BATS Exchange, an innovative and technology leading U.S. securities exchange, announces the promotion of Joe Bracco to head of US sales and vice president, effective December 1st, 2009.
Mr. Bracco, who joined BATS in February 2008, remains in BATS Exchange’s New York office and will report to Joe Ratterman, CEO of BATS Exchange and BATS Global Markets. He was most recently director, US sales, managing numerous client accounts while also handling all relationships related to the dissemination of BATS market data.
“We are pleased to announce Mr. Bracco’s promotion as we prepare to launch our US options platform and a second US equities exchange in the first half of 2010,” Mr. Ratterman said. “He has become an invaluable member of the BATS team, building client relationships while getting BATS market data on high profile web sites, and we’re excited about the experience and work ethic he brings to this leadership role.”
Prior to joining BATS, Mr. Bracco spent the bulk of his career at Cantor Fitzgerald LLP in New York. During his 22 years at Cantor, he became a partner and senior vice president and was responsible for building, managing and maintaining relationships with large primary dealers, hedge funds, futures trading accounts and regional dealers. His time there included a stint at the Tradespark unit, where he was instrumental in rebuilding and selling the firm’s electronic energy trading platform.
Mr. Bracco is a graduate of St. John’s University, New York, and holds Series 7, 24, 55 and 63 licenses.
Randy Williams, who previously held the leadership roles for both sales and communications within BATS, will be focusing all of his efforts on global communications going forward. He remains in New York as well.
In just four years, BATS Exchange has captured 10% market share in U.S. equities and is planning to launch trading in US equity options, as well as a second US equities platform, in early 2010. BATS Europe, which launched in November 2008 and operates as a pan-European multilateral trading facility (MTF), executes on a daily basis approximately 8% of the FTSE 100 and 3-5% of other major indices such as the CAC 40 and DAX.