The SageTrader team includes a staff of seasoned professionals who have successfully developed and enhanced client focused business models at both Sage Clearing and PreferredTrade over the last 30 years. The firm's roots began in the clearing of option market maker business on the floors of the options exchanges. Preferred Trade was formed as a sister company to handle customer business for professional traders, as both a clearing firm and executing broker, with memberships on almost all exchanges, including the New York Stock Exchange. PreferredTrade was one of the earliest brokers to offer stock and options online trading access for active and professional traders.
After selling Sage Clearing in 1998 and selling Preferred Trade in 2005, the SageTrader team reacquired the Sage proprietary system in 2013 and is employing it to grow an introducing broker business.
The SageTrader Team
Doug Engmann - Chairman of the Board of Managers
Doug is the Chairman of the Board of Managers of Sage Brokerage Holdings, LLC, the parent of SageTrader, LLC. He is a former options market maker, has more than 35 years' experience in the trading world. He was the co-founder of Sage Clearing Corporation, one of the largest clearing firms for options market makers. He also was the co-founder of PreferredTrade, which was one of the leading online firms for options traders. Sage was sold in 1998 to ABN AMRO and PreferredTrade was sold in 2005 to Fimat (later Newedge USA). He also served as CEO of ABN AMRO Clearing, a global division of the prime brokerage, futures and professional securities businesses of the bank. At Fimat Preferred (later Newedge), he served as Head of North American Equities and pioneered the adoption of customer portfolio margin in the industry under the 2005 SEC pilot program. Fimat Preferred was one of the first brokers to offer customer portfolio margin under the fully approved rules in 2007. A former Board member of the OCC and NSCC, Doug is recognized as a leader in the industry and as an authority on options trading and clearing, portfolio margining, risk management and securities regulation.
Dan Weingarten - CEO
Dan joined Sage after 7 years at Investment Technology Group (ITG), where he was responsible for their US Sell Side business with a focus on providing trading and technology solutions to US Broker-Dealers and trading firms. Before ITG, from 2007- 2010, Dan was co-head of Global Sales and Strategy at Penson Worldwide where he supervised the sales and business expansion for their global, multi-asset, clearing and execution business. From 2003-2007, Dan was co-head of sell-side transaction sales at NYFIX Millennium, an electronic execution broker and operator of the Millennium ATS, the industry’s first continuous non-displayed Alternative Trading System(ATS). Dan got his start in electronic trading at the Island ECN where he was responsible for new business sales to both institutions and broker/dealers. Additionally, Dan spent time in trading, sales, and product roles Credit Suisse and at TD Waterhouse (now Ameritrade). Dan is a three-term board member of the Security Trader Association of New York. Dan is a graduate of the University of Delaware with a BS in Business Administration.
Sean Malloy - MD/ Global Head of Sales
Sean's role at ED&F Man was SVP, Head of Sales and Trading. Prior to ED&F Man, Sean was Global Head of Sales at Penson Worldwide and President of Penson Execution Services Inc where he was integral to global sales, global market expansion and strategy. Previously Malloy was the co-head of sellside transaction sales at NYFIX, leading a business development effort at NYFIX Millennium and responsible for the overall growth and development of transaction products including DMA, wholesale execution and algorithmic trading. During their tenure Millennium volumes grew from under 5 million shares per day in 2003 to over 120 million shares per day. Malloy joined NYFIX in October 2003 from Southwest Securities, Inc., where he directed the sales and marketing of the firm's clearing and execution services business. A graduate of the University of Maryland, he worked in several technology and financial services companies during the 1990s, including Wang Laboratories , Montgomery Securities, Newsware, Inc. and Integral Development Corporation.
Mark Bold - CFO
Mark has more than 30 years of experience in the securities industry and recently served as the interim COO of VTrader Pro, LLC during its restructuring and transition. In addition, he is a Senior Advisor with Engmann Options on assignment to several large foreign banks focusing on professional clearing strategies and customer portfolio margin procedures and applications. Between 2005 and 2008, Mark was the COO of the Equity Clearing Division of Newedge/Fimat, and from 2002-2005, he was the President of PreferredTrade. From 1982 until 2001, Mark was a senior executive at Sage Clearing and ABN AMRO Sage. Mark is recognized as an industry expert in regulatory compliance and operations for both the professional trading and retail customer businesses.
Tom Facchine - Chief Compliance Officer
Tom has over 30 years of securities industry experience holding senior level roles covering broker dealer management, supervision and compliance. Tom most recently held Senior Compliance Officer Roles at GTS Securities and KCG Americas. He also held Chief Compliance Officer Roles at GETCO Securities and GETCO Execution Services where he was responsible for compliance and surveillance operations encompassing market making, proprietary trading and customer facing execution services. Tom began his career on the NYSE Floor where he became a highly regarded NYSE Member and NYSE Executive Floor Governor serving on multiple NYSE committees addressing market structure, rulemaking and technology oversight. As Managing Director at NYSE market maker LaBranche & Co he was responsible for risk trading, operations and corporate listing relationships. Later, as Business Leader at GETCO he played a key role in integrating high frequency strategies and technology into traditional exchange-based market making operations. Tom carries a BS in Finance from Fairleigh Dickinson University and an MBA in Finance from Fordham University.
Michael Forsythe - Chief Operating Officer
Michael has nearly 30 years of experience in the securities industry. He has been with SageTrader since 2013 and was made COO in 2016. From 2012-13, he served as Vice President at ED&F Man, in the Brokerage/Capital Markets group. Previously, Michael was a Senior Vice President of Equity Prime Services at MF Global providing execution, custody, and clearing for hedge funds and professional traders. Prior to MF Global, he was Vice President of Equity Client Services at Newedge USA LLC, where he established and managed the client service group for all equity relationships. Michael is a graduate of Providence College and began in the industry working for Fidelity Investments in 1991.
Patrick Blackburn - Board Member
Patrick will bring his extensive experience and expertise to the Board and provide assistance to management on execution strategy. Patrick was Head of Merrill Lynch's Broadcourt Execution Services from 2004 to 2008 and Head of Professional Execution Services for ABN AMRO from 1997 to 2004. Currently he is a consultant with Oyster Consulting, a securities compliance firm.