Liquidnet, an institutional trading and equities network, has onboarded a managing director and veteran trading engineer from Goldman Sachs to take on the role of its new Head of Equities Technology.
has lured Sujay Telang, who served for over 15 years with the US investment bank leading the technical development of its trading systems, algorithms, and quantitative analytics for cash equities and listed options products.
Most recently, Telang was Goldman Sachs’ managing director and head of Americas electronic trading engineering. He originally joined the bank in 2004 in the department responsible for the design of automated trading strategies and systems, with a focus on electronic trading, automation of traders’ workflows, and risk management.
According to his , Sujay had the unique opportunity to work on three generations of electronic trading platforms over a 10-year period. He also led an overhaul of this product twice over seven years.
“Sujay will play an instrumental role in taking that legacy forward, ensuring that we continue to deliver the AI and data-driven innovations that our Members have come to expect from us. He’s a proven leader in every facet of electronic trading, and we’re excited to have him guide the future of our equities technology,” said Liquidnet CTO Patrick Strobel.
Telang will help develop the firm’s equity trading platform
Telang joins following a career in the financial services industry that has spanned over two decades. He started his journey as a software engineer with Cisco Systems.
In his new role, he will lead the development of Liquidnet’s equity trading platform and the creation of data-driven offerings, namely in algorithmic trading. He will also help Liquidnet’s Fixed Income and Investment Analytics businesses in integration and client support fields.
Telang lands at as the fixed income market is undergoing dramatic changes, as the applicability of electronic trading across the sector has been much slower than the equity and forex markets. In the best case, it is still largely limited to the most liquid parts of the market.
Since launching in September 2015, Liquidnet’s community of fixed income asset managers has grown to 200 active firms, around 70 of which are in Europe, who have traded some 17,000 different ISINs to date. This growth has been fueled by members’ ability to trade in institutional size, with an average execution of $2.4 million.