Miami International Holdings, 7 Roszel Road, Fifth Floor, Princeton 08540; 609-897-7300; fax, 609-524-7190. Thomas P. Gallagher, chairman and CEO. www.miami-holdings.com.
MIAX, an electronics exchange based on Roszel Road, has grown to become a competitor in the cutthroat world of stock options trading since it was founded in December of 2012.
The high-speed electronic trading exchange, which focuses on trading stocks in Latin and South American companies, has made a deal with seven firms allowing them to buy stock in the exchange’s holding company, Miami International Holdings, if they trade more on MIAX. The companies involved include Citadel Securities LLC, Morgan Stanley, KGC Americas, Optiver, Susquehanna Securities, Timber Hill, and Wolverine Trading.
MIAX CEO Thomas Gallagher said the deal, signed February 4, is intended to allow MIAX to increase its market share to 10 to 15 percent from its current level of 4 percent. In a statement, MIAX said it has other expansion plans in the works, including selling or licensing its proprietary trading technology, and to expand its trading to Latin American equities and futures.
As a high speed trading platform, MIAX boasts a throughput of 27 million quotes per second. Each quote takes only 24.7 microseconds on average to make a round trip.
Although MIAX focuses on trading foreign stocks, its roots are very local. Gallagher, the founder and CEO, is also a founding partner at the Forrestal Village-based corporate and securities law firm Gallagher, Briody & Butler, where he worked for 25 years.
Barbara Comly, executive vice president, general counsel, and corporate secretary for MIAX, also worked at Gallagher, Briody & Butler during her 25-year law career.
ERA Properties Unlimited, 51 State Road, 45A, Princeton 08540; 609-921-2200; fax, 609-921-6600. John Terebey Jr., broker owner. www.sellingnj.com.
Real estate agency ERA Properties has moved from the Princeton Shopping Center to a retail center on Route 206 known as Clifftown Plaza. Its new office, at 2,500 square feet, is almost three times the size of its old space.
“We just outgrew our space,” said business owner John Terebey. “We needed to get into a more modern facility.” The new office provides an open lounge where clients can meet with the firm’s 20 agents.
Treato, 104 Carnegie Center, Suite 210, Princeton 08540; 917-412-4194. Ezra T. Ernst, chief commercial officer. www.treato.com.
Treato, a company that analyzes social media posts about pharmaceutical companies, has hired former TripAdvisor executive Christine Petersen as chief consumer officer — an executive responsible for customer relations — and chief marketing officer.
“As a part of our mission to help people — both individuals and industry professionals — make smart healthcare decisions based on the experience of millions of online patients, we seek to further expand our partnership with health consumers,” said Ido Hadari, Treato CEO. “We are very pleased to welcome Christine on board and look forward to benefiting from her extensive experience and leadership in expanding Treato’s market presence and in enhancing our product offerings.”
In her new roles, Petersen will lead Treato’s global marketing initiatives and oversee development and growth of the company’s consumer health business.
Peterson most recently worked at TripAdvisor, where between 2004 and 2013 she served as the company’s first chief marketing officer and then as president of Trip Advisor for Business.
Earlier in her career, she held executive positions at American Express, Travelocity, Fidelity Investments and Charles Schwab & Co. She earned a bachelor’s in economics from Colby College and an MBA from Columbia University.
#b#New in Town#/b#
Evotec, 303B College Road East, Princeton 08540.
Evotec, a German pharmaceutical company, is opening a location on College Road East to make reagents for the pharmaceutical and agrochemical industry. The company has leased 11,500 square feet of R&D and laboratory space and is expected to employ 40 people, according to National Business Parks, the owner of the complex.
Banc3 Inc. Consulting Engineers, 300 Alexander Park, Suites 250 and 350, Princeton 08540; 609-448-6776; fax, 609-448-5590. Babu Cherukuri PE, president. www.banc3.com.
The Army Research, Development and Engineering Command has awarded a total of $35 million in contracts to BANC3 Inc., a defense IT firm.
“We are very pleased that the US Army again has acknowledged BANC3’s previous successful support efforts and we look forward to partnering with CERDEC Directorate in continuing to provide to intelligence gatherers, decision-makers, and warfighters on the front lines the innovative technology solutions and tools necessary to act with speed and confidence,” said Babu Cherukuri, president of BANC3.
Under the contracts, BANC3 will provide technical research, development, and engineering services related to the Low Profile Displays and Light Weight Sensors Component Technology programs. The company will develop small, lightweight direct/indirect view imaging sensors, micro-display technology, advanced optics, digital image processors, and corresponding software and Advanced Laser Technology, including the Small Tactical Optical Ranging Module, the Grenadier Laser Range Finder II, the STORM Pre-Planned Product Improvement and the Handheld Optical Augmentation programs.
BANC3 will assist with technology integration, installation, testing, and support for various defense IT programs for the military.
Niteo Partners: An NEC Company, 4 Independence Way, Princeton.
Niteo Partners, an IT consulting company, has left its Independence Way office. A 2011 press release indicated that NEC was merging Niteo into its operations. The website now is redirected to NEC.
Samuel H. Moffett, 98, on February 9. A scholar of Christianity in Asia, he was a professor of ecumenics and mission at Princeton Theological Seminary.