Washington, DC—October 12, 2015—FIA Technology Services, a for-profit subsidiary of FIA, announced today that Nick Solinger will be joining the company as president, effective January 4, 2016. He will succeed Mary Ann Burns, who will become executive chair of the FIA Tech board of directors.
As president, Solinger will oversee the continued development of products and services that help executing and clearing brokers, trading firms, asset managers and other market participants improve operational efficiency in the listed derivatives business. He will be responsible for strategic direction and growth, as well as day-to-day operations of the company.
“I speak for the FIA Tech board in saying how excited we are to benefit from Nick’s unique combination of technical and business skills,” said Burns. “He is an excellent choice to lead FIA Tech because of his extensive knowledge of the industry and his strong relationships with FIA Tech customers. The demand for an industry utility to address operational inefficiencies has never been greater and Nick is particularly well suited to help FIA Tech address this demand.”
“I am thrilled to join FIA Tech at such an important time for the company and the industry,” Solinger said. “FIA Tech's services are critical to the industry's growth and success. I look forward to working with the FIA Tech team, the FCM community and their clients to deliver even greater value in the future.”
Solinger will join FIA from Traiana, where he served as head of product strategy and led its swaps and regulatory business since 2012. Traiana is a subsidiary of ICAP, plc with eight banks who hold minority ownership stakes. He joined Traiana in 2002 when it was a start-up company.
While at Traiana, Solinger led the launch of Traiana’s Harmony Network and its CreditLink service – Traiana’s low latency pre- and post-trade credit service commonly referred to as the Limit Hub – which allows swap execution facilities, futures commission merchants and buy-side firms to comply with certain Commodity Futures Trading Commission regulations, including CFTC rules 1.73 and 1.74.
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FIA Tech is a for-profit subsidiary of FIA that works with the listed derivatives industry to address operational inefficiencies that benefit from a coordinated industry solution. FIA Tech was founded in 2008 after it launched EGUS, an electronic system for the execution of give-up agreements. FIA Tech is also the provider of eGAINS, a system that settles brokerage payments between executing and clearing brokers and eRECs, a brokerage reconciliation tool. When the CFTC finalized rules for account ownership and control reporting (OCR), FIA Tech built and delivered a solution for reporting entities to collect and transmit OCR data to the CFTC. For more information, contact Heather Vaughan at 202-466-5460.
