Chairman, Chief Executive Officer, Co-Founder
Paul L. Chou is an experienced securities trader, software engineer and financial entrepreneur. Prior to assuming his current position, Paul co-founded and ran Opez, a software company which received funding from the prestigious Y Combinator program, a startup accelerator fund which has sponsored Dropbox, Reddit and Airbnb. Prior to Opez, Paul was a trader on the Quantitative Cash Trading desk within the Securities Division of Goldman Sachs, where he was responsible for the development, trading and risk management of algorithmic equity trading strategies for U.S. and Japanese markets.
Paul received a B.S. in Computer Science and a B.S. in Mathematics from the Massachusetts Institute of Technology. While at MIT, he worked in the Laboratory for Financial Engineering to develop models of market participant behavior in limit order books given the introduction of stochastic, asymmetric information.
In January 2016, Paul was appointed to the CFTC’s Technology Advisory Committee (TAC), which was created in 1999 to advise the Commission on the impact and implications of technological innovations on financial services and the futures markets, and the appropriate legislative and regulatory response to increasing use of technology in the markets.
In July 2018, Paul was confirmed by the commission to be a member of the CFTC's Technology Advisory Committees' Virtual Currency subcommittee.
Chief Operating Officer, Chief Risk Officer, Co-Founder
Juthica Chou spent 7 years as a derivatives trader within the Securities Division of Goldman Sachs, where she specialized in algorithmic trading. Juthica began her career as an options market-maker on the Quantitative Volatility Trading desk, where her product scope ranged from equity and index options to VIX, treasuries, currencies and commodities. She later joined the Single Stock Volatility desk, where she traded dispersion and variance swaps and focused on the automated quoting of packaged trades.
Juthica received a B.S. in Mathematics with Computer Science from the Massachusetts Institute of Technology.
Chief Technology Officer, Co-Founder
Zach Dexter is an experienced software engineer, project manager and technology architect. Zach led the buildout of LedgerX's integrated exchange and clearinghouse platform from the ground up, leveraging open source, cutting-edge approaches to cloud technology such as container orchestration and hardware security. In summer 2018, Zach was invited to join the CFTC Technology Advisory Committee's cybersecurity subcommittee.
Zach holds a B.A. in Computer Science from UNC-Chapel Hill and has previously worked as Lead Software Engineer at a Y Combinator-backed startup and as an independent software consultant.
Chief Financial Officer
Jennifer Liu has over 10 years of experience in the financial services industry. Prior to assuming her current position, Jennifer was a Senior Finance Manager at Alibaba Group where she built out the finance function in North America following the largest global IPO in September 2014. Prior to this, she was an investment analyst at JP Morgan Asset Management specializing in technology and media investments. She started her career as an equity research associate at Morgan Stanley.
Jennifer received a B.S. in Operations Research & Industrial Engineering and an M.Eng. in Financial Engineering from Cornell University. She is also a CFA charterholder.
Chief Compliance Officer and Head of Legal
Alex C. Levine has spent more than 15 years as an attorney and compliance executive focused on the practice of regulatory, securities, and derivatives law. Alex has previously held senior legal positions at the U.S. Commodity Futures Trading Commission (CFTC) and the U.S. Securities & Exchange Commission (SEC), where he was intimately involved in the regulatory response to the credit crisis and rule makings under the Dodd-Frank Act. He has also served as Director of Regulatory Compliance at The Options Clearing Corporation (OCC), a systemically-important financial market utility (SIFMU). Prior to that, Alex was General Counsel & Chief Compliance Officer at the hedge fund Gladius Capital Management LP. He started his career as an Associate Attorney at the law firm of Kirkland & Ellis LLP. In addition to his legal, regulatory, and compliance expertise, Alex has significant experience advising companies as well as providing strategic input on core business development and change management initiatives.
Alex received a J.D. from Stanford University Law School. He also attained an M.B.A. in Entrepreneurship and Analytic Finance from The University of Chicago Booth School of Business, where he specialized in the financial analysis of innovative investment products and complex trading strategies as well as in how startups create and sustain competitive advantages. Alex additionally graduated with a B.A. in Economics & Politics from Oberlin College.
LEDGER HOLDINGS INC. INDEPENDENT DIRECTOR
Managing Director, Head of Global Policy at The Depository Trust & Clearing Corporation (DTCC)
Mark was nominated by President Barack Obama in March 2011, and was unanimously confirmed by the U.S. Senate, to serve as commissioner on the CFTC. Mark served as commissioner from October 2011 to August 2015, including 5 months as acting chairman in which he managed daily operations, set overall policy direction of the agency and served as a principal on the U.S. Financial Stability Oversight Council. During his tenure, Mark oversaw implementation of the first trading mandate for certain interest rate and credit default swaps and supported and helped craft over 90 proposed and final CFTC rules and orders implementing Dodd-Frank. He also was a sponsor of the CFTC’s Global Markets Advisory Committee.
Prior to joining the CFTC, Mark worked for 7 years in the U.S. Senate as a senior leadership staffer advising on all financial-services-related matters, including the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
LEDGERX LLC INDEPENDENT DIRECTORS
Vice President of the American Bankers Association's Center for Bank Derivatives Policy
Ananda Radhakrishnan is Vice President of the American Bankers Association’s Center for Bank Derivatives Policy. In this role, Ananda provides advocacy support for risk-based regulation of derivatives activity by banks of all sizes to ensure access to markets and instruments that allow financial institutions to assist their customers, as well as themselves, in managing risk.
Prior to this role, Ananda was a Partner at Norton Rose Fulbright where he focused his practice on all matters relating to commodities and derivatives law and regulations. He represented infrastructure operators such as clearinghouses, exchanges, swap execution facilities and trade repositories, intermediaries such as futures commission merchants, money managers, and commodity trading firms. He also worked collaboratively with his colleagues throughout the Norton Rose Fulbright global firm to provide coordinated solutions for our clients on complex cross-border compliance challenges. He has extensive knowledge of the industry and in-depth understanding of the Commodity Exchange and Dodd-Frank Acts and CFTC regulations, and is a regularly invited to speak at industry conferences in the United States, Europe and Asia.
Ananda joined Norton Rose Fulbright’s Washington, DC office in 2014 after serving the previous 12 years at the Commodity Futures Trading Commission. Most recently, he was Director of the Division of Clearing and Risk. Previously, he served as the Director of the former Division of Clearing and Intermediary Oversight. During his tenure at the CFTC, Ananda testified twice before the United States Congress on clearing related matters and has made numerous presentations to foreign regulatory authorities and industry panel discussions on the CFTC’s program for the oversight of clearing organizations and the protection of customer funds. He was also the CFTC’s lead representative on the international body that set the standards for the supervision of financial market infrastructures.
Partner, Gelber Group
Carl founded and runs the algorithmic trading business at Gelber Group. He leads a group of 30 software developers, traders and researchers, overseeing all aspects of the lifecycle of automated trading strategies, from idea conception to research to implementation, deployment, and operations. Carl sits on the firm’s committee responsible for dictating trading strategies and identifying revenue streams.
Carl received a Bachelor of Science in Electrical Engineering and Computer Science from MIT.