Rialto Markets: Our story so far
Rialto Markets LLC, a FINRA Member broker-dealer, aims to empower companies to raise money through our unrivalled expertise in crowdfunding and institutional investment. For this, Rialto offers its Primary and Secondary services as a licensed broker-dealer in all 50 states and Puerto Rico.
Rialto Primary supports companies looking to raise capital and issue equity and debt securities using Regulation A+, Regulation CF and Regulation D, by providing the companies with an administrative and compliance infrastructure to receive and process investments and issue shares using online methods to retail and accredited investors.
Rialto Secondary supports the secondary markets for private shares through the Rialto MarketBoard, our Alternative Trading System (“ATS”), for trading shares of private companies, including those that may have been issued and digital securities.
Here’s what Joel Steinmetz and Shari Noonan, two of our founders, have to say about Rialto Markets:
”Rialto Markets provides a marketplace through its Alternative Trading System for investors to monetize their investments earlier rather than being restricted by delayed access” – Joel Steinmetz, Rialto Markets Co-founder and COO.
“Trading shares used to be restricted to certain companies that could afford to publicly list on a platform such as the New York Stock Exchange or NASDAQ, but a secondary market for private company shares operating similarly, opens up trading liquidity and, ultimately, price discovery” – Shair Noonan, Rialto Markets Co-founder and CEO.
Meet the Team
CEO & Co-Founder
Shari Noonan has more than 20 years of experience in the financial services industry. Shari has extensive experience in building and scaling operations and product development with Deutsche Bank, Goldman Sachs, and Instinet and was instrumental in the electronification of the equities market. Shari was involved in deal flow analysis and governance activities in strategic acquisitions in her role as COO of Global Equity Trading and COO of Global Electronic Trading at Deutsche Bank and while in Trading Management at Goldman Sachs. Recognizing the obstacles for issuers and investors in the private placement market, Shari saw an opportunity to leverage the founding team’s collective experience to bring efficiency to inefficient markets, inspiring her to co-found Rialto. Shari received a B.S. in Accounting from Marquette University and an M.B.A. from Columbia University and holds Series 3, 7, 24, 55, 63 registrations.
COO & Co-Founder
Joel Steinmetz brings more than 20 years of financial services experience to the Rialto Markets team. Joel has led efforts in building trading platforms, algorithmic systems, as well as new businesses while at Citi, Citadel, Instinet and Liquidnet. He has been involved in numerous transactions in capital markets at Citi and Instinet, and has performed deal flow analysis, structuring, and strategic integration. His experience spans the universe of business strategy, data analysis, and technology. Recognizing the obstacles for issuers and investors in the private placement market, Joel saw an opportunity to leverage the founding team’s collective experience to bring efficiency to inefficient markets, inspiring him to co-found Rialto Markets.
CMO & Co-Founder
Rob Noonan has more than 20 years of experience in the financial services industry across the capital structure. Largely focused on pricing, data, and analytics, Rob improved Thomson Reuter’s pricing methodology with 90% greater efficiency while managing the High Yield Fixed Income Pricing Desk. Previously at Instinet, he worked as a sales trader on their ATS, matching large buy side equity order flow. Recognizing the obstacles for issuers and investors in the private placement market, Rob saw an opportunity to leverage the founding team’s collective experience to bring efficiency to inefficient markets, inspiring him to co-found Rialto Markets. Rob received his B.S. degree in Finance from Marist College.
Chief Compliance Officer
Jim Caboy brings more than 20 years of experience in the financial services industry. Jim has supported Trading, Investment Banking, Research and Operations over the years, empowering firms to operate successfully within SEC/FINRA regulations. Previously at Liquidnet, Jim was integral in the development of in-house trading software, including market risk and regulatory reporting functionality, policies and procedures and other general broker dealer requirements. Jim received his B.S. in Political Science from the University of Delaware, and maintains Series 7, 24, 55, 63 registrations.
Executive Assistant to the CEO
Shawn Dunphy brings more than 10 years of administrative expertise to Rialto Markets. Prior to joining the Rialto Markets team, Shawn supported the Chief Marketing Officer and her team at New Avon. A proven top performer, he served as the logistical backbone for the global heads of Compensation and Learning & Development at Willis Towers Watson. Shawn is a licensed Notary Public for the State of New York.
Lee E. Saba
CTO & Head of Market Structure
Lee Saba brings more than 20 years of experience in the financial services industry. Prior to joining Rialto Markets as Head of Market Structure, Lee was Managing Director and Principal at Wellington Management where he was responsible for proprietary and third party multi-asset electronic trading and connectivity infrastructure. For over 17 years, Lee led and contributed to industry standards on a variety of concepts including FIX post-trade for equities, futures and FX, execution venue normalization, risk mitigation symbology and electronic trading risk controls. While at Wellington, Lee headed the inaugural IT FinTech Working Group and was a vocal advocate of the investor hub for blockchain and digital assets research. Lee currently serves as the co-chair for the FIX Trading Community (https://www.fixtrading.org) consisting of 290+ members worldwide and is also an active steering committee member for Northeastern University’s D’Amore-McKim School of Business FinTech Initiative.
Head of Operations
Ryan Simmons has over 20 years of experience in the financial services industry, focusing on Operations and Client Services. Ryan has formed and managed teams within equity trading operations, securities middle office and settlements, operations client relationship management, client transition and onboarding, and operations efficiency strategies at Deutsche Asset Management, Goldman Sachs and Morgan Stanley. Ryan started his career at the New York Stock Exchange where he worked as a runner and is now leading the effort to bridge the divide between traditional capital markets and digital securities with a focus on operational efficiency, risk management, and the client experience. Ryan received his B.A. from New York University and holds Series 7, 27 & 55 registrations.
Head of Business Development & Partnerships
Greg Sullivan leads Rialto Markets’ advisory services team. He has more than 20 years of experience in the financial services industry with extensive product knowledge across multiple asset classes and a proven track record of building relationships with buy-side, sell-side, and other industry participants. Prior to Rialto Markets, Greg served as Head of Business Development for ERC dEX, a trading platform for ERC20 tokens. Previously, Greg was an institutional convertible bond salesperson at Lehman Brothers and Royal Bank of Canada. Greg received a B.A. in History from Ohio Wesleyan University and holds Series 7 & 63 registrations.
Charles Senatore is a member of the Massachusetts Securities Division’s Fintech Working Group. He serves as a Professor of Compliance and Regulatory Strategy at the University of Chicago Law School and is a guest lecturer at Harvard Law School, NYU Law School and Northeastern University. A former head of risk oversight for Fidelity Investments’ Devonshire Investors unit focusing on compliance, risk, and regulatory affairs for Fidelity Investments’ private equity, venture, and strategic investing efforts. Mr. Senatore headed global compliance programs at Fidelity Investments and Merrill Lynch.
Sarah is an entrepreneur, executive & educator with experiences founding start-ups and innovating in large, incumbent firms in the Financial Services, Life Sciences and Telecom sectors. Sarah is the Executive Director of Vantage Ventures and the co-Founder of FinTech Sandbox, a Boston-based not for profit that provides entrepreneurs access to high quality data sets, and Capital Market Exchange (CMX), a predictive analytics platform for institutional bond investors. She was most recently the Chief Operating Officer for Innovation at State Street Bank’s Global Exchange division and Head of Innovation Ventures. Sarah was named by Innovate Finance as one of the Top 150 global women leaders in FinTech and Lattice80’s list of Top 100 Women in FinTech in the UK and Hong Kong. She has held roles at Fidelity Investments; worked on MCI’s corporate venture team; and launched and led research divisions for Fortune 500 CFO’s and treasurers at the Corporate Executive Board.
Tom is a senior financial services information and digital media executive with over 30 years of operating experience in both U.S. and international markets. Tom has a proven record as a senior leader in both public and private companies. Tom’s broad skill set includes public board and committee stewardship; management; technology; operations; new business ventures; acquisitions; capital raising; and innovative new product development. Tom currently is a Managing director at KHTC Capital. He was the CEO of Weiss Group and TheStreet.com.