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Rosenblatt Securities is pleased to announce that it has hired Xiang Li as Vice President, Analytics & Consulting. Li will work on improvements to the firm’s models, as well developing new applications for customers and other technology initiatives, as part of Rosenblatt’s transaction cost analysis (TCA) group, which helps institutional investors boost their returns by identifying and minimizing the complex, often hidden costs associated with buying and selling large quantities of stock. He reports to Scott Burrill, a Partner and Managing Director of the firm who heads its TCA efforts.
Prior to joining Rosenblatt, Li was CFO of Tidetime Group, a Hong Kong-based design and manufacturing concern, and spent a year in the proprietary trading group at Credit Suisse Group in New York. He holds a Ph.D. in Design Optimization and a Certificate in Financial Technology from the Massachusetts Institute of Technology, as well as an MS in Space Science and a BS in Fluid Dynamics from Tsinghua University, Beijing.
“Adding someone with Xiang’s talent and expertise to our team will dramatically improve our TCA offering,” said Burrill, noting that Li is spending much of his time on making the firm’s tools more robust and creating functionality that will let Rosenblatt clients directly access and manipulate pre-trade and post-trade data. “We already take pride in providing institutions with analysis that truly integrates their trading results with the investment process and always suggests concrete, tactical adjustments, rather than simply presenting a pile of data that exists in a vacuum. The work that Xiang is doing will give clients the ability to access our tools directly and take even greater ownership of analyzing and reducing their trading costs.”
Joe Gawronski, President and COO of Rosenblatt Securities, added, “We view transaction cost analysis as central to the firm’s value proposition, so naturally we’re very excited to bring on someone of Xiang’s caliber to propel our TCA efforts forward. It also makes me proud that Xiang is the 3rd Ph.D. we have brought on board in the past year. These moves reflect both the growing complexity of the trading world, which makes high-quality people crucial to success, and the strength of our quantitative capabilities, which were recognized earlier this year with our selection to The Institute for Quantitative Research in Finance, also known as the Q Group.”
About Rosenblatt Securities
Founded in 1979, Rosenblatt Securities is a New York-headquartered, agency-only execution boutique that also has an office in Dublin. The firm represents traditional institutions, quantitative managers and portfolio trading customers in global equity markets both through its trading desk and via direct access to the NYSE floor, a service that it pioneered in the late 1980s. Rosenblatt has been at the forefront of embracing automation to enhance trading efficiency and the self-sufficiency of the buy-side. It was the first firm, more than 15 years ago, to provide non-NYSE members with access to the exchange’s electronic DOT system. Today, it connects customers with a vast array of exchanges and alternative trading platforms, and provides the latest sophisticated algorithmic execution tools. The firm believes that its responsibility lies not only in executing orders that are entrusted to it, but also with helping clients identify the best tools for when they are trading themselves, use appropriately the tools selected, and navigate an increasingly complex equity marketplace. In addition, the firm provides analysis of the exchange and brokerage space to: (i) traders, to help them make strategic and tactical adjustments to their trading approaches based on market structure changes and new product developments and (ii) portfolio managers and analysts to add the unique, expert insights of a practitioner to their investment considerations. More information on the firm’s history and its services, as well as market structure and trading strategy pieces it has written, are available at www.rblt.com.
