Exegy, a provider of intelligent market data and future-proof trading technology, is planning to roll-out the next generation of its flagship Exegy Ticker Plant appliance, according to the newly appointed CEO David Taylor.
This is the hardware-accelerated, fully managed appliance that put Exegy on the capital markets map and this latest generation will deliver “even better performance and expanded capabilities”, he told Traders Magazine.
It will also power the Axiom feed offering, which is seeing increasing demand, especially from clients looking for an affordable and proven solution for US equity options market data, Taylor added.
“Market coverage for our FPGA-based tick-to-trade solution, nxAccess, will see rapid expansion throughout 2023 in response to strong demand from existing and new customers,” he said.
As the new CEO, Taylor has started by building a “great management team” and aligning them for efficient execution.
The team now represents a blend of long-tenured employees with proven technical leadership and impact, as well as seasoned professionals that bring invaluable expertise and perspective from a broad range of firms, Taylor said.
“Together we have the privilege of leading the finest team of financial technology experts in the world,” he said.
According to Taylor, his job is to ensure that the team stays focused and aligned as they capitalize on the opportunities that they have already identified and to identify the next opportunities for them to deliver differentiated value to their customers in a rapidly evolving marketplace.
“I see the sustained volatility, ballooning volumes of market data, relentless demand for speed, rapid evolution of AI-driven signals, and migration to as-a-Service trading infrastructure as strong tailwinds for our business,” he said.
Dr Taylor brings over 18 years’ experience in delivering low latency trading technology. Prior to being appointed CEO, he served as President, overseeing areas that included product strategy, research and development, sales and marketing, and finance. He holds a doctoral degree in computer engineering and is an inventor on over 75 patents.
In May 2021, Exegy completed a pivotal merger with Vela Trading Systems, backed by Marlin Equity Partners.
Prior to completing that transaction, Marlin Equity Partners and Exegy’s executive team developed a strategic plan to build upon Exegy’s “dominant position in low-latency market data and to grow into the global leader in low-latency trading technology – from tick to signal to trade,” according to Taylor.
“My immediate plan is to stick with the plan,” he stressed.
“We continuously add incremental depth to our strategic plan, but the cardinal direction and foundational pillars are unwavering,” he said.
It provides the framework for disciplined and methodical execution of the firm’s organic and inorganic growth initiatives.
The acquisitions of Vela and Enyx served to accelerate Exegy’s strategic plan, not change it, Taylor noted.
“This will be true of our next acquisition, as well as the product releases that you will see us deliver in the coming months,” he said.
“Our goal is to win in the marketplace,” Taylor said.
“We are committed to our mission of fueling competitive and resilient capital markets by empowering our customers with capabilities that were previously out of their reach,” he added.
“By helping our customers compete and win, we win,” he said.
Former CEO James V. O’Donnell, who has led the company since 2005, announced his retirement, but will remain a member of the Board. O’Donnell has more than 40 years of experience in financial services, including 26 years in executive and board-level positions, and 14 years as Vice President at Goldman Sachs Group.
He was CEO of Bush O’Donnell & Co, where his relationship with Exegy began in 2003, when Bush O’Donnell invested in Exegy as a startup.
At O’Donnell’s helm, Exegy has grown from a computer research project at Washington University in St. Louis to become a vital trading technology partner to some of the largest financial services companies in the world.
Taylor intends his tenure as the new CEO to be marked by growing and successful partnerships with their customers, by sustained nurturing of their culture of curiosity, innovation, and passionate customer service, and by significant growth in the scale and scope of their business.
“We will continue building upon the record sales growth that we achieved in Q4 of 2022. The investments in our go-to-market teams are bearing fruit and the conversations that are having with our clients continue to improve in quality and depth,” he said.
“We are also committed to finding additional acquisitions that align with our strategic plan,” he concluded.
