Jessica Froats, Head of Relationship Management, NYSE, tells Traders Magazine about the importance of data and the importance of the Women in Finance Advisory Board.
Earlier this year, you took on a new role at the NYSE as Head of Relationship Management. What does this entail?
I am responsible for the distribution of the New York Stock Exchange trading and market data products and the organization of sales activities to promote these products and our brand. Our five equities and two options exchanges are renowned for the quality of our markets and the liquidity they provide, including the iconic New York Stock Exchange, whose unique blend of human oversight and technology sets it apart from all other global stock markets. My responsibilities across these markets include working closely with all internal businesses from technology to legal as well as the exchanges themselves to successfully engage and provide the best possible service to our clients. We are the front line for our client base within the equities and options trading and exchange data industry.
Unifying sales activities across multiple business lines is no small feat. How do you work across teams to ensure alignment?
Communication, communication, communication. Though there are many different groups within the NYSE transaction world, we all act as one team, relying heavily on one another and working in solidarity from idea generation to implementation. I consider this team to be the best in the business, with individuals who have built entire careers in our markets and bring a remarkable wealth of knowledge and relationships to their work every day.
You have spent a majority of your career in market data. What is your view on the importance of data as it relates to your current position within the transactions business?
Data drives informed trading decisions, a fact that the NYSE and our parent company, Intercontinental Exchange, understand extraordinarily well. ICE is a global leader in the development of market data products across asset classes, laser-focused on the needs of our customers. My team and I provide data products to the middle, back and front office stakeholders who often play a part in making trading decisions. Whether it be real time order book data on our various exchanges, end of day/reference data, or client execution quality/performance data, one thing remains the same – data gives insight and knowledge into the markets and our clients’ performance.
What are your top priorities for your team moving into next year?
In 2024, my team will remain focused on expanded customer engagement; specifically promoting new floor technology for an improved trading experience, providing new ways to trade with retail and continuing to work closely with clients to build performance enhancing trading products and analytics. We’ll also have a heavy focus on expanding US equities and options trading internationally and collaborating with our ICE colleagues on data sales.
You’re on the Women in Finance Advisory Board, providing insight on the shortlist and winners for this year’s awards. Tell us about the importance of this list and recognizing the achievements of the women nominated?
The career trajectory for women in finance has certainly improved over the last decade, in large part due to the women who remain in our industry and continue to climb the ladder. The NYSE, for example, has numerous women in leadership positions – starting with our President, Lynn Martin, and our Chair, Sharon Bowen – serving as a source of inspiration to female colleagues at earlier stages of their careers.
As an industry, we still have work to do to further increase female representation at all levels. Organizations that support and celebrate exemplary women such as Women in Finance, motivate and inspire future nominees and sparks new female involvement and representation within our industry committees. This also leads to events that focus on growing women’s careers such as workshops, leadership panels, speaking engagements, and an overall wider reach to the next generation of female leaders.
