Elk Capital Markets, a prominent high-frequency trading firm based in New York, has recently strengthened its leadership team with the appointment of industry veteran Steve Reich as the Chief Operating Officer.
Although Reich assumed this pivotal role last year, the public announcement was made only yesterday.
Steve Reich, in a recent LinkedIn post, expressed his enthusiasm about the new opportunity, stating, “I started my career as a trader, and it’s tremendously exciting for me to leverage both trading and tech-building skills to foster Elk’s continued growth in terms of expertise, creative, cutting-edge strategies, market presence, and ultimately individual and team performance and profitability.”
With approximately 35 years of professional experience in the trading sector, Steve Reich brings a wealth of knowledge to Elk Capital Markets. His career includes stints at several renowned financial services companies.
Most recently, he joined Elk Capital Markets from Hudson River Trading, where he was a valuable member of the Digital Asset team from January 2022 to May 2023.
Reich’s journey in the finance industry began in 1988 when he started as an FX trader at Credit Suisse (now part of UBS). Over seven years, he rose through the ranks to become the VP Senior Dealer.
Subsequently, he joined HSBC as the Chief Dealer for Foreign Exchange, followed by a three-year tenure as a Managing Director at Barclays Capital.
Reich further made his mark in the forex industry by co-founding Hotspot FX, which is now known as Cboe FX and a part of Cboe Global Markets.
Afterward, he served as the CEO of FX Bridge for a couple of years.
Notably, Reich held the position of Head of FX and Commodities at New York-based GTS from September 2013 to November 2019 and served as the Chief Revenue Officer for Pivot Technologies at the CME Group.
In closing, Steve Reich expressed his gratitude to his former colleagues at Hudson River Trading for their collaboration in building a successful crypto trading business.
He looks forward to leveraging his extensive network and expertise as he embarks on this new chapter with Elk Capital Markets.
His appointment as Chief Operating Officer is expected to contribute significantly to the firm’s continued growth and success in the dynamic world of high-frequency trading.