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Bonds.com names Michael Sacks head of technology

20 August 2012  |  2717 views  |  0 Source: Bonds.com

Bonds.com Group (OTC.BB:BDCG, "Bonds.com") announced today that industry veteran Michael Sacks has been named Head of Technology.

Bonds.com's wholly-owned subsidiary, Bonds.com, Inc. ("BCI"), the first and only centralized marketplace for liquidity and execution of open orders in fixed income, leapfrogs current systems. With the appointment of Mr. Sacks, Bonds.com is poised to assure that its technology rises to the scale of the growth opportunities available in client segments and asset classes. Mr. Sacks has a breadth and depth of expertise and experience in industry development to lead and meet this challenge.

Prior to joining Bonds.com Mr. Sacks held senior positions in technology for financial services. He was Head of Application Development and QA at MarketAxess. At Morgan Stanley he served in a series of positions including: Global Head of Bond Technology; Chief Operating Officer of Fixed Income Technology; And Global Head of Foreign Exchange Technology. He began his career at IBM Research and moved to Salomon Brothers prior to joining Morgan Stanley. He holds an MS in Computer Science from The Columbia University School of Engineering and Applied Science and a BA from Harvard College.

BCI, a FINRA registered Broker Dealer and ATS, offers access to live liquidity and execution through its web based electronic BondsPRO platform. BondsPRO provides professional traders over 70 thousand live prices (with 65 million price updates daily) on 12 thousand different issues from over 300 contributing counterparties. BondsPRO posts live, anonymous, and executable orders on a single bond or list basis, and permits price negotiation. Its all-to-all connectivity allows supply to meet demand, thereby increasing efficiency and reducing spread. BCI is a neutral counterparty to all trades, acting as a riskless principal.

George O'Krepkie, President of BCI said: "As the regulatory and competitive environment intensifies for global fixed income trading, sophisticated technology that addresses client needs will be in ever greater demand. We are committed to providing unparalleled t technology of a level that has not yet been seen in fixed income trading. With Michael Sacks' willingness to lead that effort, we are confident that we will rapidly have technology that expands opportunity for traders."

Michael Sacks, Head of Technology for BCI said: "Despite the pervasiveness of technology in the financial services industry, much of it has yet to come to fixed income. We will take advantage of the opportunity to design and deploy the most current architecture and configuration available. We will bring a new standard to the industry, benefitting our clients worldwide, as they seek access to liquidity and execution." 

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