By Tom Steinert-Threlkeld, Securities Technology Monitor
9 July 2012
Steve Rubinow joined FX Alliance in April, after roughly five years with NYSE Euronext and 11 with it and an electronic trading network it acquired.
Thomson Reuters announced this morning that it was acquiring FX Alliance, aka FXall, for $22 a share or $625 million.
At the time of his departure from NYSE Euronext, he was Executive Vice President and Chief Information Officer and was responsible for most technology endeavors at the company. This included the buildout of new data centers and trading technology around the globe.
Prior to joining NYSE Euronext, Mr. Rubinow was Chief Technology Officer of Archipelago Holdings, Inc, before its merger with the NYSE in 2006. Earlier, Mr. Rubinow was a Vice President at Fidelity Investments where he developed and deployed an enterprise Information Architecture, critical systems for use in the mutual fund investment area and evaluated new companies as potential candidates for investment by Fidelity Ventures.
“I basically got tired” at NYSE, he said at the turn of the month at a CIO Summit Auckland, New Zealand.
Joining FX Alliance in April got him into a $4 trillion a day currency trading market.
Foreign exchange, he noted, is a “highly fragmented and lightly regulated” industry.
“It’s kinda sorta where the equities markets were a decade ago,” he said.
Which means his experience will give him, he believes, a leg up for a replay of the kind of changes in FX that first came to stocks.