exceptional people and products

Explore our beginnings

Our unparalleled technology and expert traders excel under the best and the worst market conditions.

SINCE THE START

We've never stopped growing and innovating

Trillium’s core management team pioneered the electronic trading industry, beginning their careers in the mid-1990s.

Our Progress

ISLAND ECN

The first electronic order matching system, now the foundation of NASDAQ's system architecture

DATEK ONLINE

A retail online trading business sold to Ameritrade for $1.3 billion in 2002, and now known as TD Ameritrade

TRILLIUM TRADING

Trillium, a premier trading and technology firm, is established in 2003

TRILLIUM LABS

In 2013, Trillium's in-house software development group spun off and became Trillium Labs

TRILLIUM FUNDS

In 2014, Trillium opened its first fund to outside investors, a long-only value strategy managed by one of Trillium Trading's most successful traders

CHICAGO

Trillium's presence expands westward with the opening of a new Chicago trading floor in 2015

TODAY

We grow with a real dedication to innovation within the financial sector.

135

Trillium Traders

4

US Trading Floors

15,000,000

Average Daily Volume

Our Leadership

Lee Maschler

Chairman

Barry Schwarz

Chief Executive Officer

Michael Friedman

General Counsel & Chief Compliance Officer

Dan Balber

Head Trader

Diana Cucciniello

Chief Financial Officer & Chief Operating Officer

Howard Teitelman

Chief Strategy Officer

Erik Gordon

Chief Technology Officer

Cary Grill

Director of Human Resources

Lee Maschler

Chairman

Lee Maschler is Trillium’s founder, non-executive Chairman, and principal owner.

Over his 18 years in the electronic trading industry, Lee has also founded or co-founded Lion Cave Capital, Castle Financial Management, Castle Strategic Trading, and Hubb Solutions.

In 2012 Lee and his wife Marjorie launched the Lee and Marjorie Maschler Charitable Fund, which supports education, arts, and sciences. One of its first projects has been to co-found and support the SI Sandy Relief Fund, a charity to help families on Staten Island hit hard by Hurricane Sandy.

Lee graduated from Cornell University and is currently a visiting lecturer for the Cornell Financial Engineering in Manhattan Master’s program. He resides in Princeton, NJ with his wife and three children.

Barry Schwarz

Chief Executive Officer

Over his 20 year career on Wall Street, Barry has held a wide range of high-level positions, and is now Trillium’s Chief Executive Officer.

Barry began his Wall Street career as a private psychology clinician providing consulting and counseling to the trading community.

He rose to executive positions at Heartland Securities and Datek Online, served as a director of LightSpeed Financial and two other closely held trading entities, worked as a registered principal at Trillium’s former broker-dealer affiliate, and served as the liquidating trustee of Heartland.

Barry received BA and MS degrees in counseling from Queens College. He resides in Woodbury, Long Island with his wife and three children.

Michael Friedman

General Counsel & Chief Compliance Officer

Michael supervises Trillium’s regulatory compliance and designs Trillium’s compliance technology.

Michael joined Trillium in 2012 after working for several years as Trillium’s outside regulatory counsel while a partner at the law firm of Winston & Strawn. Over his 13-year career at Winston, he represented a wide variety of securities firms, banks, issuers, and investors in securities litigation in state and federal courts and before regulators.

He currently serves on the boards of two film industry non-profit organizations, the National Board of Review and the Moving Picture Institute. His articles have been published in The New York Law Journal, The Deal Magazine, and in 2009 he was awarded the Burton Award for excellence in legal writing.

Michael received a BA cum laude from Princeton University and a JD from Northwestern University. He lives in lower Manhattan with his wife and two sons.

Dan Balber

Head Trader

Dan brings more than two decades of electronic trading experience to his role as Trillium’s Head Trader.

As Head Trader, Dan is responsible for allocating capital and managing risk for Trillium’s 100+ traders as well as running the day to day management of all equity trading operations.

He has lectured on electronic trading at Columbia University’s Fu Foundation School of Engineering and Applied Science, and served as an expert witness in civil securities litigation. He has also served on the advisory board of Whole Brain Creativity, an online personal assessment technology start-up.

Dan received a BA in Economics from the University of Pennsylvania. He lives in Chappaqua, NY with his wife and two sons.

Diana Cucciniello

Chief Financial Officer & Chief Operating Officer

Diana’s career spans over 17 years of experience in financial operations and management.

Diana has served as Chief Financial Officer of King Financial Services, Inc., a self-clearing broker dealer, which cleared approximately one billion shares a month at its peak.

She and her husband volunteer with and donate to Hurricane Sandy charities and victims, and are advocates and donors to children’s cancer related organizations.

Diana received her Bachelor’s degree in Accounting and Finance from Caldwell College. She resides in New Jersey with her husband and two sons.

Howard Teitelman

Chief Strategy Officer

Howard has over 19 years of electronic trading experience, which he uses as a liaison between Trillium’s traders and technology team.

Prior to joining Trillium, Howard worked at General Electric’s Research and Development Center in Schenectady, NY and constructed a statistical model to determine default risk associated with sub-prime auto loans.

Howard has lectured on trading and technology in the financial markets at the School of Engineering and Applied Science at Columbia University.

He received a BS in Engineering Management Systems and an MS in Operations Research, both from Columbia University, where he was selected as an early inductee into Tau Beta Pi, the National Engineering Honor Society and Omega Rho, the International Operations Research Honor Society. He lives in Teaneck, NJ with his wife and five children.

Erik Gordon

Chief Technology Officer

Erik oversees the development of Trillium’s robust suite of electronic trading systems and software.

Over his 18-year career, Erik has lent his technical expertise to various start-ups, research laboratories, and financial services institutions.

In 2010, Erik was appointed to the Advisory Board for the Department of Mathematical Sciences at NJIT. His widely varied body of work has led to publications, patents, and talks at major research centers.

A published mathematician, Erik received his BS summa cum laude and MS degrees in Applied Mathematics from the New Jersey Institute of Technology. Erik lives in West Windsor, NJ with his wife and two children.

Cary Grill

Director of Human Resources

Cary acts as a teacher and mentor to incoming traders while helping to manage current active traders in the firm.

Before becoming Director of Human Resources and Head Recruiter, Cary spent 12 years as an active trader, trainer, mentor, coach, and trading innovator.

Active in the short-term US equities markets for over 20 years, he holds the record for most consecutive positive trading days in the history of the firm.

Cary earned a BA from the University of Maryland and a Human Resource Directors Certificate from the School of Industrial and Labor Relations at Cornell University. He lives in Livingston, NJ with his wife and two daughters.

What We Do

Proprietary Equities Trading

Our traders have thrived throughout a decade of difficult market conditions, and consistently find the best opportunities to always move Trillium forward.

How We Trade

Cutting-edge Technology

Trillium Labs, our in-house development team, stays ahead of changes in the industry by bringing us new trading tools and product features every day.

Meet Surveyor

Investments in Tomorrow

Trillium's funds manage the long-term portfolios of some of Trillium’s top veteran traders, and are open to accredited investors.

Access Funds