Lefferts joins Markit in best execution role

Lefferts, who will be based in New York, will focus on developing tools that determine fair value and measure best execution.

He joins from the National Association of Securities Dealers (NASD), where he served as vice-president and head of fixed-income strategy. This role made Lefferts responsible for Trade Reporting and Compliance Engine (Trace) at the NASD’s corporate bond reporting facility. He previously worked at Instinet Group, where he spent 10 years in the equity and debt capital markets divisions.

Kevin Gould, executive vice-president and head of data products and analytics at Markit, said: “David’s experience managing the Trace transparency initiative at NASD will help Markit expand its benchmark data set, and will reinforce our ability to deliver high-quality prices to our clients in compliance with regulatory requirements for best execution.”