CHICAGO and NEW YORK, Nov. 7, 2013 /PRNewswire/ -- Chicago-based Allston Holdings LLC, parent of one of the nation's leading proprietary electronic trading firms, today announced that the firm has established new commodities and energy trading teams in Chicago and opened its first office in New York, as part of its strategic growth plan.
John Stotts has joined Allston as Director of Commodity Trading, and Chris Neylon has joined as Director of Energy Trading. Each will manage the firm's growth in their respective sectors. Stotts has 14 years of experience in trading and managing agricultural commodity options. Neylon has over a decade of experience in trading and managing options and futures trading groups, primarily in the energy space.
The New York office was launched by veteran trader and technology executive Kirk Howell and software developer Jiujiu Sun. Jim Lemoine, formerly founder and Managing Partner of Lemoine Trading in New York, is serving as an advisor to Allston on the establishment, strategy and growth of the New York operation.
Allston CEO Raj Mahajan said: "Over the past year, we've been laser-focused on expanding our futures and options franchise into markets with attractive risk/return profiles, where we have a technological competitive advantage, and where we either have or can recruit talented leaders. In parallel, we've pulled back from markets that lack these characteristics. I'm pleased that Allston continues to attract some of the most talented people in our industry."
The New York office, located in Rockefeller Center in the McGraw-Hill Building at 1221 Avenue of the Americas, includes infrastructure to support trading and room for the New York staff to expand as Allston identifies new opportunities for growth.
Howell, who joins Allston as New York Portfolio Manager, has been active in the commodity and technology space for 12 years. Sun joins Allston as a Quantitative Analyst. Previously, he developed software for Lemoine Trading's strategies since 2009. With 25 years of experience in the New York and Chicago commodity option markets, Lemoine is widely known for developing innovative systems for the electronic trading of commodity options.
Chicago-based Allston Holdings is parent to Allston Trading, one of the nation's leading proprietary electronic trading firms, operating globally on exchanges in multiple asset classes. In addition to the Chicago headquarters, Allston has an office in London and the new office in New York. For more information, please visit www.allstontrading.com.
SOURCE Allston Holdings LLC