December 9, 2010 / 5:34 PM / 9 years ago

UPDATE 1-Getco lands NYSE's options head in hiring spree

* Edward Boyle to join in the new year

* Another high-profile hire as Getco increases staff (Adds NYSE Euronext replacements)

By Jonathan Spicer

NEW YORK, Dec 9 (Reuters) - Getco LLC hired the New York Stock Exchange parent company’s director of options to spearhead its relationships with global exchanges, the big market maker and high-frequency trader said on Thursday.

Edward Boyle, NYSE Euronext’s NYX.N director of U.S. options exchanges, will begin work at Getco early in January. He will join other high-profile names hired by Getco this year including the Securities and Exchange Commission’s Elizabeth King.

Boyle will focus on “relationships with exchanges and trading platforms and business strategy development,” Chicago-based Getco said in a statement.

The move could be a hit to NYSE Euronext’s growing options business, which in the last year has taken a run at the top spot in exchange market share.

Amy Farnstrom and Paul Finnegan will become co-CEOs of the NYSE Arca options exchange, while Steve Cruchfield will remain head of the other Amex exchange, a company spokesman said.

For Getco, which uses rapid-fire trading algorithms in an array of securities, the hire beefs up a staff that recently added King, the associate director of the SEC’s trading and markets division, Jennifer Boneham of the UK’s Financial Services Authority and others.

High-frequency trading has come under scrutiny in the United States and Europe as regulators consider changes to a high-speed marketplace that some see as unfair or unstable.

Boyle joined NYSE Euronext in 2007 from TD Securities, where he was president of equity-derivatives business development. (Reporting by Jonathan Spicer. Editing by Robert MacMillan and Matthew Lewis)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below