, aka “Blank Check company.” Now he’s become the CEO poster boy for SPACs with the formal IPO and NYSE listing of Fintech SPAC Far Point Acquisition Corp., a financial technology-themed acquisition company, which is backed by activist investor and fintech aficiondo Dan Loeb.

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Tom Farley, Far Point Acquisition Corp

42-yearold Farley, a Georgetown University alum and former ICE senior executive and the second youngest person to serve as NYSE President when taking on that role in 2012, will serve as CEO of the ‘fintech buyout’ company. Farley is arguably one of the industry’s most fintech-fluent folks, given his role in helping to transform NYSE into a financial industry trading technology centerpiece.

Farley’s long-held view towards the future is evidenced by the fact  NYSE’s two most dominant designated market-makers aka “DMM” firms, GTS Securities and Virtu Financial are companies that are synonymous with the phrase fintech. Both firms started their journeys as prop trading firms specializing in ‘high-frequency-trading’ and their more recently attained NYSE ‘specialist’ roles are powered by next generation in-house algorithmic trading and artificial intelligence tool kits. GTS Founder Ari Rubenstein, whose NYSE DMM is responsible for maintaining fair and orderly markets in 1200+ companies and who also oversees one of the industry’s most robust, multi-asset liquidity-providing prop trading platforms, is also a founding member of industry trade group Modern Markets Initiative (MMI) 

Back to SPACs- For those who may have missed the multiple memos coming out of the biggest investment banks, the blank check company construct provides a means to create a publicly-traded ‘shell company’, whose use of proceeds is intended to acquire a private company (or companies) and seamlessly “jump the shark” by rolling the private company into the publicly-listed company without bearing the burden of the time and cost that is synonymous with taking a company public via the traditional IPO process.

First introduced in the early 1970’s, blank check companies were soon derided by securities regulators after a string of capital raises by companies that had notoriously little corporate governance, enabled unsupervised CEOs to empty corporate coffers for personal gain, leaving investors with nothing. In the early 1990’s, the construct was re-invented by small-cap investment bank GKN Securities’ founders David Nussbaum, Roger Gladstone and Robert Gladstone, who have been credited with introducing the SPAC construct (along with securing a trademark for SPAC), which is chock full of checks and balances. The GKN leadership team’s early success in floating ‘blank check’ companies led to their creating a new firm, EarlyBirdCapital which has become the thought-leader in SPAC offerings, as the SPAC template has since been emulated by the financial industry’s leading investment banks and endorsed by major exchanges across the globe.

In the past 10 years alone, tens of dozens of capital raises via the SPAC construct have delivered billions of dollars of dry powder for designated acquisition companies that have since effected tens of billions of dollars worth of ‘quick IPOs’ for companies in nearly every industry sector, including the cannabis industry,

Fintech industry veteran and startup industry consultant Jay Berkman, who coincidentally helped GKN introduce their first SPACs to institutional investors back in 1993, and now serves on the advisory boards of fintech merchant bank SenaHill Partners and investor document consultancy Prospectus.com LLC said, “Far Point Acquisition may not be the first Fintech SPAC, but its launch clearly reinforces a compelling approach to raising capital for the purpose of bringing established private companies into the publicly-traded ecosystem.”

Via video clip below, former NYSE top gun Tom Farley expresses his views on the SPAC construct and the fintech sector, and provides a glimpse at the prospective target acquisitions that Farley will be aiming for.

If you’ve got a hot insider tip, a bright idea, or if you’d like to get visibility for your brand through MarketsMuse via subliminal content marketing, advertorial, blatant shout-out, spotlight article, news release etc., please reach out to our Senior Editor via cmo@marketsmuse.com.

Former NYSE president announces IPO for ‘blank check company’ from CNBC.

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