Management Team

   Melvin S. Herman, Chief Executive Officer
Mel spent 23 years with Oppenheimer & Co., Inc.from 1977 culminating with positions as Managing Director, Treasurer, Chairman of the Management Committee, and member of both the Credit and Operating Committees. While at Oppenheimer, Mel secured the capital and built the financial structure that was instrumental in the doubling of the firm's revenues. He was responsible for all of the firm's domestic and international financing, as well as for securing short- and long-term capital to support the business, managing the allocation of regulatory capital and liquidity to various production areas, and risk management. Prior to joining XTF, Mel was Executive Vice President and COO of Brean Murray & Co., Inc., a full service broker-dealer, and BMI Capital, its investment advisor and asset management subsidiary. He managed the daily functions of Sales and Trading, Research, Accounting, Operations, Legal and Compliance, Information Technology, and Human Resources divisions. Mel is a Certified Public Account (CPA) in New York State and a member of the American Institute of CPAs and New York State Society of CPAs. He holds a Bachelor of Science in Accounting from Brooklyn College and a Master of Science in Taxation from Pace University in New York.

  Richard Radnay, Chief Technology Officer
Richard is responsible for IT, quantitative research, database architecture, and product development. Richard has over 18 years of experience in the financial industry with a specific focus on technology applications and systems that optimize performance and trade execution. Richard began his career at Bear Stearns where he built and managed complex proprietary trading engines in both equity and fixed income trading. Richard joined XTF Market Making in 2001. In addition to managing the daily operations, he built the technology infrastructure that enables ETF traders to successfully price and provide liquid markets in all ETFs. Richard holds BA in Finance from University of Florida and is an honors graduate from Baruch University Zicklin School Business with an MBA in Computer Information Science. He is an allied member of the American Stock Exchange. Richard has qualified S7 and S24 licenses and MCSE certification.

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