KOR Group is the only independent market structure research and analysis firm.


KOR Group LLC is an analytics and trading compliance consultancy specializing in best execution, order routing, venue and algorithmic level trading performance and in-depth market analysis.  Today’s trading markets are highly complex and you cannot afford to overlook the latest changes in market policy that affect your business.

We pride ourselves on our independent and unconflicted business model. This is why our clients, while primarily institutional asset managers and registered investment advisers, also include stock exchanges, alternative trading systems, trading firms, US government agencies and more.


Our Team

Our team has decades of experience in US and international equity, futures and options markets. We have worked at a detailed level on projects ranging from technology architecture and low latency trading system development to order routing and transaction cost analysiis.

KOR's development team includes former high-frequency traders and quantitative analysts, who specialize in big data, machine learning and web applications. KOR's partners include securities law and regulation specialists, stock lending and borrow analytics, compliance risk consultants and front-end designers.



Chris is a 30-year veteran of Wall Street with deep trading and US market-structure expertise. Chris was previously was a managing director of order routing and market-data strategy at TD Ameritrade where his responsibilities included developing and implementing best execution, routing technology and execution analytics, as well as developing routing and execution strategy. During his 12+ years with TD Ameritrade, Chris also co-headed the firm’s government relations efforts. Prior to his time at TD Ameritrade, Nagy worked with US Bank, MJK and Shearson Lehman Brothers. Chris has served on a multitude of industry committees and exchange boards, including Vice Chairman of the Philadelphia Stock Exchange, NYSE AMEX Options Exchange, Nasdaq Quality of Markets Committee, Security Traders Association Trading Issues Committee, Options Industry Council Roundtable, and as Chair of the SIFMA Options Committee.



Dave has extensive experience designing and building the infrastructure that underpins many modern electronic trading and matching systems. This experience includes designing and building large scale high-frequency trading platforms, quantitative research platforms, electronic order matching platforms and recently a robo-advisory order processing and web platform.

Dave sits on the board of Aequitas, a new Canadian stock exchange, as an Independent Director, and chairs the Regulatory Oversight Committee. Dave's previous work includes technology architecture consulting for SEI, Verdande Finance and IEX Group, public advocacy at Better Markets, and electronic trading at Allston Trading and Citadel Investment Group.

KOR's Development Team

Quantitative Analyst

Rachel is a senior quantitative analyst and project lead with experience in economic modeling and operations research. Rachel's current work focuses on robo-advisors and development/ maintenance of investment advice models. Her past experience includes developing software systems to streamline research and processes at The Foundation Center and research work at NERA.

Rachel has a master's degree in Mathematical Finance from Boston University. Rachel is passionate about helping animals, and volunteers her time with local animal shelters. She also volunteers with Students Run Philly Style.


Senior Developer

Nils has spent 23+ years developing software on a variety of platforms and industries. The past 16 years Nils has primarily developed software in the financial industry, ranging from mortgage banking to high-frequency algorithmic trading. Nils specialized in low latency, lock-free feed processing that scaled to millions of events per second. Nils is particularly interested in newer development and web technologies. 

Nils sits on the Loyola CS/IT Program Advisory Committee and has authored and contributed to several open source projects.

Senior Analyst

Zak is a developer and quantitative trader whose work has focused on the design and development of automated trading systems, sophisticated simulation environments, and statistical software for high-frequency and algorithmic trading across a variety of markets and exchanges.

Zak continues studies in math and economics at Northwestern University, while contributing to ongoing interdisciplinary research in market structure at the Copenhagen Business School.

Contact us for more information on our services, opportunities for partnership, or just for excessive market structure debate.