Isam Habbab, PhD
Dr. Habbab is a managing partner at Area 11 Research. He was previously the founder and CEO of Gramian Technologies, LLC, an early-stage electronic trading firm focused on high-frequency quantitative trading in the US cash equities markets.
Prior to founding Gramian, Dr. Habbab was a Managing Director and Head of Quantitative Research at State-Street Currenex, where he built very large scale systems for quantitative analysis of all customer trading on the exchange. Dr. Habbab previously built and managed intraday currency strategies, equity statistical arbitrage models, and structured credit strategies. Dr. Habbab is a quantitative specialist with 20 years of experience in quantitative valuation and forecasting techniques across multiple asset classes, built upon an additional 15 years of experience in signal processing research at Imperial College London and Bell Labs Research.
Mr. Bodek is a managing partner at Area 11 Research. His primary focus is on the design of competitive low-latency execution strategies.
Mr. Bodek was formerly a founder and Chief Executive Officer of Trading Machines LLC, an independent high frequency options trading firm. Prior to his tenure at Trading Machines, Mr. Bodek was a Managing Director and Joint Global Head of Electronic Volatility Trading at UBS. He is an electronic trading executive and algorithmic trading strategist with two decades of experience in the automated trading space. Mr. Bodek's career, experiences, and advocacy for regulatory reform of securities markets are described extensively in Dark Pools by Scott Patterson. Mr. Bodek is also the author of two books on market structure, The Problem of HFT and The Market Structure Crisis, as well as the subject of the documentary film The Wall Street Code directed by Marije Meerman.
Mr. Bodek is known as a market structure reform advocate who brought attention to several questionable practices of high-frequency traders and trading venues. He is generally credited with unleashing the so-called "order type controversy," which focuses on abusive practices relating to complex nontransparent order types. Mr. Bodek's contributions have influenced the ongoing public policy debate and the rapidly changing landscape for regulatory, enforcement, and litigation issues, and he has actively assisted the SEC in several investigations that resulted in substantial monetary fines and significant changes in practices of certain trading venues, including admissions of inaccurate disclosure.
Mr. Habbab is a systematic trading strategist at Area 11, where he oversees the specification and development of the firm’s low-latency trading systems. Mr. Habbab is also responsible for developing market microstructure models and translating new quantitative models and signals into actionable high-frequency trading strategies.
Mr. Habbab graduated from Yale University with a BA in Mathematics and Philosophy. His thesis contributed a novel derivation of mathematical induction, arrived at via the application of modal logic to metaphysical theories. While at Yale, he also completed extensive coursework in computer science, statistics, mathematical logic and computability, discrete mathematics, and set theory. Mr. Habbab was also the recipient of the Lewis Research Fellowship, Hilgendorf Memorial Scholarship, and Saint Anthony Grant, which funded his research projects in South Africa, India, and Denmark.
Imad Benbrahim is a member of technical staff at Area 11, where he is responsible for building low-latency trading systems with a key implementation emphasis on robustness, modularity, maintainability, and speed. He is involved in all aspects of system development across the trading lifecycle, from data processing to trading and execution management.
Mr. Benbrahim has extensive experience in software architecture and design. He has developed world-class software that runs in production, continuously, and without defect, in thousands of locations across the world. He is an expert in addressing complex software deployments using object-oriented design and has managed large code bases (some up to several million lines of code) throughout his career.
Mr. Benbrahim graduated from Arts & Meteirs Paristech in France and worked in the US telecom industry from 1998 – 2015.
Neil Mark Shaw, PhD
Dr. Neil Mark Shaw is a member of technical staff in Area 11's Quantitative Strategies. His most recent role was Lead Quantitative Strategist at Trading Machines LLC, where he was responsible for the design, development, and operation of all quantitative trading and risk systems. Previous to that, Dr. Shaw was a Director at UBS Investment Bank in the Electronic Volatility Trading business unit and was a Vice President in Financial Engineering at Hull Trading / Goldman Sachs. In both positions, he focused on volatility strategies and high-performance quantitative programming. He was also a Principal Member of Technical Staff at Magnify Inc. and a Research Associate / Project Associate at Fermilab for the Department of Physics, Purdue University. Dr. Shaw earned a Ph.D. in Physics from the University of Rochester and a B.A. in Physics from Johns Hopkins University. Dr. Shaw holds the Series 7 and 63 securities registrations.
Stanislav Dolgopolov, JD
Stanislav Dolgopolov is a regulatory expert at Area 11. His published work focuses on market structure, legal and economic aspects of market making, and insider trading regulation. He was previously affiliated with several law firms, including Dechert LLP, and served as an adjunct professor teaching securities regulation– related classes at UCLA School of Law.