David Rho is a partner in a boutique management consulting firm. He has extensive
`experience developing strategic plans and offering strategic advice to exchanges and
`other large financial institutions, covering such key issues as corporate strategy,
`acquisitions and alliances, new product development, pricing, market data strategy, IT
`strategy, due diligence, exchange automation, trading system design, and market model
`design. His primary responsibilities include generating new business, acting as the
`relationship manager for all major accounts, and providing high level management on
`relevant projects.
`
`Experience
`
`3/2001 - Present MMG Partners, New York, NY
`
`Partner
`
`
` David Rho
`
` Performed research and analysis for ISE for Dr. Moses Ma an expert witness in a lawsuit
`involving the 707 Patent against the CBOE. Worked on infringement claims and refuting
`opposition’s invalidity claims. In this work was able to refute all invalidity claims against the 707
`Patent in our validity report. Used “Means plus Function” and “Doctrine of Equivalence” in our
`infringement report.
` Designed the front office to back office system for four independent broker dealers. The system
`provided a streamlined data-entry system which reduced keying errors, performed automated
`compliance checks, and reduced the turnaround time for approving new business generated by the
`broker dealers
` Determined product offering gaps for a large trading system and a market data firm versus their
`competitors
` Worked with multiple large sell-side and buy-side firms reducing their market data spend. Overall
`examined over 70,000 desks with savings ranging from 20-60%. Overall examined $2 billion in
`spend and realized savings over $532 million working closely with business owners such as
`COO's, desk heads, portfolio managers, and market data managers .
` Developed a business plan for the creation of an electronic stock exchange in Dubai. Assisted
`client in receiving approval for 130 million Euro to create this electronic exchange. After one of
`the vendor partners withdrew, went back and advised the DIFC which was the best option to
`pursue
` Worked on an IT benchmarking study for Deutsche Bourse. This involved benchmarks from
`Deutsche Bourse, Deutsche Bourse Clearing, CBOT, CBOE, CME, Philadelphia Stock Exchange,
`Swiss Stock Exchange, OMX, Milan Stock Exchange, CME Clearing and OCC. Normalized
`results across disparate trading system platforms and architectures to provide like for like
`comparisons
` Examined the overall platform and clearing operations of a major financial services provider.
`Evaluated vendors based on a thorough examination of the client’s internal requirements that had
`the ultimate goal of outsourcing in house systems to the clearing vendor. Matched or exceeded the
`incumbent vendor’s features and functionality against those requirements. Reduced the clearing
`costs by over 30% through aggressive negotiations with the vendors
` Performed due diligence on the NYMEX futures exchange with a large private equity firm and a
`venture capital firm. Analyzed the trading system from a functional and technical perspective
` Utilized proprietary market data usage capture tools, and implemented cost management processes
`and reporting for major sell-side firms. For each firm this included all regions:
`
`TDA 1021
`CBM of U.S. Patent No. 6,766,304
`
`0001
`
`

`
`o Americas
`o EMEA
`o Asia
` Worked with a large IT software vendor on strategic sourcing of audio conferencing, servers,
`contract programmers, and temporary labor.
` Rationalized market data covering multiple major sell-side firms in the Americas, EMEA, and
`Asia covering multiple asset classes. Utilized proprietary market data usage capture tools, and
`implemented cost management processes and reporting for multiple major sell-side firms.
` Worked on implementing proprietary market data usage capture tools and reporting for one of the
`largest Hedge Funds.
` Worked on implementing proprietary market data usage capture tools and reporting for one of the
`largest Asset Management firms.
` Developed pricing strategies for the market data at a private sell-side firm and the PBOT
` Analyzed the Order Management Systems (OMS) requirements of a Broker Dealer with both
`Institutional and Retail order flow for use as the front-end. Recommended an OMS based on a
`thorough examination of the vendor space comparing their capabilities against the business
`requirements of the client, vetting the vendor’s claims through their client references, and
`analyzing the vendor’s ability to integrate with the current clearing vendor (Pershing)
` Worked with a major insurance company sourcing over $250 million spend in both non-IT and IT
`spend resulting in 15% savings
`
`
`11/1999 – 3/2001 MarchFirst, New York, NY
`
`Consultant, Manager
`
`
`
`
`Implemented a system for distributing messages for a fixed income product working closely with
`the client. Helped to develop the requirements and specifications through Use Case analysis and
`Object Model development
` Evaluated and designed the trading system for a pan-European exchange, during the installation of
`TIB/Exchange with a focus on capacity, scalability, and risks. Developed the market model used
`on the exchange. Involved in a client group investigating technology questions during the
`development and testing period. Created a configuration guide for the specific implementation of
`TIB/Exchange focusing on areas critical for launch as well as providing a methodology for future
`growth. Assessed the Disaster Recovery readiness of the exchange and proposed a cost-effective
`DR solution
` Completed a study of publishing systems for a global news organization to replace legacy
`terminals with modern systems capable of supporting multimedia content and multiple output
`channels including news wire formats, and the Internet. Created a scorecard for evaluating the
`publishing systems with a stress on scalability and flexibility
` Performed a technology overview for a proposed global financial news and commentary web site
`and acted in an advisory role on technology issues. Additionally, initiated a competitive pricing
`exercise to build an editing and delivery system for publishing information on the Internet
` Developed a demonstration web site for the Theatre Development Fund to show how multimedia
`information could be distributed on the Internet
`
`
`6/1992 –11/1999 Massachusetts Institute of Technology Cambridge, MA
`
`Manager of Educational Computing Facility
`
`
` Managed the academic and administrative computing for the Electrical Engineering and Computer
`Science department (Course 6).
`
`0002
`
`

`
` Created a web site designed to replace a paper intensive applications process bringing together
`dynamically generated html, electronically submitted transcripts and recommendation, and storing
`the information in an mSQL database
` Designed and deployed computer labs for various classes
` Supported the computing requirements for professors and administrative staff
` Liaison with the central IT and networking group at MIT
`
`
`Education
`
`Massachusetts Institute of Technology, Cambridge, MA
`Bachelor of Science Degree in Computer Science with Electrical Engineering, June 1992
`
`0003