NEW YORK, July 1 (Reuters) - Dave Cummings, a founder ofexchange operator BATS Global Markets and a well-known name inhigh-frequency trading, said on Tuesday that he was again takingon the role of chief executive officer at Tradebot Systems Inc,where he is chairman of the board.
In an email to friends and acquaintances in the brokerageindustry announcing his decision, Cummings exhibited hiscompetitive and down-to-earth spirit, saying, "Now that I have areal job, I am going to have to quit being a slacker."
Eric Boles, an 11-year veteran at Tradebot, had stepped downas CEO and was leaving the industry, Cummings said.
Cummings said Kansas City, Missouri-based Tradebot, whichwas founded in 1999 and has 60 associates, planned to stayprivate. The firm's technology is extremely fast, he said,adding that its best strength is being extremely nimble.
Cummings also alluded to heightened scrutiny ofhigh-frequency trading by regulators. Tradebot was named in theNew York attorney general's securities fraud lawsuit last weekagainst Barclays as the largest participant in thebank's private trading venue.
"I believe markets are much fairer to long-term investorsthan they were 15 years ago," Cummings said. "The industry hascome a long way, but there is room to improve. Let's have thatdebate."
(Reporting by Herbert Lash; Editing by Tom Brown)