TradeZero onboards Ila Jehl, Colette Rex to lead its clearing business

abdelaziz Fathi

New York-based online broker-dealer, TradeZero has secured the services of Ila Jehl III and Colette Rex as the CEO and COO, respectively, of its soon-to-be-launched securities clearing business.

TradeZero

Mr. Jehl comes over to TradeZero from China-based online broker Futu Holdings, where he was the CEO of its clearing business. He has been a mainstay in the clearing and brokerage industry, working at multiple firms. During his lengthy career, he helped in launching and managing many domestic operations of many US brokers.

Prior to Futu, Jehl was founder and CEO of MB Trading in London and Canada. Other stops include founding the registered investment advisor KIP Partners, and also served as CEO of TradeOptimizer Group Inc., which managed the technology and algorithm systems for KIP Management. Additionally, Jehl held a senior position with clearing firm Penson Worldwide for 12 years.

Meanwhile, Ms. Rex will take on the role of chief operating officer. She brings nearly four decades of experience to the role, mostly spent in the financial services industry with a particular focus on clearing and brokerage operations.

Most recently, she held an analogous role at Futu Clearing and also served as the EVP of Operations at Axos Clearing. Prior to that, Rex was an operations manager with Morgan Stanley and Grandview Group. Her career encompasses different roles at AXA Advisors, LLC, The MONY Group and the Pershing division of BNY Mellon Bank.

Commenting on the new hires, Daniel Pipitone, the CEO and co-founder of TradeZero, said: “Ila and Colette have tremendous experience in the securities clearing space. They have successfully launched and managed several clearing businesses, and we’re fortunate to have them on board to launch our self-clearing division. Self-clearing should enable us to provide new service opportunities for our customers, create new revenue opportunities, reduce costs, and increase margins.”

The new appointments come hot on the heels of TradeZero’s plans to go public through a merger with a blank-check firm in a deal that values the combined entity at $556 million.

The new company will be called TradeZero Global Inc. upon the closing of the business combination with Dune Acquisition Corp (NASDAQ: DUNE) and is expected to be listed on the New York Stock Exchange under a new ticker symbol, “TRAD”.

This was the latest example of online trading brokers catching the boom of special purpose acquisition companies (SPACs). The most notable example was eToro and US SPAC Fintech Acquisition in a deal that values the social investment platform at a massive $10.4 billion.

Read this next

Retail FX

Overcharts partners with dxFeed for CME Group Market Depth

“More and more traders are using Market Depth while conducting volume analysis. Its primary function is to help traders identify potential support and resistance levels.”

Digital Assets

CoinGecko expands collaboration with CER.live security rating

CoinGecko, one of the earliest crypto data aggregators, has integrated the security score data from the CER.live rating. The trust assessments given to crypto projects will be integrated into their pages on CoinGecko website to draw users’ attention to the importance of security.

Metaverse Gaming NFT

Klaytn taps Parity Technologies to build infrastructure for Klaytn-Substrate

Klaytn has initiated a collaboration with blockchain infrastructure company Parity Technologies to strengthen its tech stack and meet the demands of enterprises looking to harness the crypto technology.

Retail FX

US Retail FX brokers suffer steep fall in client deposits, Trading.com racked up $46K

Retail FX deposits at US brokerages, which have been struggling to eke out a profit in a strict regulatory environment, dropped in March 2022 by $35 million, CFTC data showed.

Retail FX

eToro supports Immutable X (IMX), Livepeer (LPT) and Cartesi (CTSI)

Israeli social trading network eToro has added support for trading three new tokens. Immutable X (IMX), Livepeer (LPT) and Cartesi (CTSI) are the next coins to join eToro’s list of featured digital assets.

Executive Moves

LiquidityBook hires Fintech veteran Jonathan Cross to lead EMEA business

LiquidityBook, a provider of FIX and OMS trading solutions for both the buy and sell-side, has added Jonathan Cross to its business team for the EMEA region.

Retail FX

Interactive Brokers’ traders now have direct access to TradingView

Professional charting and trading platform, TradingView has integrated the US-listed brokerage firm Interactive Brokers as the latest online trading partner.

Digital Assets

This Web3 infrastructure provider is on the verge of a radical upgrade

The crypto industry fueled the anticipation of the arrival of web3 with the introduction of Decentralized Finance, Metaverse, and more. And today, that web3 is finding support from various developers looking to build and develop the space to extract the most benefits out of it.

Digital Assets

Crypto bots: trading assistant 

The cryptocurrency market is a volatile one, with huge gains and dramatic dips. However, the most informed traders can use automated tools to maximize profits while minimizing risks. 

<