Isaacson a Perfect Fit for New-Look CBOE
The soon-to-be head of tech for CBOE has all the necessary qualities.
The process of putting together our cover stories, in which we profile a C-level executive at an end-user firm, is often months in the making. High-level technology executives don’t necessarily have a ton of free time, and when they do, spending it talking to journalists isn’t their main priority.
Most of the time, setting up interviews months in advance is never an issue. Firms don’t tend to make drastic changes on a whim, and there is usually enough lead-up time to give us a chance to follow up with the subject if something at their firm changes dramatically.
However, every once and awhile something momentous happens that wasn’t anticipated.
That was the case on Sept. 26, when CBOE Holdings announced it had acquired Bats Global Markets. The news was obviously big for the industry, but also directly impacted our upcoming profile of Chris Isaacson, Bats’ global CIO, who, it was announced, would be named the CIO of CBOE Holdings following the closing of the deal.
I knew the news meant I’d need to set up a follow-up interview with Isaacson for the story, which I did, but I wasn’t worried about my story, which you can find here. To be honest, it seemed like a natural progression for him in his career. He was, in my eyes, the best candidate for the job.
Granted, all of these feats individually might not necessarily guarantee someone will be a strong candidate. However, the combination of them creates a well-rounded individual who understands the ins and outs of a firm he’s helped build for over a decade.
Well-Rounded
For starters, what makes Isaacson the right pick for leading the CBOE-Bats migration comes down to his background. It’s not that one thing stands out above the rest. It’s more the sum of the different experiences he’s had.
Isaacson holds an undergraduate degree in computer science along with an MBA. And while that certainly doesn’t make him unique, it does show his understanding of the importance of knowing the business side in addition to technology. The same goes for the seven different Series licenses he’s earned. Isaacson is also one of Bats’ founding employees, and gained significant experience early in his career working directly with customers while managing the trade desk.
Granted, all of these feats individually might not necessarily guarantee someone will be a strong candidate. However, the combination of them creates a well-rounded individual who understands the ins and outs of a firm he’s helped build for over a decade.
He’s also someone who simply loves to take charge. It’s been a characteristic of Isaacson for a while. He talked about how, while getting his MBA, he spent a lot of time working on projects for industry people where he was building and delivering software.
“I just loved it,” Isaacson says. “I just liked to lead people. I liked to lead projects. And I liked technology.”
Accomplishments
If that wasn’t enough to convince you, there is Isaacson’s resume of accomplishments. Facts are facts, and successful integrations of Chi-X Europe, Direct Edge and, most recently, BZX Options, all show he knows his way around a big project.
Perhaps, though, even more importantly is Bats’ failure of its initial public offering (IPO) in 2012. It’s easy to look good when things are running smoothly, but how a person reacts when things turn sour is even more important.
Isaacson showed his resiliency, and added some to the exchange, by overcoming the initial disaster to have a successful IPO this year. While many might have crumbled under the pressure, he showed his ability to learn from his mistakes, readjust and try again.
“The humility that was learned there has driven us to greater excellence and engineering,” Isaacson says. “Also, a healthy respect and fear that things can go wrong and therefore you engineer them in such a way so that they fail gracefully.”
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
Waters Wrap: The changing definition and perception of blockchain
Anthony says that questions of definition and perception are killing DLT projects in the capital markets—oh, and a lack of proven implementations.
This Week: IPC extends Google Cloud partnership, BlackRock/AIA, DTCC and more
A summary of the latest financial technology news.
Waters Wavelength Podcast: Deutsche Bank’s Boon-Hiong Chan
Boon-Hiong Chan from Deutsche Bank joins the podcast to talk about blockchain interoperability.
SocGen pushes data, analytics use cases for SG Markets
The bank is letting a handful of clients experiment with its proprietary data and models to inform their research.
Ace high or busted flush? Digital Asset’s mixed fortunes mirror DLT adversity
The vendor hoped to remodel post-trade using blockchain technology—and it still might—but its bumpy progress raises questions over the future of DLT in finance.
AI could cut time for money laundering checks by 99%
Leading crypto exchange rolling out large language model for enhanced due diligence checks.
Standard Chartered keeps faith with quantum experimentation
The bank is aiming to future-proof itself with the ability to adopt new technology at an early stage.
Waters Wrap: CME, Google and the pursuit of ultra-low-latency trading
CME Group and Google have announced Aurora, Illinois, as the location for the exchange’s new co-location facility. Anthony explains why this is more than just the next phase of the two companies’ originally announced project.