Guy Gentile
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Guy Gentile | |
|---|---|
 Guy Gentile on the floor of the NYSE | |
| Born | July 3, 1976 |
| Nationality | Italian American |
| Employer | DayTraderPro |
| Title | Owner of DayTraderPro |
| Website | Official website |
Guy Gentile (born July 3, 1976) is an American business executive, entrepreneur, and high-frequency trading expert. He is best known for founding two high-frequency trading firms.
Career[edit]
In 1999 Gentile founded Speedtrader, currently owned by Stock USA Investments, Inc,[1] (formerly Speed Trader, Inc,[citation needed]). Then in 2011 Gentile founded SureTrader, a division of Swiss Americas Securities, Ltd.[2] In less than a year in operation, SureTrader reported more than 100,000 equity transactions daily.[3] Its success prompted a major expansion[4] to meet scaling demands, and the firm set out to increase staff by two hundred percent during March 2012.[5] By 2012 both SureTrader and SpeedTrader were ranked among[6] Barron's top online brokers.
In May 2012, as Suretrader reported averaging 30,000 transactions daily,[7] Gentile then broke ground on Sur Club,[8] 1.2 million-dollar sushi restaurant offering both a club and dining experience. It received more than 500 advance applications for its opening night.[9]
Lawsuits[edit]
The SEC sued Gentile and sure trader in March 2021 for alleging soliciting U.S. clients from a brokerage in the Bahamas which let American customers bypass pattern day trading restrictions.[10] Gentile countersued the SEC, saying that the SEC should be held in contempt of court for filing the suit against Gentile. Gentile lost the contempt case in March 2022, but currently has a motion pending for sanctions against the SEC and for the case to be dismissed.[11]
In 2019, Guy Gentile's company Mintbroker International Ltd., formerly Swiss America Securities, Ltd (dba SureTrader) voluntarily shut down after it lost its clearing agreement with IB. The Securities Commission of the Bahamas later filed for a court-supervised liquidation.[12]
References[edit]
- ^ "Stock USA Investments, Inc". Bloomberg News. Retrieved 2016-06-06.
- ^ "Swiss America Securities, Ltd". Retrieved 2016-06-06.
- ^ "SureTrader targets $25M in revenue". thenassauguardian.com. Retrieved 8 December 2016.
- ^ "Brokerage to increase staff by 200%". thenassauguardian.com. Retrieved 8 December 2016.
- ^ Administrator. "Online brokerage firm eyes major expansion". thenassauguardian.com. Retrieved 8 December 2016.
- ^ "Barron's top online brokers". Retrieved 2016-06-06.
- ^ "SureTrader.com hits 30K transactions per day". thenassauguardian.com. Retrieved 8 December 2016.
- ^ "$1.2M Sur Club begins construction". thenassauguardian.com. Retrieved 8 December 2016.
- ^ "Sur Club receives 500 applications". thenassauguardian.com. Retrieved 8 December 2016.
- ^ "SEC Charges Bahamian Broker-Dealer and Its Principal with violating SEC registration rules".
- ^ "SEC informant-turned-defendant-turned-accuser loses contempt case". Reuters.
- ^ "Ruling-on-Petition-re-Mintbroker" (PDF).
