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Regulation and Compliance > Federal Regulation > SEC

Ex-SEC Commissioner Piwowar Tapped by Electronic Market Maker

By Melanie Waddell

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Former SEC Commissioner Michael Piwowar, executive director of the Milken Institute Center for Financial Markets, has been appointed a senior advisor to GTS, a leading electronic market maker across global financial instruments.

Piwowar, who was an SEC commissioner from Aug. 15, 2013 to July 6, 2018, will provide GTS with legislative and regulatory advice.

He also was interim SEC chairman from Jan. 23, 2017 to May 4, 2017.

“As a former trusted and respected public servant, Mike Piwowar is a natural fit with the ethos of GTS, which calls for innovation, responsibility and leadership in today’s modern markets,” said Ari Rubenstein, CEO of GTS.

“Regulatory and legislative matters in Washington are more complex than ever, and Mike will be an important guiding hand to help GTS promote market confidence and policies that recognize the vital role that investors and public companies have in today’s market structure,” Rubenstein added.

Piwowar said in the statement that he “came to know GTS first while at the SEC and was always impressed with the transparency and sense of responsibility the firm felt in the overall success of the U.S. capital markets.”

GTS is “a leader with a demonstrated track record of using the most sophisticated technology to improve the efficiency of the markets and fair access for all participants. I look forward to partnering with Ari and the team on matters important to the investment community.”

GTS recently announced several acquisitions and strategic partnerships, including acquiring the retail stock trading and ETF businesses of Cantor Fitzgerald, partnerships with Wavelength Capital Management and Mischler Financial Group, the securities industry’s oldest minority broker-dealer, and a strategic collaboration with BNP Paribas to trade that firm’s U.S. Treasuries and U.S. equities.

— Check out Cantor to Sell ETF, Retail Stock-Trading Division on ThinkAdvisor.

Melanie Waddell

@Think_MelanieW

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