Posts tagged “investment advisers”

N.Y. Pay-To-Play Ringleader Gets Up To Four Years

February 21st, 2011

Andrew Cuomo

Henry Morris, the man at the center of New York’s pay-to-play pension scandal, was sentenced to between 16 months and four years in prison yesterday.

Morris, who pleaded guilty to corruption charges in March, was sent straight to jail by New York State Justice Lewis Stone. Stone called Morris’ scheme of taking kickbacks from investment advisers, including hedge funds, in exchange for allocations from the New York State Common Retirement Fund, “evil.”

“My actions diminished the integrity of New York State’s government,” Morris said at his sentencing. “Most importantly, they caused ordinary people to question their faith in the political system.”

The case against Morris was led by former New York Attorney General Andrew Cuomo, now the state’s governor. His successor, Eric Schneiderman, said, “today’s sentencing decision by the court sends a strong message to New Yorkers that those who abuse positions of power to line their own pockets will be held accountable by this office.”

Morris was the top political consultant under former state Comptroller Alan Hevesi, who resigned after an unrelated scandal and last year pleaded guilty to corruption charges himself. Among the alternative investments firms caught up in the scandal were the Carlyle Group and Riverstone Holdings.

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TradeStation Prime Services Names John Kenealy Vice President of Prime Services Chicago

November 2nd, 2010

TradeStation Prime Services, a division of Tradestation Securities, Inc., is pleased to announce the addition of John Kenealy to its Prime Services team.  Mr. Kenealy will serve as Vice President of TradeStation Prime Services and he will be head of the Chicago office.  John has more than 15 years of sales and brokerage experience; he joined TradeStation Securities in October 2001 as a sales representative and has held several supervisory and management positions. John most recently served as Director of Active Trader Sales for TradeStation. He holds a BS in Management from the State University of New York at Geneseo and the FINRA series 3, 4, 7, 24, 30 and 63 licenses.

“John’s unique background in brokerage sales, as well as his thorough understanding of the TradeStation platform and related trading technology, will complement the Prime Services team.  John will be primarily responsible for developing and servicing Prime brokerage clients in the Chicago area and will help to further refine the overall Prime Services offering,” stated William Katts, co-head of Tradestation Prime Services. “Tradestation is very fortunate that John has chosen to leverage his knowledge and expertise towards this new business line.  We have a growing client base in the Chicago market and continue to expand on the high- touch service we provide our customers,” added Katts.

About TradeStation Prime Services, a division of TradeStation Securities, Inc.

TradeStation Prime Services, a division of TradeStation Securities, Inc., was founded to serve the needs of start-up to mid-sized hedge funds, registered investment advisers, professional traders and asset managers who need quality prime brokerage services, including execution and clearance, securities lending, capital introduction, and “incubation” services.  Clients are offered electronic trading and decision-support platforms, including TradeStation, to analyze their trading strategies and automate or manually place their orders, and may avail themselves of the firm’s NYSE floor membership, which allows it to execute trades on behalf of clients on the NYSE floor as well as in other market centers from its NYSE floor booth/outsourced trading desk. TradeStation Prime Services is located at 400 Madison Avenue, New York, New York.

TradeStation Securities, Inc. (Member NYSE, FINRA, SIPC & NFA) is a licensed, self-clearing securities broker-dealer and a registered omnibus-clearing futures commission merchant, and has memberships or similar approved status (as well as direct connectivity for both market data and order execution) with BATS Z-Exchange, Boston Options Exchange, Chicago Board Options Exchange, Chicago Stock Exchange, EDGA Exchange, EDGX Exchange, International Securities Exchange, NASDAQ OMX BX, NASDAQ OMX PHLX, The NASDAQ Stock Market, NYSE Arca and NYSE Amex.  For futures accounts, TradeStation connects directly (for both market data and order execution) with the CME Group, Eurex Group and ICE Group (U.S. and Europe) exchanges. TradeStation is a clearance member with DTCC and OCC for equities and options, serves its futures accounts on an omnibus clearance basis, and also introduces institutional equities accounts to J. P. Morgan Clearing Corp., as clearance agent.  TradeStation Securities has offices in South Florida, New York, Chicago and Dallas, and an affiliated introducing broker (TradeStation Europe Limited) in London.

For additional information about TradeStation Prime Services, please visit: http://www.tradestationprime.com/. Or contact William Katts 212-847-5951

About TradeStation Group, Inc.

TradeStation Group, Inc. (NASDAQ GS: TRAD), through its principal operating subsidiary, TradeStation Securities, Inc., offers the TradeStation platform to the active trader and certain institutional trader markets. TradeStation is an electronic trading platform that offers state-of-the-art electronic order execution and enables clients to design, test, optimize, monitor and automate their own custom Equities, Options, Futures and Forex trading strategies.  TradeStation Group’s other operating subsidiaries are TradeStation Technologies, Inc. and TradeStation Europe Limited.

Nature of this Announcement

This announcement is made on a limited basis through hedge fund and other institutional trader websites and similar media for promotional/marketing purposes, to educate potential customers of TradeStation Prime Services about its product and service offerings, and is not intended to be an investor relations or public disclosure document for TradeStation’s publicly-traded holding company (TradeStation Group, Inc.).

TradeStation Launches New Brokerage Services Division

July 14th, 2010

TradeStation Headquarters

It used to be that large prime brokers provided one-stop shopping for small to mid-size hedge funds, registered investment advisers, professional traders and asset managers, but that source of services has largely disappeared.  Sensing an opportunity, TradeStation Securities, Inc., a leading electronic brokerage firm for active, professional and certain buy-side institutional traders, today announced the launch of its new TradeStation Prime Services division. TradeStation Prime Services will seek to fill the gap for quality prime brokerage services which are no longer being provided by the larger firms that traditionally served this market segment.

The new division intends to provide a valuable combination of industry-leading execution platforms, including the award-winning TradeStation, reliable clearance and settlement of trades, and first-class service and support, including start-up assistance, outsourced/direct access trading, real-time risk management, portfolio reporting, securities lending, CSA, and capital introductions for its clients. The new division expects to have its first accounts up and running next month.

Also, as the new division grows, TradeStation plans to make valuable enhancements to the TradeStation trading platform that it believes will attract clients to use TradeStation’s trading platform. TradeStation Prime Services plans to serve traders of equities, equity and index options, futures, non-US equities, and forex, making it a powerful solution for institutional traders who seek to trade in any of, or across, those asset classes. TradeStation Securities currently offers the clearing and custody services of J.P. Morgan Clearing Corp. (for equities and options) and R.J. O’Brien & Associates LLC (for futures).

TradeStation Prime Services will be co-headed by Lance Baraker and William Katts, as senior managing directors, both of whom have significant experience running prime services operations in New York. Mr. Baraker and Mr. Katts will run the division from a new TradeStation office in mid-town Manhattan, and will seek to take advantage of TradeStation’s office presences in South Florida, Chicago, Richardson/Dallas, and London to attract new clients. TradeStation will also now have a full membership and direct access operation on the floor of the New York Stock Exchange to accommodate clients who make some of their trades on the NYSE floor.

“We believe that our award-winning trading platform technology, ability to provide custody and clearing, and the strength of our balance sheet will give us a strong offering to the small- to mid-sized hedge funds and investment advisers who need services no longer being provided by the larger firms,” said Salomon Sredni, CEO of TradeStation Group, in a company release.

“This is a market opportunity for TradeStation that did not really exist until recently, and we look forward to maximizing the value we believe we can create by entering this segment of the institutional trader space.”

“We are extremely excited about joining TradeStation,” added Baraker. “The downfall of many financial firms in 2008 has created a rare opportunity for another custodian to enter and succeed in the prime brokerage market. William and I look forward to combining our experience and relationships built over the years with TradeStation’s industry-leading technology to create a leading, powerful prime brokerage platform for the buy-side institutional trader.”

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