02 / 26 / 2008
Quadriserv, Inc., a pioneering provider of price transparency and efficiency to the securities lending industry, today announced that it has launched Aquas(tm), a secure, interactive portal that provides an aggregated view of supply and demand to securities lenders, borrowers and market intermediaries. Aquas(tm), which was developed by veterans from the prime brokerage and securities lending industries, offers the following key features:
"Like most over-the-counter products, securities lending is characterized by fragmented pools of liquidity, lack of market structure, and processing inefficiencies," stated Joseph Weinhoffer, Quadriserv's Founder and Chief Executive Officer. "Aquas(tm)' true innovation is its ability to address these shortcomings by aggregating the many disparate supply and demand sources, and providing lenders and borrowers with the data they need to assess the fair market value of their transactions. This is a critical step towards the realization of a true securities lending marketplace, the development of which remains a key corporate objective."
"Hedge funds and beneficial owners alike are focused as never before on realizing the intrinsic value of their securities lending operations -- an effort that has historically been stymied by a lack of accessible data and opaque market dynamics," added Quadriserv's Co-Founder Gregory W. DePetris. "Aquas(tm) addresses these shortcomings by allowing lenders to interact with a broader universe of borrowers, and in the process better measure the value of their securities.
Similarly, borrowers are able to interact with a diverse universe of lenders, allowing them to be better informed and manage their equity finance businesses more profitably. We are delighted with the initial market reception to Aquas(tm), and look forward to advancing its development."
11 / 15 / 2007
Quadriserv Inc., a pioneering provider of price transparency and efficiency to the securities lending industry, today announced that it has appointed Martin Doyle to the newly-created positions of General Counsel of Quadriserv Inc. and President of Quadriserv Brokerage Services. Mr. Doyle joins Quadriserv from OneChicago, the nation's only security futures exchange, where he most recently served as President and General Counsel. As General Counsel of Quadriserv Inc., Doyle will focus on legal, regulatory and compliance issues. In his capacity as President of Quadriserv Brokerage Services, Doyle will leverage his expertise to implement, and execute equity-linked derivatives trading strategies on behalf of the Company's institutional clients. In both roles, Mr. Doyle will report directly to Joe Weinhoffer, Quadriserv's Founder and Chief Executive Officer.
Quadriserv is responding aggressively to the demand from hedge funds and institutional lenders for a more efficient, cost-effective and transparent securities lending process, Mr. Weinhoffer stated. As a result, we have greatly expanded the number of hedge fund customers and related counter-parties with whom we conduct securities lending transactions growth which has created the corresponding need to enhance our senior leadership with dedicated legal and regulatory expertise. We are thrilled that Marty is joining us as General Counsel to oversee this important aspect of our business, and believe that his proven operational, transactional and executive leadership will play an integral part in our ongoing growth.
As the immediate past president of OneChicago, Marty also brings extensive futures and options experience to the job of President of Quadriserv Brokerage Services, Mr. Weinhoffer continued. In this capacity, Marty will lead the effort to grow our brokerage services, with a particular emphasis on single stock futures. We see substantial opportunity in this area, and believe Marty will prove instrumental to the future success of our brokerage business.
I am honored to be joining Quadriserv's senior leadership team, whose experience and commitment have been instrumental in achieving first-mover advantage in the evolving security futures and lending marketplace, Mr. Doyle added. The Company has attracted impressive support from hedge funds seeking to achieve operational alpha. With new product innovations coming on-line over the next several months, I am looking forward to Quadriserv's continued expansion of its customer base while sustaining profitable growth.
Doyle has been involved in financial services since 1983. Prior to his tenure at OneChicago, Doyle was Vice President and General Counsel of Lind-Waldock, which was the world's largest futures discount firm until it was acquired by Refco, LLC in 2000.
Doyle serves on NFA's Hearing Committee and as an NFA arbitrator. He earned a Bachelor of Arts degree from St. Mary's University and a Juris Doctor from John Marshall Law School.
05 / 30 / 2007
NEW YORK, May 30, 2007 (PRIME NEWSWIRE) -- Quadriserv Inc., a pioneering provider of price transparency and efficiency to the securities lending industry, today announced that it has significantly strengthened its core securities lending business with the addition of Bruce C. Turner, who will join the Company as Chief Operating Officer. Mr. Turner will report directly to Co-Founder and Chief Executive Officer Joseph Weinhoffer, and will oversee operations, sales, and business development for all aspects of Quadriserv's securities lending initiatives
During his 20-year career in the securities industry, Turner has distinguished himself by overseeing the design and implementation of multiple new trading products. As an Executive Vice President at Nasdaq, Turner played a lead role in the final development and marketing of the SuperMontage project, an advanced order display and execution system that facilitates a faster, more informed trading market. More recently, Turner served as co-head of the US Equity Division at CIBC World Markets, where he developed new trading products to combat declining commission margins and was responsible for all domestic operations of CIBC's research, sales, trading and equity capital markets.
"Bruce is the ideal hire for Quadriserv as we enter a new growth phase," stated Mr. Weinhoffer. "He brings a proven track record of successfully implementing new trading technologies and driving top-line growth -- attributes that are essential elements to Quadriserv's future success. We look forward to Bruce's leadership role in expanding our customer base, overseeing implementation processes, and growing the organization."
"We are also pleased that Bruce brings substantial managerial experience through his tenure serving on CIBC's US Management Committee, as well as his management of large trading desks. These skills will be of particular relevance to Quadriserv as we continue to build out our own corporate team and aggressively pursue growth," Mr. Weinhoffer concluded.
"Technology is driving inevitable changes in the equities execution marketplace, resulting in margin compression, demands for more transparency and unbundling," Mr. Turner added. "This trend is also impacting the securities lending industry where hedge funds and institutional lenders are seeking performance optimization through cost effective, transparent means of executing securities lending transactions.
"Quadriserv is on the leading edge of serving this new market, and the positive reception from existing customers gives me great confidence in the Company's potential. I look forward to working with the experienced industry veterans who comprise the Quadriserv management team, and to helping the Company execute its vision."
Mr. Turner brings diverse equity markets experience to Quadriserv over a 20-year career, with increasing levels of responsibility. Prior to his role as co-head of CIBC's Equities Division, Turner was a Managing Director and Head of CIBC's US Equity Trading and Sales trading, where he was responsible for the day to day operation of a 150-person sales and trading desk while overseeing development of electronic and program trading. Previously, Mr. Turner was an Executive Vice President at Nasdaq, responsible for final development of the SuperMontage Project, as well as marketing strategy and materials. Earlier in his career, Mr. Turner was a Managing Director and Head of Nasdaq Trading at Salomon Smith Barney, where he was responsible for a 125-person sales and trading desk, as well as the development of new trading products.
Turner holds a BA from Connecticut College (1987) and will receive an EMBA from the Trium Global program, a joint degree from New York University, The London School of Economics, and HEC Paris. He was a member of the Nasdaq Quality of Markets Committee, the NYSE Upstairs Traders Advisory Committee, and is currently a member of the National Organization of Investment Professionals.
04 / 16 / 2007
NEW YORK, April 16, 2007 (PRIME NEWSWIRE) -- Quadriserv, Inc., a pioneering provider of price transparency and efficiency to the securities lending industry, announced today that Peter Borish and John H. Eley, two veteran financial services executives, have been added to the Company's Board of Directors. The Company also announced that George Kledaras, who serves as CEO of Kledaras Technologies, will depart the Board while continuing as an advisor to the Company. This move enables George to devote additional time to his involvement in other ventures, specifically FixML Flyer and Cecil Rep.
Mr. Borish's experience includes more than 20 years managing and overseeing complex market structures. He is currently Chairman and CEO of Computer Trading Corporation (CTC), a multi-strategy hedge fund managing assets in the derivative markets using Mr. Borish's own proprietary trading and risk management models. He is also active in the futures industry, where he is currently a special advisor to the Board of Directors of the Chicago Board of Trade, as well as the Chairman of the Institute for Financial Markets.
Mr. Eley is also a 20-year veteran of the financial services and technology business, spanning both regulated and unregulated financial markets. He has a particular interest in market structure issues, and has co-developed three innovative financial marketplaces -- the Cantor Exchange, OnExchange and Hotspot FX.
Joseph Weinhoffer, Co-founder and CEO of Quadriserv, stated, "The addition of Messrs. Borish and Eley to Quadriserv's Board will add tremendous value to our business, and we welcome them to the team. They both possess a strong track record in bringing innovative financial technologies to market -- experience that will serve Quadriserv well as we continue the rollout of our transparent and efficient securities lending technologies. Separately, we want to thank George for his contributions as a Director to Quadriserv and look forward to him acting as an advisor to our Company in the future."
In addition to his current role as Chairman and CEO of CTC, Mr. Borish was Senior Managing Director and then Chairman of the Board of Directors of OneChicago, LLC, The Security Futures Exchange from 2001 through 2006. Previously, Mr. Borish led a team of researchers, traders and systems developers at Tudor Investment Corporation, where he was a founding partner. He was also previously employed at the Federal Reserve Bank of New York. Mr. Borish is a founding member of the Board of Directors of the Robin Hood Foundation and Math for America Foundation, and holds a master's degree in Public Policy from the Gerald R. Ford School for Public Policy Studies at the University of Michigan, where he also earned a B.A.
Mr. Eley's additional experience includes leadership of Hotspot FX, Inc., the leading foreign exchange market, where he was President and CEO from October 2002 through July 2006. Hotspot was subsequently sold to Knight Capital Group. Prior to joining Hotspot, Mr. Eley was the CFO of OnExchange, an innovative provider of software to the futures industry. Mr. Eley has also held senior trading, portfolio management, IT, business development, risk management and investor relations positions at Cantor Fitzgerald/eSpeed and Citibank, both domestically and overseas.
01 / 03 / 2007
NEW YORK, NY – January 3, 2007 – Quadriserv Inc., a pioneering provider of price transparency and efficiency to the securities lending industry, today announced the appointment of Rick Geisman to the newly-created position of Head of Business Development. In this capacity, Geisman will implement and oversee all aspects of sales and business development for hedge fund and institutional managers.
Geisman, who most recently held the position as Head of Sales Trading for CIBC World Markets, brings to Quadriserv 13 years of sell side industry expertise. His experience includes senior positions in U.S. and Canadian equity trading, technology and connectivity issues, equity research, customer relationship management and equity capital markets.
“We believe Quadriserv offers the most innovative and efficient means of executing securities lending transactions to hedge funds, pension plans, and other institutional parties,” stated Joseph Weinhoffer, co-founder and chief executive officer of Quadriserv. “Our progress capturing opportunities in this $10 Billion revenue market has been notable, and Rick brings the experience, industry knowledge, and industry contacts to accelerate our revenue growth. We are delighted he has joined Quadriserv as Head of Sales, and look forward to his leadership as our Company continues to grow.”
“The securities lending industry is ripe for change, and Quadriserv has the management team, process technology, and knowledge to lead the way,” said Mr. Geisman. “I chose Quadriserv because of its first-mover advantage in this market, and look forward to building and leading a knowledgeable and committed sales force to grow Quadriserv’s revenue and expand its customer base.”
As Head of Sales Trading for CIBC World Markets, Geisman was responsible for the oversight of sales traders in New York, Boston, San Francisco and London. He was involved in the administration of research, account management and equity capital markets allocations. Prior to this experience, Geisman was Co-Head of U.S. Equity Trading at CIBC World Markets, where he was responsible for all aspects of Listed and Nasdaq block trading. Previously, Geisman held positions assisting in the rebuilding process at Sandler O’Neill and Partners after September 11th, 2001, and Citigroup/Smith Barney as a sector head in the financial institutions group within U.S. Equities.
Geisman holds a B.A. in Business Management from Boston University 1993.