Senior Management Changes at BGC Partners

Institutional interbank broker BGC has hired Paul Reidy as head of brokerage technology in New York, according to market sources.

Reidy moved to the firm from his COO role at CboeFX Global Markets, where he managed teams responsible for technology and operations on the CboeFX platform. Cboe confirmed Reidy’s departure.

Earlier in his career, Reidy was Head of FX Technology at BATS and worked as a Managing Director at Knight Capital Group, where he managed market structure and Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term for HotspotFX.

BATS acquired HotspotFX from Knight Capital Group in May 2015 for $365 million.

Reidy led the extraction of the platform, and the team of 40 from KCG to BATS.

His career began in 2001 in Fixed Income Electronic Trading at Bloomberg.

Hirschhorn leaves BGC

Eric Hirschhorn, CIO at BGC Partners, has left the company last month, the sources said. He had joined the firm from Bank of America in 2014, where he was Global Head of Rates and FICC e-Trading Technology.

After over a decade at Chase Manhattan and Hanover Trust, he joined Lehman Brothers in 2000, where he spent six years at the firm, holding roles as Global Head of FX e-Trading Technology and North American Head of Fixed Income e-Trading Technology.

In 2006 he joined Citi, where he held various positions, including Global Head of FX Technology.

Hirschorn served as CTO of Fixed Income at Morgan Stanley before moving to Bank of America.

Weinberg promoted at Cboe

Meanwhile, at Cboe, Jonathan Weinberg was promoted to Head of FX this month. He was Global Head of FX Sales, Product, and Liquidity Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Read this Term at the firm before. Prior to this, he held senior roles at BNP Paribas, Morgan Stanley, KCG, and UBS earlier in his career.