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FIRM OVERVIEW

Walleye Trading Advisors (“Walleye”) is an established, technology driven investment advisor consisting of approximately 100 individuals in research, trading, software engineering, operations, administrative, and compliance functions.

Walleye was established in 2005 by five partners to manage an electronic and floor-based options market making operation. Over time, the firm has added numerous business units and strategies, hiring experienced traders and developing quantitative models to complement and interact with its traditional market making business.

While the Walleye business model has evolved since the firm’s inception in 2005, its excellent results have been consistently derived by its focus on four key areas:

  • Trading

  • Technology

  • Risk Management

  • People

 
 
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LEADERSHIP 

Partners

+ Irvin Kessler – Founding Partner

Mr. Kessler is primarily involved in setting the strategic direction of the firm. Mr. Kessler is also the founding member and Chief Investment Officer of Provident Advisors LLC, which is a registered investment adviser that provides discretionary management services to private funds.

Prior to co-founding Walleye in 2005 and founding Provident Advisors LLC in 2002, Mr. Kessler was CEO and CIO of Deephaven Capital Management, a multi-strategy hedge fund he co-founded in 1994. Mr. Kessler founded and co-founded several other companies in the past. In 1995, he co-founded Arbitrade, a global market maker in exchange traded derivatives. When Arbitrade and Deephaven were sold to Knight Trading Group in 2000, Mr. Kessler joined Knight’s executive oversight committee.

Mr. Kessler also co-founded Kessler-Asher Group in 1986, a firm that offered clearing, training, and financial backing to professional traders. The firm was sold to Spear, Leeds & Kellogg in 1998. He also founded Provident Real Estate Advisors to invest in distressed real estate. PREA began purchasing and managing single family homes for rent in 2009. These portfolios morphed into a public REIT, Silver Bay Realty Trust Corp. (NYSE: SBY), of which Mr. Kessler was one of the founders and served as Chairman of the Board until its sale to another public company for $1.3B in 2017.

Mr. Kessler began his career as a floor trader in 1978, trading and making markets in equity and index options, treasuries, foreign exchange and grains on the CBOE, CBOT, and CME until 1990. He was elected to the Board of Directors of the CBOE and Cincinnati Stock Exchange in 1988.

+ Andrew Carney – Partner, Head of Trading, Chief Executive Officer

Mr. Carney has been with Walleye since 2006, and a partner since 2015. He has been an integral part of building the US options market making business since its inception. As a partner, Mr. Carney oversees all of Walleye’s trading operations and risk management.

Prior to joining Walleye, Mr. Carney was an Actuary at Willis Towers Watson.

Mr. Carney graduated Magna Cum Laude from Luther College with a B.A. in Mathematics and Statistics. Additionally, he is an Associate in the Society of Actuaries.

+ William England – Partner, Chief Investment Officer – Walleye Opportunities Fund

Mr. England joined Walleye in 2013 and became a partner in 2017. He serves as the Chief Investment Officer of the Walleye Opportunities Fund. As Chief Investment Officer, Mr. England oversees internal and external strategy allocations and is responsible for risk management for the Fund. As a partner, Mr. England is responsible for overseeing fundraising activities as well as identifying strategic opportunities.

Mr. England began his career as a Quantitative Researcher for the AHL division of London-based Man Group Plc, researching and implementing algorithmic trading strategies across global futures and equity instruments.

He earned a BSE in Operations Research and Financial Engineering from Princeton University (Academic All-Ivy honors) and a Master’s degree in Mathematical and Computational Finance from Oxford University. Throughout his time at Princeton and Oxford, Mr. England was an accomplished rower, appearing in multiple World Championships for the U.S. National Team and winning the Oxford-Cambridge Boat Race.

+ Mark Zeldis – Partner, Head of Technology

Mr. Zeldis has been with Walleye’s technology affiliate, Walleye Software, since 2005, and a partner since 2015. He has been instrumental in designing and developing Walleye’s competitive technology infrastructure as well as some of its trading strategies. As a partner, Mr. Zeldis continues to manage the infrastructure and support needs of the trading groups.

Prior to joining Walleye, Mr. Zeldis was Vice President at Lehman Brothers in Equities Technology. He was responsible for reengineering the company’s Position/PNL/Risk system and providing assistance in platform and logic development behind Lehman’s execution strategies. Early on in his career, Mr. Zeldis founded SeekImage. Here, he was able to invent and develop algorithms behind content based image retrieval and recognition on a large scale.

Mr. Zeldis graduated from Brown University with a B.S. in Computer Science.

+ Mark Lyons – Partner, Trader

Mr. Lyons is a Partner and founding member of Walleye. As a Partner, he has operational responsibility for monitoring and maintaining firm-wide risk levels and controls. He has been working with Mr. Kessler since 1984 and was also a Partner in Arbitrade.

Mr. Lyons was the head equity and index trader at Arbitrade from 1997 through 2005, as its ownership transferred to Knight and Citigroup, respectively. Mr. Lyons’ index group was in the top two in contract volume traded on the CBOE and the Chicago Mercantile Exchange for seven consecutive years.

Mr. Lyons originally was with Mr. Kessler as a trader with the Kessler Asher Group from 1984 to 1996 in Chicago on the CBOE, in New York on the Amex, and in Frankfurt Germany on the DTB.

+ Paul Mattson – Partner, Trader

Mr. Mattson joined Walleye in 2005 and became a Partner in 2017. Prior to joining Walleye, Mr. Mattson had spent more than five years working for Towers Watson (formerly Tower Perrin) where he worked as a consulting actuary for large pension plans.

Mr. Mattson graduated from the University of Minnesota with a B.S. in Mathematics and a B.S. in Economics. He is a CFA charterholder.

Operations/Legal/Compliance

+ Mark Tusler – Chief Financial Officer

Mr. Tusler joined Walleye in 2005 and is responsible for accounting, finance, operations, tax and regulatory reporting requirements for each of the firm’s domestic and international entities.

Prior to joining Walleye, he had spent more than eight years in accounting capacities for multi-strategy hedge fund EBF & Associates, NRG Energy, and Ernst & Young.

Mr. Tusler graduated magna cum laude from University of Minnesota at Mankato with a B.S. in Accounting and Business Administration. He also earned a full scholarship to the University of Denver, where he received a Masters in Taxation.

+ Jim Moeller – General Counsel

Mr. Moeller has been General Counsel and Chief Legal Officer at Walleye since January 2015. He manages the firm’s legal department and is responsible for legal affairs of the company.

He is an integral part of company decision making in all areas, including regulatory, compliance, strategic direction and risk management. Prior to joining Walleye, Mr. Moeller was Assistant General Counsel of Advantus Capital Management, a registered investment advisor based in St. Paul, Minnesota, that focused on institutional asset management.

Prior to his work at Advantus, Mr. Moeller was an associate attorney in the corporate department of Dorsey & Whitney LLP, based in Minneapolis. Mr. Moeller received a J.D. from The George Washington University Law School in Washington, D.C. and a B.S., majoring in Finance, from the University of Minnesota’s Carlson School of Management.

+ Adil Elamri – Chief Compliance Officer

Mr. Elamri is a specialist in derivative products and is responsible for oversight of regulatory compliance for all Walleye entities and affiliates.

Prior to joining the firm in 2009, he served as a Senior Compliance Officer at Citigroup.

From 2002 until 2005, Mr. Elamri worked in the Market Surveillance Department of the International Securities Exchange in New York. Mr. Elamri earned a B.A. in Finance from the Institute of High Studies of Management in Casablanca, Morocco, and a Master of International Business from Jacksonville University.

 

Marketing

+ Jonathan Brenner – Chief Marketing Officer

Mr. Brenner joined Walleye in 2018 as Chief Marketing Officer.

Prior to joining the firm, Mr. Brenner was a Vice President in the Capital Strategy Group at Bank of America Merrill Lynch.

Before Bank of America, Mr. Brenner spent four years as a Senior Analyst in the Investment Research Group at Ehrenkranz Partners, a New York-based Multi-Family Office.

Mr. Brenner began his career in the Consulting Group at Cambridge Associates and received a B.A. from Bucknell University.

 
 

INVESTMENT Funds

The core tenet of Walleye’s investment business is the ability of the firm’s leaders to identify high performing strategies and utilize world class technology to understand how the amalgamation of different return streams impacts risk.

 
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Funds

+ Walleye Investments Fund

  • Inception Date: April 2006

  • Strategies: Equity/Index options market making, quantitative investment strategies, fixed income options trading, event driven trading, and external managed accounts

  • Status: Closed

+ Walleye Opportunities Fund

  • Inception Date: September 2018

  • Strategies: External managed accounts and internal trading strategies

  • Status: Closed

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Custom Solutions

For certain institutional investors, Walleye can construct bespoke managed accounts or funds of one with a wide range of volatility targets utilizing a suite of strategies.

 
 
 
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External Managed Accounts

Walleye’s external managed accounts platform, including its newly formed first loss program, aims to identify small, niche hedge fund managers employing uncorrelated alpha oriented strategies trading across:

  • Equities

  • Options

  • Futures

  • Fixed Income

 
 
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TECHNOLOGY

Walleye has always endeavored to build a best-in-class technology platform. All strategies are supported by a custom-built database engine and automated trading platform, managed by a highly skilled development team.

Supporting every aspect of the system is Deephaven Data Labs, a proprietary database technology and language, which was originally built to accommodate the enormous data challenges posed by modern equity options market making.

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Submit A Resume

If you are interested in joining the team as a trader/high level technologist, having a discussion about our external managed accounts platform, or would like to discuss other possible partnerships with Walleye, please submit your information via this link.

 
 
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Contact Us

Walleye Trading Advisors, LLC

HEADQUARTERS - Minnesota

2800 Niagara Lane North

Plymouth, MN 55447

952.345.5200

 

New York

16 W 22nd Street, 9th Floor

New York, NY 10010

 

Boston

One International Place, Suite 780

Boston, MA 02110

 

Oakland

1212 Broadway, Suite 1700

Oakland, CA 94612

 

Chicago

111 W Jackson Blvd, Suite 17043

Chicago, IL 60604

Investor Relations: ir@walleyetrading.net

 

 
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