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James (Jim) Hyde, Head of Business Development and Strategic Partnerships for NYSE Markets, was recently appointed as the new Chair of the Security Traders Association (STA).
Hyde is the former Vice Chairman of the American Stock Exchange Board and Senior Supervisory Officer on the Trading Floor. As a Floor Governor, he chaired numerous Exchange operating committees and was appointed as Chairman of the Amex Technology Committee.
Traders Magazine caught up with Hyde to learn more about his involvement with the STA and his plans as the new Chair.
Congratulations on your new role. To start, please tell us about your career to date and your current role and responsibilities at the NYSE?
I began my career in the options market at the American Stock Exchange, where I spent over two decades in various roles including Vice Chairman and Senior Supervisory Officer on the trading floor as well as founder of TAHOE Trading, a market making trading firm. I held the only seat on the board dedicated to the options business, and as a floor governor, I chaired several different operating committees focused on our markets and technology. I was also a registered options trader for Integral Derivatives, served as board member and headed the options and ETF businesses at Kellogg Group, building the company into one of the top-tier options specialists on Amex. In 2008, Amex became part of the NYSE under the name NYSE American. As Vice Chairman of Amex at that time, I helped ensure Amex’s successful transition to the NYSE for the equity, ETF and options businesses.
In my current role as Head of Business Development and Strategic Partnerships for NYSE Markets, I support and interact with the exchange’s various business lines, including regulatory, legal, marketing and technology, among others. Spending most of my career in options, I have been working at the intersection where technology and people come together to produce real market innovation. That has never been more present than in my current role, where I am focused on identifying and shaping strategic opportunities that will help drive growth and innovation across the NYSE’s trading businesses, leveraging the strengths of our parent company ICE. It has been an eventful journey to say the least, and one that has always been focused on building more efficient, functional markets for all.
How long have you been involved in STA? You were previously STANY President, please tell us more.
Since the early days of my career, I’ve been involved in STA and its NY affiliate, STANY, in varying capacities. I joined STANY at the recommendation of my senior colleagues, and I quickly understood the immense opportunities it provided: shoring up my industry knowledge, deepening relationships with clients and partners, and making friendships that would prove to last my entire career. It takes a village to run a grassroots organization like STANY, so I steadily became more involved over the years, and when my name came up as the choice for its President in 2021, it was important to me to make a lasting mark. Working closely with STANY staff and my fellow board members, I prioritized giving back to worthy charities while maintaining a focus on timely, impactful industry-focused content.
As with many STA members, my leadership role at the affiliate level was a natural gateway to becoming more involved at the national level. That’s how I landed in my new role as 2024 Chair, and I couldn’t be more excited for what’s next.
What do you see as the role of the STA in the industry? What is its purpose / mission?
I’ve always been impressed by the sheer number of ways that STA serves the industry, but it boils down to a few core pillars. First, we advocate on behalf of the securities industry and the individuals who comprise our membership, particularly before regulators and legislators in Washington, D.C. That often takes the form of holding meetings and writing comment letters. Second, we communicate relevant information to and educate our members on the implications of market structure reforms, with our advisory committees playing a key role. Finally, we place a heavy emphasis on giving back, with our local affiliates working tirelessly to spotlight and fundraise for worthy causes in their local areas.
What are your thoughts on becoming STA Chair? What do you want to do to move the needle forward?
I’m humbled to be named STA Chair for 2024 – it’s a tremendous honor, and not one that I take lightly. My top priority will be helping our members and their firms navigate the rapid pace of regulation of our markets. The SEC has proposed some sweeping changes, from equity market structure reforms to short selling to predictive data analytics. With so many proposed changes, it is more important than ever to ensure everyone is on the same page. I also want to continue STA’s longstanding focus on giving back and am in active discussions with our affiliates on how to best support their efforts. Additionally, STA’s 2024 Annual Market Structure Conference will be held in Orlando for the first time, and I’m excited to do everything I can to help make that event a success.
What should we know about you personally?
Family means everything to me. My wife and I have two grown kids, who are my pride and joy, and I grew up with the love and support of four siblings. In addition, I am active in many industry-associated charitable efforts and am looking to further support victims of domestic violence. In fact, when I was introduced as STA Chair at our October conference, I wore a purple jacket onstage in solidarity with this important cause and in recognition of National Domestic Violence Awareness Month.
Is there anything you would like to add?
One of my favorite parts of STA is that it is an organization of individuals serving individuals. We never lose sight of the human nature of our mission – so I encourage anyone reading this to come to one of STA’s events or any of the many great affiliate outings throughout the year in wonderful locations. I also invite anyone to call me and share their thought-leadership ideas to help advance the industry. This industry will always be a relationship-driven business, and I am proud of how our organization helps foster these critical relationships. I advise you to keep your customers close to every business decision and drive change with their inputs at all crossings in your professional career.
