Pipeline Trading Systems hired Hans Heidle, Ph.D. from its rival ITG to run Pipeline’s transaction cost analysis (TCA) program.
The move reflects the heated competition among institutional agency brokers to provide the buy-side with sophisticated execution analysis and metrics tailored to their trading styles.
Heidle joins Pipeline as director, execution management consulting. He is responsible for Pipeline’s TCA Program and will work directly with clients to help them increase alpha capture and improve execution qualify using Pipeline’s Alpha Pro system.
Heidle was the former VP of research in ITG’s Financial Engineering Group, said Pipeline in today’s announcement. Heidle is a microstructure expert, developer of several pre-trade and post-trade transaction cost models, ad co-inventor of ITGs post-trade ACE— Agency Cost Estimator.
“Pipeline’s Alpha Pro provides traders a complete customized trading solution to optimize alpha capture and I am thrilled to help Pipeline’s customers take full advantage of it,” comments Heidle in the release. According to Fred Federspiel, Pipeline’s CEO, who also commented in the release, “ Alpha Pro has been adopted more rapidly than any other product we’ve ever launched, because it offers unique, tailored opportunities to increase alpha capture.
From January through April this year, Pipeline’s Alpha Pro
