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Screenshot of a breaking news alert e-mail from Q2 2017
OneMarketData, LLC, the founders of OneTick, a single solution for event stream processing and tick data management, today announced it has appointed Dermot Harriss to head development of the OneTick Market Surveillance Service. Prior to joining OneMarketData, Mr. Harriss had accumulated over twenty years of experience at D.E. Shaw, Morgan Stanley (U.S. and Japan), and Goldman Sachs, in roles that included technology management, derivatives risk management, statistical arbitrage, futures trading, program trading, and wholesale execution services. As a strategist and trader at Goldman Sachs, Dermot Harriss was responsible for the Quantitative Trading Group’s high-frequency market-making platform, and later for the development of the first fully automated ‘blind bid’ principal risk pricing workflow.
“We are excited that Mr. Harriss is joining the OneMarketData team,” said Leonid Frants, founder and principal of OneMarketData. “His decades of experience across a variety of critical roles in major firms make him an ideal candidate to head this critical project.”
“As regulatory oversight continues to grow, market participants demand sophisticated technologies for real-time alerting that leverage high-performance data management and analytics. Thus, the OneTick Market Surveillance Service is primed to be a key OMD offering going forward, and it is excellent to see it in such capable hands.”
At Goldman Sachs, Mr. Harriss developed and traded index futures market-making strategies, and led the team that developed the firm’s first retail execution platform, with particular responsibility for regulatory compliance and execution quality.
In these missions, Dermot Harriss worked closely with senior legal and compliance staff to define, implement, and develop self-surveillance solutions for new trading activities, to satisfy the requirements of the new products committee review process, the franchise execution quality committee process, and legal reviews. In several roles he worked closely with internal auditors, FINRA TMMS examiners, and SEC examiners. He was responsible for the development of controls to satisfy Regulation 15(c)35 reviews of the retail market-making and agency execution businesses, and was an early contributor to the firm’s Automated Trading Controls discipline.
The OneTick Market Surveillance Service delivers an integrated, real-time examination of order flow for regulated entities supporting end-to-end breach detection, alert workflow management and historical replay activities. Designed by market experts and already adopted by leading brokerage firms, it is a complete out-of-the-box solution including pre-coded compliance rules, parametrized alert thresholds, email notification, alert monitors, visual dashboards and market data.
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