New York Equity Sales Team Joins SageTrader, LLC
SAN FRANCISCO, August 19, 2013 – San Francisco-based broker-dealer SageTrader, LLC has partnered with a New York based sales team formerly with the equity clearing and execution division of ED&F Man Capital Markets, Inc.
The New York group includes Sean Malloy, who will serve as SageTrader’s Global Head of Sales and who was formerly SVP of Equities and was previously the Head of Sales for Penson Worldwide. Matt Shatz will be the Global Head of Clearing and Execution for SageTrader. He was the former Global Head of Execution and Clearing and was formerly Global Head of Electronic Trading and Clearing Equities at MF Global.
SageTrader, LLC was formed in late 2012 and is the operating subsidiary of Sage Brokerage Holdings, LLC. Sage Brokerage Holdings was founded by Douglas Engmann, a 35-year pioneer in the brokerage and trading industry. Engmann was the co-founder of Sage Clearing Corp. and became the CEO of the ABN AMRO’s global professional trading and clearing operations after the acquisition of Sage Clearing by the Dutch bank. Engmann was Head of North American Equities for Fimat/Newedge USA and pioneered the implementation of portfolio margining for the US securities industry from 2005-2007.
SageTrader features the innovative Sage System reporting, clearing, margin and risk software – which had powered both Sage Clearing’s options market maker clients and Fimat/Newedge portfolio margin customers.
“Matt and Sean have been industry leaders for many years in the electronic trading and clearing arenas. We were fortunate to be able to offer these professionals and their customers a home,” stated Engmann. “Their business mirrors what we are building at SageTrader, cost effective and service oriented execution and clearing for mid-sized proprietary traders and hedge funds trading options, equities and futures, including portfolio margin accounts”.
“We are looking forward to the opportunity that SageTrader presents, said Shatz. “The history and experience of the team that Doug Engmann has put together gives our clients a clear advantage in a competitive environment.”
Added Malloy, “With the quality of the Sage System and excellence of the team, we hope to fill a void in the professional trading and small to mid-size hedge fund market.”
The firm clears accounts through Merrill Lynch Professional Clearing Corp., a division of Bank of America Merrill Lynch and Wedbush Securities, Inc. SageTrader will also introduce futures accounts to ED&F Man Capital Markets, Inc.
SageTrader is a member of FINRA, SIPC and the NFA. For additional information, visit the website at www.SageTrader.com.
Tim Taylor, Senior Advisor