Getco lands NYSE’s options head in hiring spree

By Reuters
Posted Dec. 9, 2010 at 4:10 p.m.

Chicago-based Getco LLC hired the New York Stock Exchange parent company’s director of options, to spearhead its relationships with global exchanges, the big market maker and high-frequency trader said on Thursday.

Edward Boyle, NYSE Euronext’s director of U.S. options exchanges, will begin work at Getco early in January. He will join other high-profile names hired by Getco this year including the Securities and Exchange Commission’s Elizabeth King.

Boyle will focus on “relationships with exchanges and trading platforms and business strategy development,” Getco said in a statement.

The move means NYSE Euronext has a spot to fill atop its growing options business, which in the last year has taken a run at the top spot in exchange market share.

For Getco, which uses rapid-fire trading algorithms in an array of securities, the hire beefs up a staff that recently added King, the associate director of the SEC’s trading and markets division, Jennifer Boneham of the U.K.’s Financial Services Authority and others.

High-frequency trading has come under scrutiny in the United States and Europe as regulators consider changes to a high-speed marketplace that some see as unfair or unstable.

Boyle joined NYSE Euronext in 2007 from TD Securities, where he was president of equity-derivatives business development.

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