nyuuzyou/wikis huggingface dataset:
Thesys Technologies

Thesys Technologies is a market access technology provider with expertise in high frequency trading. Thesys is a subsidiary of Tradeworx, a proprietary trading firm. 
Thesys Technologies' has a subsidiary, Thesys CAT LLC, which was created to develop, implement and manage the Securities Exchange Commission's (SEC) Consolidated Audit Trail. 
== History ==
Thesys Technologies was spun out of Tradeworx in 2009. Over the course of the 2000s, Tradeworx expenditures on developing its own trading technology continued to grow. Thesys Technologies represents Tradeworx's effort to monetize that technological spend. The initial offering from Thesys was trading APIs for HFTs. 
Thesys' first big deal was with Bank of America Merill Lynch in 2011 when the company inked a deal to provide market access and risk control technologies. Through that partnership Thesys' technologies touch some 6 percent of daily equities trades in the U.S. and 15 percent of daily equity trades in Canada. 
In 2012, the firm built the SEC's Market Information Data Analytics System (MIDAS), an important experience for Thesys when it went into the bidding process for the CAT, as MIDAS represented a similar big data issue and involved the SEC. MIDAS allows users to analyze and view an individual equity's order book by aggregating multiple exchange data feeds. 
Thesys then branched into exchange technology, building matching engines for Level ATS in 2013 and Convergex in 2014. 
===The CAT===
The SEC's CAT is a byproduct of 2010's flash crash as regulators realized they needed a way to monitor and track all trading activity. It was left to the relevant exchanges, referred to as self-regulatory organizations (SROs) in CAT documentation, to come up with the general plan. By the end of 2014 a plan was in place and Thesys, along with 30 other companies, entered the bidding process. 
Thesys was a thought leader during the bidding process, insisting the CAT have three essential pillars: ensure CAT is easy to report into; incorporate the best analytical tools and bring its security to the next level. 
Thesys won the right to build and implement the CAT in May 2017, beating out the likes of FIS, FINRA and Thomson Reuters. 
== Products and Services ==
Thesys provides ultra low latency quotes, market access technology, co-located trading, and a host of business services. 
== Key People ==
*Mike Beller, CEO 
*Arzhang Kamarei, Managing Partner
*Thaddeus Covert, Chief Technology Officer
== References ==
Category:High Frequency Trading
Category:ISVs
Theta

Theta, also known as time decay, represents the rate at which an option's value decreases as it approaches its expiration date. This decay can significantly hurt options traders, particularly those holding long positions (i.e., buyers of options). Theta is generally expressed as a negative number. Here's how theta impacts options trading:
Erosion of Premium: As time passes, the extrinsic value of an option (the portion of the option's price that is not intrinsic value) diminishes. For long option holders, this means the premium paid for the option will erode over time, even if the underlying asset's price remains unchanged. This can result in losses even if the anticipated price movement occurs later than expected.
Accelerated Decay: Theta decay is not linear; it accelerates as the option nears expiration. This means that the closer the option gets to its expiration date, the faster its value decreases. For example, an option with 30 days to expiration will lose value more quickly in the last 10 days than it did in the first 20 days.
Impact on Strategy: Traders who buy options need to be aware of theta's impact and may need to factor in the cost of time decay when planning their trades. Conversely, theta can benefit option sellers (those who write options) as they collect premiums that decay over time.
Market Movements: Even if the underlying asset moves in the expected direction, the option might not gain as much value as anticipated if significant time decay has occurred. This can be particularly detrimental in the case of options with short timeframes to expiration.
== References ==
Category:Options
Category:Greeks
Thibaut de Roux

__NOTOC__ 
Thibaut de Roux is global head of Structured Rates and Equity Products with HSBC Bank Plc. He also serves as a member of the board of directors of the International Swaps and Derivatives Association. 
== Background ==
== Education ==
== References ==
Category:Bios - Executives
Category:ISDA Board of Directors Members
Category:HSBC Bank Plc
Thierry Francq

__NOTOC__ 
Thierry Francq was appointed on March 1, 2009 to the position of secretary general of the Autorite des Marches Financiers. 
 
== Background ==
In 1988, Francq became director of the external bureau of the Forecasting Directorate of the French Ministry for the Economy, Industry and Employment. In 1992, he joined the Treasury where he served as deputy head of the Housing Financing Division. In 1995, he became the head of the division responsible for French policy vis-a-vis the International Monetary Fund and international financial system and for the preparation of G7 summits. 
Francq then served as deputy director of the Treasury responsible for insurance regulation and as deputy director of the French Government Shareholding Agency before becoming assistant secretary at the Treasury and Economic Policy Directorate General. 
== Education ==
 
Francq is a graduate of the Ecole Polytechnique and the Paris Graduate School of Economics, Statistics and Finance.
== References ==
Category:Bios - Executives
Category:Exchange Executives
Category:Executives - Autorite des Marches Financiers
Thinkorswim Group Inc.

Thinkorswim Group Inc. was a Chicago-based options brokerage firm. It held roughly $2.6 billion in client assets. 
TD Ameritrade Holding Corp. (AMTD.O) bought Thinkorswim Group Inc. (SWIM.O) in 2009 for $606 million in order to establish an options and futures trading arm. 
The stock and cash deal gave shareholders of thinkorswim 0.3980 of a TD Ameritrade share plus $3.34 in cash for each of their shares. TD Ameritrade management said on a conference call that it expected the deal to boost fiscal 2010 earnings by 3 percent to 7 percent, and by 10 percent to 15 percent after thinkorswim was fully integrated. The deal was expected to yield $55 million in cost savings. 
== History ==
In February 2007, Investools merged with thinkorswim, and in June 2008, the group adopted the name of its brokerage subsidiary, thinkorswim, for its corporate identity, changing the listed holding company's name from Investools, Inc. to Thinkorswim Group Inc.
== Products and Services ==
== Key People ==
The key people at Thinkorswim included:
*Joel Blom, CEO 
*Tom Sosnoff, Co-Founder 
*Don Roberts, Managing Director
*Scott Sheridan, Founder
*Kristine Ross, CFO
== References ==
Category:Brokerages
Category:TD Ameritrade
Category:Equities Brokerages
Category:Futures Brokerages
Third-party custodian

In an investment fund such as a mutual fund, hedge fund or commodity pool, a third party custodian acts as an intermediary between the investment adviser (or fund manager) and the client. Under this approach, the fund manager or adviser never handles client checks, deposits or withdrawals directly. 
In a typical third-party arrangement, assets are held at an institution (the "custodian bank") " in either a separate account or an omnibus master account controlled by the entity providing the custodial service.
 
Services offered by a custodian typically include settlement of trades, investment of cash balances as directed, collection of income, processing of corporate actions, pricing of securities positions, and the providing of recordkeeping and reporting services. 
==Video: Third-Party Custodians==
Third-Party Custodians: Here, Hold On To This
Futures customers are still wondering just how their money can stay protected in the case of a default by their broker. While some solutions are still in the concept stage, others are available right now. Horizon Cash Management’s Michael Markowitz explains the third-party custodian model, whereby customers set up and manage excess margin at a bank outside the brokerage firm. Third-party custodial arrangements are available now and could be one way to restore customer confidence.
In this video, a simple animation and interview with Markowitz help explain the third-party custodian model. Watch at JohnLothianNews.com
== References ==
Thomas (Tom) Joseph Price

__NOTOC__ 
Thomas (Tom) Joseph Price has been non-executive director of NSX Ltd since November 17, 2009. He is an executive director of the Financial & Energy Exchange Limited (FEX), a director of the Australian Market licensed interest rate and currency swap market operator Mercari Pty Ltd, and a strategy advisor on the environmental product development joint venture between FEX, Macquarie Capital Group and Climate Exchange plc (Envex). 
In his role at FEX, he is responsible for the overall implementation of operational technology and regulatory infrastructure for business development.
== Background ==
Previously, he was an Australian based derivative asset manager and consultant with more than 15 years experience in derivatives.
== Education ==
Price holds a Bachelor of Arts degree from Macquarie University.
== References ==
Thomas A. Frank

__NOTOC__ 
Thomas A. Frank has been executive vice president and chief information officer for Interactive Brokers since 1999, where he has focused on building tools to make trading simpler, visual and automated. 
Frank served on the board of the OCC from 2015 to 2024 and was a member of the risk committee and the technology committee.
== Background ==
Frank joined Timber Hill Inc. in 1985 where he was in charge of software development for automated pricing, risk management and trading systems. He pioneered the adoption of hand-held computers on trading floors, fully electronic trading systems and the delivery of high end trading tools to a broad spectrum of traders and investors.
== Education ==
Frank has an S.B. degree and a Ph.D. in physics from Massachusetts Institute of Technology.
== References ==
Category:OCC Board of Directors Members - Former Members
Thomas A. Kloet

__NOTOC__
Thomas A. Kloet is a long-time financial industry executive and the former chief executive officer of TMX Group Ltd. (TMX), the parent company of the Toronto Stock Exchange, the Toronto Venture Exchange, the Montréal Exchange, NGX and the TSX Venture Exchange. He became CEO of TMX Group Inc., the predecessor of TMX Group Ltd., in June 2008 and continued in the role after the company was acquired by the consortium of 13 financial institutions and pension funds known as the Maple Group Acquisition Corp. in 2012. He stepped down as CEO in October 2014. 
Kloet helped oversee the expansion of TMX Group, including the addition of new offices in London, New York, Sydney and Beijing and a more than doubling of its number of international companies listed. He also oversaw the attempt at a billion-dollar merger with the London Stock Exchange that was thwarted by the Maple Group after a long takeover battle.
From 2000-02, Kloet served as the chief executive officer and executive director for the Singapore Exchange Limited (SGX).
Kloet was elected to Nasdaq's board of directors as a non-executive director in March 2015. Also in 2015, Kloet was inducted into the Futures Industry Association's Futures Hall of Fame, which was established in 2005 to commemorate outstanding contributions to the global futures and options community. 
==Background==
Prior to his position at SGX, Kloet served on the board of directors for the Chicago Mercantile Exchange (CME) and the Chicago Stock Exchange. At the CME, Kloet was a three-term board treasurer and was a member of the Chicago Mercantile Exchange Executive Committee chairing its clearing house; finance, political action, budget and planning; and benefits and compensation committees. He also vice-chaired the strategic planning committee, which created the demutualization plan for the CME. 
Kloet was previously senior executive vice-president and chief operating officer of Fimat USA Inc. - now part of Newedge - and an FCM representative on the board of directors of National Futures Association. Kloet is a former member of NFA's Appeals Committee and Finance Committee. 
He also served as the chairman of the working group of the World Federation of Exchanges.
While chief executive officer of Singapore Exchange Ltd. Kloet oversaw the integration of the country's stock and monetary markets and the initial public offering of Singapore Exchange shares.
He has also managed derivatives businesses at international brokerages.
==Education==
Kloet is a graduate of the University of Iowa.
==Registration Information==
*
==References==
Category:NFA Board of Directors - Former Members
Category:NFA Appeals Committee - Former Members
Category:NFA Finance Committee - Former Members
Category:Bios - Executives
Category: Exchange CEOs
Category:Futures Hall of Fame Members
Category:World Federation of Exchanges Board Member
Category:Chicago Mercantile Exchange
Category:Chicago Stock Exchange
Category:TMX Group
Category:SGX - Former Employees
Category:Fimat
Category:Fimat - Former Employees
Thomas A. Wittman

__NOTOC__ 
 
Thomas A. Wittman leads Nasdaq's Global Trading and Market Services and serves as CEO of the Nasdaq Stock Markets. Nasdaq announced he will retire at the end of 2019. He is executive advisor at Nasdaq, as of July 1, 2019, handing his prior roles over to Tal Cohen.
He was appointed executive vice president, global head of equities at Nasdaq in May 2014. He also served on the board of directors of the Options Clearing Corporation, the central clearing organization for the U. S. options industry. He joined the OCC board in September 2016, replacing Gary Katz, former CEO of ISE, which Nasdaq acquired earlier in 2016.
== Background ==
Wittman was previously senior vice president of NASDAQ OMX and head of U.S. equities, which is part of NASDAQ OMX Group’s U.S. Transaction Services business. In that role he was responsible for the management and operations of NASDAQ OMX's three U.S. equities markets, three U.S. options markets, and the futures market. He stepped into that role in June 2013, after serving for five years as head of U.S. options. 
Wittman became president of NASDAQ OMX PHLX in July of 2008 when the NASDAQ OMX Group took over the Philadelphia Stock Exchange. In this role, he managed the NASDAQ OMX PHLX operation and oversaw the day to day responsibilities for both PHLX and NOM markets.
Wittman was formerly Senior Vice President of The Philadelphia Stock Exchange (PHLX) responsible for managing the development of software and services for the exchange. In this capacity he supported the electronic equity trading business, equity options business, PBOT futures business and the surveillance and back office systems that support those businesses. He was responsible for leading a team in transitioning the PHLX options business from a floor based specialist system to an electronic/hybrid system.
== JLN Options Newsletter Interview ==
Wittman spoke with JLN Options editor Sarah Rudolph about Nasdaq OMX’s growth strategies, new products, and the Qualified Contingent Cross. Published April 20, 2011. Read the interview.
== MarketsWiki Interview at FIA EXPO 2010 ==
MarketsWiki Editor Jessica Titlebaum interviews Tom Wittman, President of NASDAQ OMX, at FIA Expo 2010. Published November 10, 2010.
== Education ==
Wittman received a Bachelor of Science degree in Computer Science from Slippery Rock University of Pennsylvania. 
== References ==	
Category:Bios - Executives
Category:Exchange CEOs
Category:NASDAQ OMX
Category:NASDAQ OMX PHLX
Thomas Ascher

__NOTOC__
Tom Ascher is a financial markets professional who has served in leadership positions at U.S. options exchanges as a member and employee.
He is the executive chairman of the board of Quantitative Brokers, a technology company that offers advanced algorithms and data-driven analytics to clients in the futures and US Cash Treasury markets. He was named to that role in December 2017. 
He was the chief strategy officer and head of the corporate initiatives division of International Securities Exchange from 2005 until the exchange was acquired by Nasdaq in June 2016. In that role, he was responsible for identifying, analyzing and instituting businesses that may provide ISE with growth opportunities. The corporate initiatives division managed ISE’s new business development, including strategic planning. In his role at ISE, Ascher also served as a director at Hanweck Associates, where he led ISE's investment in that firm. 
From 2013 to 2016, he also served as president and CEO at the pari-mutuel software firm Longitude LLC. 
== Background ==
Before joining ISE, Ascher served as CEO of Nasdaq-Liffe Markets (NQLX), one of two single stock futures exchanges. 
Before NQLX Ascher served as an executive vice president of Interactive Brokers LLC, part of the Interactive Brokers Group LLC. He was a member of Interactive Brokers’ steering committee and oversaw the company’s initiative to offer options linkage. 
He also has worked as an options market maker at the Chicago Board Options Exchange, where he served as vice chairman of the Board, and chairman of the Executive Committee.
Additionally, Ascher served on the Options Clearing Corporation nominating committee (2001-2002), was a trustee on the Cincinnati Stock Exchange (1997-2001), and a member and committee chairman of the Economic Club of Chicago.
Before 1986, Ascher was with the Pillsbury Company in New York, where he traded spot and forward cash market commodities from 1984 to 1986.
== Education ==
He is a graduate of Carleton College in Minnesota. Ascher also attended University de Pau, Pau, France.
==MarketsWiki Education==
Ascher participated in the MarketsWiki Education World of Opportunity series in New York at Nasdaq in July of 2017.
== References ==	
Category:International Securities Exchange
Category:MarketsWiki Page of the Day
Category:Former Exchange CEOs
Category:NQLX - Former Employees
Category:NQLX
Category:CBOE
Category:Interactive Brokers Group
Category:Interactive Brokers - Former Employees
Category:ISE - Former Employees
Category:MarketsWiki Education World of Opportunity Speaker
Thomas Bakas

Thomas Bakas is a futures industry regulatory and compliance professional. He is a managing principal of RPM Financial Markets Group in Chicago.
Previously, he provided consulting services to the financial services industry. Before that, he was vice president of HedgeStreet, a National Futures Association (NFA)-registered contract market that offers trading in binary options.
== Background ==
Before HedgeStreet, Bakas was managing director for financial market development with the Chicago Board of Trade (CBOT).
Prior to the CBOT, he was in charge of U.S. business development sales for Eurex US and a consultant for several information technology solutions companies. 
He held various positions during the 1990s at Merrill Lynch & Co., both in the institutional futures business unit and the private client group. Early in his career, Bakas was the chief operations officer at Linnco Futures Group, Inc., and held positions as a regulatory auditor. 
== Education ==
Bakas holds a BS in Accountancy from the University of Illinois, Urbana-Champaign.
== References ==	
Category:Bios - Executives
Category:Chicago Board of Trade
Category:Former CBOT Staff
Category:Eurex US - Former Employees
Category:HedgeStreet
Category:Auditors
Category:Consultants
Category:Merrill Lynch - Former Employees
Category:Linnco Futures Group - Former Employees
Thomas Barnett

Thomas O. Barnett is assistant attorney general for anti-trust at the US Department of Justice, assuming the position in February 2006.
As the senior enforcement official for US competition policy, Barnett has overseen the first review of a deal involving a US derivatives exchange - clearing the Chicago Mercantile Exchange's successful bid for the Chicago Board of Trade.
Barnett's division has also triggered controversy in the industry with its call in January 2008 for a review of the practice of allowing futures exchanges - excluding energy-focused operations - to control their own clearinghouses.
== Background ==
Barnett became the anti-trust division's acting assistant attorney general on June 25, 2005 and previously served as the deputy assistant attorney general for civil enforcement, a position occupied since April 18, 2004.
Prior to the DoJ he was a partner in the Washington DC office of Covington & Burling, and clerked for the Hon. Harrison Winter of the US Court of Appeals for the Fourth Circuit.
 
== Education ==
Barnett graduated from Harvard Law School in 1989 and received a Master of Science degree in economics in 1986 from the London School of Economics. He received his BA in 1985 from Yale University.
== References ==
category:Regulators
Category:Lawyers
Category:US Department of Justice
Thomas Bendixen

__NOTOC__
Thomas ("Tom") Bendixen is London-based attorney.
Formerly, he was general counsel at Cinnober Financial Technology, a global provider of financial technology to exchanges and clearinghouses. He joined Cinnober in September 2016 after spending several years as head of cooperations at Eurex/Deutsche Boerse Group.
== Background ==
In 2003, Bendixen joined the International Securities Exchange in New York. In 2006 he was named corporate initiatives officer. In 2009, he was named head of co-operations/partnerships at Eurex, which had previously acquired ISE. While at Eurex, he represented Eurex parent Deutsche Boerse AG in the working commitee of the World Federation of Exchanges. He also served as a member of the supervisory boards of BSE Ltd in India and the GMEX Group in the UK. 
From 2000-2002 he was the CEO of OMX Transaction NA, and from 1995 to 2000 he was the CEO of Swedgiro AB. From 1986-1995 he was corporate legal counsel of OMX AB in Stockholm. 
== Education ==
Bendixen holds a Masters (LLM) degree in Law and Economics from the University of Stockholm and completed the Insead International Executive Program in January 2000.
== References ==	
Category:Bios - Executives
Category:Lawyers
Category:International Securities Exchange
Category:Cinnober - Former Employees
Category:International Securities Exchange - Former Employees
Category:Deutsche Boerse - Former Employees
Category:OMX - Former Employees
Thomas Bill

__NOTOC__
Thomas Bill is the CEO of Orc Software. He joined Orc on Oct. 1, 2006, from Protect Data, a leading data security company, where he was CEO for four years. 
In March of 2012 Orc Group announced that Bill had decided to leave the company after a phase in which he will drive the separation of the Group into three more focused businesses. During that transition period he will serve as acting CEO of Orc until a successor has been found.
== Background ==
Previously, Thomas Bill held a number of senior positions with Front Capital Systems, a provider of software for brokering, trading and risk management. He took over as CEO of Orc from Lars Johnansson, who left in January 2007 after resigning.
== Education ==
He holds a Master of Science degree in Computer Science.
== References ==
Category:Bios - Executives
Thomas Boggs

__NOTOC__ 
Thomas Boggs is the director of equity products for CME Group. Boggs is responsible for developing and executing the company's global equity index options sales strategy. 
== Background ==
Prior to joining the company in 2004, Boggs held options and business development roles for Knight Financial Products, The Pacific Exchange and the Chicago Board Options Exchange. 
== Education ==
He earned a bachelor's degree from Southern Illinois University.
== References ==
Category:CME Group
Category:CME Group