Matrix Executions, LLC (“Matrix”), a broker-dealer specializing in trading workflow automation and execution, announced today the hiring of Seth Weber as chief revenue officer (CRO). Weber is based in the New York area and began work at the end of Q2.
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As Matrix’s CRO, Weber is responsible for driving business development and coordinating Matrix’s product offering to best meet the needs of today’s market participants. Weber’s knowledge of market structure and client relationships are essential additions as Matrix expands its operations amid a period of growth that saw its share of OCC volume triple year-over-year.
Weber joins from INTL FCStone, where he was head of electronic sales and trading. Weber’s 30 years of industry experience developing technology with the buy and sell sides includes 20 years at Barclays and Lehman Brothers managing equity businesses and related infrastructure teams.
“With Seth’s background, Matrix is primed to further grow its already extensive footprint in options deeper into equities, while continuing to enhance clients’ overall trading experiences,” said Matrix CEO Tony Saliba. “Seth’s reputation and industry network make him the best equipped to anticipate clients’ concerns and help us deliver the necessary solutions.”
Weber’s hiring comes on the heels of a number of successful Matrix initiatives and product updates. When Cboe, NYSE, and Nasdaq options floors closed due to COVID-19, Matrix was able to rapidly onboard and support many of those displaced floor brokers while exposing them to functionality not available via their prior operations. During the same period, Matrix onboarded its first client onto its ultra-low-latency direct market access offering, which covers all 16 U.S. options exchanges; deployed two flavors of customized crossing algos, with more in the delivery pipeline; and consistently increased the number of retail client accounts.
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