NEW YORK--(BUSINESS WIRE)--Arxis Capital Group LLC (“Arxis”), a technology-focused automated market maker and liquidity partner, today announced Joseph Ricciardi has joined as a partner and head of Client Trading and Sales. He will play a key development role as Arxis continues to position itself as a next generation technology leader among market makers. Joe will be mandated with building the sales and trading team that will service retail broker’s execution across both automated and non-automated channels.
Joseph was previously Head of Model Driven Trading (MDT) at KCG, where he managed both exchange and over-the-counter trading operations. Joe ran a significant business at KCG with leading profitability and market share for over two decades. He joined KCG on the first day of trading in 1995.
“Joseph is one of the few remaining traders who has watched the business evolve from a manual operation to a predominantly automated process,” said Gene Reilly, Chief Executive Officer at Arxis. “In his 26 year career, he has earned a reputation as one of the most trusted traders in the retail broker-dealer community, recognizing that technology and client service go hand-in-hand. We’re excited he’s our partner to develop a premier trading platform across the entire spectrum of the retail broker dealer’s stock execution requirements.”
Joseph is the latest senior addition to Arxis. He follows Jay Dweck, the former Partner of Goldman Sachs, joined Arxis in 2015 as Chief Technology Officer after leaving Morgan Stanley as Head of Strategies & Technology of Institutional Securities.
“Joe is one of the best traders I have known over the last 15 years,” said Len Amoruso, former General Counsel at KCG. “He is poised, disciplined and has an exceptional feel for the market. He is cool under pressure, understands market microstructure extremely well, and leads his team with integrity.”
“There are few traders as well respected as Joe,” said Tom Joyce, Executive Chairman at Arxis. “At KCG, he was a consistent top performer and central to the firm’s success. He joins a powerful team at Arxis that has a vision for how machine learning and algorithms can shape the future of trading in the face of increasing market complexity. I’m confident he will be a valuable partner to current and future clients as the demand for liquidity grows.”
Since inception in 2014, Arxis has grown its work force to over 60 professionals.
About Arxis Capital Group LLC
Arxis Capital Group LLC is an electronic trading firm specializing in the automated market making of global securities. Its goal is to develop and utilize technological innovations that intelligently analyze data in order to deliver liquidity across all asset classes. It is headquartered in New York, with operations in London and Hong Kong. Arxis Capital was formed in 2014 by senior equities trading executives from Bank of America Merrill Lynch's Global Market Making Business.