Cantor Fitzgerald is in the process of launching an ETF Arbitrage business that will provide customers with two-sided ETF markets, encompassing full-service execution, research and market color.

To lead and built out the unit, Cantor has hired Dan Segal, formerly a managing member of SEG Capital specializing in ETF market making on the floor of the American Stock Exchange, as managing director. Segal will be supported by traders/market-makers Joseph La Grasta, Todd Alberico and Kanellas Cafcules. Segal now reports to Jarred Kessler, global head of equities.

LaGrasta was also with SEG Capital, as a partner and market maker on Amex. Previously, he was a specialist in unwinding option risk at the Chicago Trading Company.

Alberico, who will focus on international and currency ETFs, was an electronic ETF trader at Goldman Sachs.

Cafcules will focus on fixed income and commodity ETFs and was also previously at Goldman, where he traded ETFs in quantitative fixed income and commodities portfolios. Before that, Cafcules was an ETF specialist and supervisor on the Amex floor.

“I am delighted to welcome an individual of Dan’s caliber to lead our ETF Arbitrage team,” said Shawn P. Matthews, chief executive officer of Cantor Fitzgerald. “Dan brings with him a stellar record of outstanding market-making capabilities, which will help to drive the growth and success of Cantor’s ETF platform. With Dan at the helm of this outstanding team, Cantor is uniquely positioned to build and establish a global presence in the ETF marketplace, while providing an unwavering level of customer service to our clients.”



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