Key Takeaways
- • James Rubinstein, former head of execution services at hedge fund ExodusPoint, joined electronic market maker GTS Securities as a managing director approximately two weeks prior to the December 4, 2025 publication date, based in New York.
- • Rubinstein brings 13 years of experience from UBS (until 2018) where he headed algorithmic trading and analytics, followed by roles at Deutsche Bank (2.5 years), BNP Paribas, Liquidnet, and most recently ExodusPoint.
- • GTS Securities commands approximately 5% of US daily cash equities volume and operates across both equity and fixed income markets, positioning the firm as a significant player in electronic market making.
- • The hire signals potential expansion at GTS, with indications that Rubinstein may be building a team in his new role at the market-making firm.
Summary
James Rubinstein, ExodusPoint's former head of execution services, has transitioned to electronic market maker GTS Securities in a managing director capacity. The move represents a notable shift within the institutional finance recruitment landscape, as Rubinstein departed from the hedge fund sector to join a pure market-making operation approximately two weeks before early December 2025. His new position is based in New York.
Rubinstein's career trajectory reflects substantial experience across major financial institutions. He spent the majority of his career—nearly 13 years—at UBS, where he served as head of algorithmic trading and analytics until 2018. Following his UBS tenure, he held a 2.5-year position at Deutsche Bank before taking on brief assignments at BNP Paribas, Liquidnet, and ExodusPoint. His expertise in execution, algorithmic trading, and market structure positions him as an experienced hire for GTS's operations.
GTS Securities operates as a significant electronic market maker, capturing approximately 5% of US daily cash equities volume while maintaining operations in fixed income markets as well. The firm's substantial market share underscores its importance in providing liquidity across multiple asset classes. Rubinstein's appointment as managing director appears to carry expansion implications, with reporting suggesting he may be tasked with hiring additional personnel in his new role.
Rubinstein declined to comment on the appointment when approached for this article. ExodusPoint itself has experienced organizational transitions in recent years, with the hedge fund managing approximately $12 billion in assets as of December 2025 after absorbing investor redemptions in 2023.
Rubinstein's career trajectory reflects substantial experience across major financial institutions. He spent the majority of his career—nearly 13 years—at UBS, where he served as head of algorithmic trading and analytics until 2018. Following his UBS tenure, he held a 2.5-year position at Deutsche Bank before taking on brief assignments at BNP Paribas, Liquidnet, and ExodusPoint. His expertise in execution, algorithmic trading, and market structure positions him as an experienced hire for GTS's operations.
GTS Securities operates as a significant electronic market maker, capturing approximately 5% of US daily cash equities volume while maintaining operations in fixed income markets as well. The firm's substantial market share underscores its importance in providing liquidity across multiple asset classes. Rubinstein's appointment as managing director appears to carry expansion implications, with reporting suggesting he may be tasked with hiring additional personnel in his new role.
Rubinstein declined to comment on the appointment when approached for this article. ExodusPoint itself has experienced organizational transitions in recent years, with the hedge fund managing approximately $12 billion in assets as of December 2025 after absorbing investor redemptions in 2023.
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