London/New York, 30 January 2023— FIA Tech, the futures industry’s leading technology provider, today announced that JP Morgan veteran Michael Torretta has joined the firm in the newly created role of Head of Strategic Alliances. Mike is based in New York and reports to Chief Executive Officer Nick Solinger.
Mike Torretta spent over 20 years at JP Morgan, most recently as Executive Director, Product Development in the global clearing and execution business. Mike’s career at JP Morgan spanned exchange traded and OTC derivatives, FX prime brokerage and fixed income/securities prime brokerage and he held positions covering but not limited to operations, sales/execution , client service and product development.
Mike has played a key role in in a number of cross-industry initiatives that have improved the current market structure by improving operations and reducing systemic risk, including Futures Industry Association and International Swaps and Derivatives Association working groups. He also represented JP Morgan on the Board of Directors for FIA Tech and as the co-chair of the FIA Tech Product Advisory Committee.
At FIA Tech, Mike Torretta will manage and grow FIA Tech’s existing partnerships with ISVs, data providers, exchanges, execution platforms, and other strategic partners., as well as exploring and creating new strategic opportunities. In addition he will use his extensive sell-side experience to provide input into the development of existing and new products.
“Mike has a truly unique client centric outlook and we are thrilled he is joining FIA Tech,” said Nick Solinger, CEO of FIA Tech, “His experience across ETD, OTC clearing, and Prime Brokerage makes him uniquely able to identify and create value for our partner ISVs and exchanges. Creating joint value for our ISV and exchange partners is integral to the success of our mission of improving the industry.”
About FIA Tech
FIA Tech is the leading technology provider to the exchange traded derivatives industry. Owned since 2021 by a consortium of ten leading clearing firms and the Futures Industry Association, FIA Tech will be investing to further the development of existing products that have successfully served the industry and launch innovative new solutions to improve market infrastructure across the listed and cleared derivatives industry. FIA Tech works in close partnership with the broader industry, vendors, buyside firms and end users to bring efficiency to the exchange traded and cleared derivatives industry.
Current FIA Tech services include digitally managing give-up agreements, meeting regulatory compliance requirements arising from CFTC, MIFID II and exchange regulatory compliance, reconciling and settling brokerage fees and providing reference data products that are required across the pre- and post-trade space in futures and equity options.
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