Hedge Fund Broker Expands Into ETFs

Mar 26 2009 | 2:21am ET

WallachBeth Capital, the institutional brokerage/execution firm servicing hedge funds and sell-side proprietary trading desks, has expanded into exchange-traded funds.

According to Michael Wallach, the firm’s co-founder and CEO, WallachBeth has appointed ETF industry veterans William Dersch, Michael McCoy, Andrew McOrmond and Scott Saunders as managing directors, to serve as the core foundation to WallachBeth’s ETF team.

“As the trading market landscape continues to evolve, we’re seeing a continuously increasing focus on strategies that not only incorporate, but often link exchange listed equity options, index products and ETFs,” said Wallach.

“More importantly, and however transparent exchange-listed products may be, the fact is there are dozens of market centers and liquidity pools for these hedging products, and our role is to help clients’ source liquidity and the best prevailing prices for hard to execute, and potentially market-impacting trades.”

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