BestEx Research taps Paul Merolla as General Counsel

Rick Steves

He has served as General Counsel at institutional broker Instinet Group and was Associate Counsel at Goldman Sachs.

BestEx Research Group has appointed Paul Merolla as General Counsel, based in Stanford, Connecticut.

The provider of algorithmic execution and solutions for equities, futures, and foreign exchange trading has previously appointed Andrew Westhead as Managing Director of Research and Hector Robles as Managing Director of Business Development.

Paul Morolla was General Counsel at Instinet Group

Paul Merolla joins BestEx Research after seven years at the Murphy & McGonigle law firm and nearly four years at the LeClairRyan law firm. His legal career also includes ten years as senior counsel at Drexel Burnham Lambert Group and time as an associate attorney at Shearman & Sterling.

He has served as Executive Vice President and General Counsel at institutional broker Instinet Group Incorporated, then acquired by Japanese banking giant Nomura. He was also Vice President and Associate Counsel at Goldman Sachs.

Morolla, who was this year awarded the Alfred J. Rauschman Award for his service and contributions to the financial services industry, is a Past President of the SIFMA Compliance & Legal Society.

Hitesh Mittal, Founder and CEO of BestEx Research, said: “As we continue to expand into new markets and asset classes, Paul’s regulatory and financial services expertise will be invaluable. We are committed to providing our global clients advanced, research-driven algorithmic trading solutions, and having robust legal oversight allows us to best serve their dynamic needs across asset classes and markets.”

Paul Merolla, General Counsel at BestEx Research, commented: “I look forward to supporting and contributing to the continued growth and expansion of BestEx Research. I trust that my knowledge and experience will be valuable assets to Hitesh and his management team as we work to provide BestEx Research’s global client base with leading-edge trading solutions paired with unparalleled transparency.”

BestEx Research Group, LLC was founded in 2017 and offers broker-neutral solutions that combine sophisticated execution algorithms with a user-friendly dashboard and transaction cost analysis for multiple asset classes. The cloud-based solution covers equities, futures, and foreign exchange.

Execution algorithms are capable of reducing trading costs for buy-side managers and providing sell-side firms a seamless trading solution for their clients.


Read this next

Digital Assets

CoinEx fined $2 million in Québec, Canada

“This new decision follows the important decision obtained in earlier this year and is part of the AMF’s offensive against crypto asset trading platforms operating illegally in Québec that have not entered into pre-registration undertakings.”

Industry News

FINRA fines BofA Securities $24 million for spoofing in US Treasuries

BofA Securities failed to detect spoofing due to inadequate supervisory systems. These systems were not equipped to identify manual spoofing by traders.

Retail FX

Belgium regulator blacklists FXP360, Appex Finance, and Wise-Markets

Belgium’s financial watchdog, the Financial Services and Markets Authority ‎‎(FSMA), has issued a warning against the unauthorized activities of multiple ‎ platforms that are offering investments in the country without ‎complying with Belgian financial legislation.‎

Digital Assets

MicroStrategy piles on Bitcoin, acquiring 0.90% of circulating supply

MicroStrategy, the world’s largest Bitcoin corporate holder, has further increased its holdings of the primary cryptocurrency. According to a recent filing, the company acquired an additional 16,130 bitcoins between November 1 and November 29, spending $593.3 million at an average price of $36,785 per bitcoin.

Digital Assets

Paxos gets nod to issue dollar-backed stablecoins in UAE

Stablecoin issuer Paxos has received preliminary approval from Abu Dhabi’s Financial Services Regulatory Authority to issue U.S. dollar-backed virtual currencies and provide crypto-brokerage and custody services.

Digital Assets

Flare Labs Begins Testing FAssets on Coston Testnet Paving Way for Non-Smart Contracts to Flare

Flare Labs has introduced FAssets on the Coston testnet, enabling the integration of non-smart contract tokens like BTC, XRP, and DOGE into the DeFi ecosystem.

Digital Assets

Philippine bars access to Binance, citing unregistered operations

The Philippines’ Securities and Exchange Commission (SEC) is moving to block access to Binance due to regulatory concerns, citing the platform’s operation without proper registration and authorization in the country.

Digital Assets

FTX cleared to sell investments in Grayscale and Bitwise funds

Bankrupt cryptocurrency exchange FTX has received approval from the bankruptcy court to start selling its stakes in digital trusts managed by Grayscale Investments.

Digital Assets

Nexo launches Dual Investment for yield earning and price prediction

“Dual Investment revolutionizes how users engage with BTC and ETH, offering a flexible, intuitive, yet sophisticated platform for predicting asset price movements, all while securing high yields.”