William R. Harts is a management consultant known in the financial services industry as a pioneer of automated market making and algorithmic trading, as well as an authority on financial market structure and applied technology. Most recently, Mr. Harts was Managing Director and Head of Equity Strategy for Banc of America Securities. He has also held executive positions including Executive Vice President of Corporate Strategy for The NASDAQ Stock Market, Inc., Managing Director of Strategic Business Development and head of Automated Market Making for the Global Equity Division of Salomon Smith Barney. Early in his career Harts was a consultant for Fischer Black s Quantitative Strategies Group at Goldman Sachs, one of Wall Street s first major algorithmic trading businesses