LOW LATENCY CEOs: Going, Going ... Gone?

CEOs, too, can depart in an instant. Just ask Robert Diamond at Barclays or -- remember? -- Robert Kelly at BNY Mellon. Just who is going to cover that next billion-dollar trading loss? Here's a gallery of CEOs, who can be (or were) here today, gone tomorrow.

Gone: Fred Federspiel, Pipeline Trading

As CEO, Federspiel built up Pipeline into what appeared to be a successful broker of large block trades between institutions. At the end of 2010, the average trade size on its dark pool was 46,350 shares. But then it turned out that Milstream Securities, its brokerage arm, provided most of the liquidity in Pipeline's U.S. dark pool, the Block Market.

Pipeline is now shut down.



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