David E. Rutter
{{short description|American financial services executive}}
{{Orphan|date=July 2021}}
{{Infobox person
| name = David E. Rutter
| image = David E Rutter.jpg
| alt = David E. Rutter at R3's CordaCon event in New York City.
| caption = David E. Rutter in New York City in 2017.
| birth_date = {{Birth year and age|1962}}
| birth_place = United States
| education = Villanova University
| occupation = Business executive, entrepreneur
| years_active =
| known_for = Founder and CEO of blockchain company R3
| notable_works =
}}
David E. Rutter is an American financial services executive. He is the founder and chief executive of R3, a blockchain technology company, and the founder and owner of LiquidityEdge, a trading platform for US Treasuries.{{Cite web|url=https://www.wsj.com/articles/startups-aim-to-overhaul-trading-in-worlds-biggest-debt-market-11552901400|title=Startups Aim to Overhaul Trading in Treasurys|last=Wirz|first=Matt|website=WSJ|language=en-US|access-date=2019-07-29}}{{Cite web|title=David Rutter, R3CEV Llc: Profile and Biography|url=https://www.bloomberg.com/profile/person/1782076|access-date=2020-10-12|website=Bloomberg.com|language=en}}
Education
Rutter received a Bachelor of Science degree in business administration from Villanova University in 1984.{{Cite web|url=http://www.marketswiki.com/wiki/David_Rutter|title=David Rutter – MarketsWiki, A Commonwealth of Market Knowledge|website=www.marketswiki.com|access-date=2019-07-23}}
Career
Rutter worked in the electronic broking division at ICAP Plc for ten years,{{Cite web|url=https://www.ft.com/content/e0f43a90-6c42-11e1-8c9d-00144feab49a|title=Rutter to leave as head of Icap unit|website=Financial Times|language=en-GB|access-date=2019-07-29}} becoming chief executive in 2009. He managed the BrokerTec fixed income and EBS foreign exchange platforms.{{Cite news|url=https://www.reuters.com/article/icap-hires-idUSL5E8GL7Z720120521|title=Icap unveils top brass across FX and Traiana|date=2012-05-21|work=Reuters|access-date=2019-07-25|language=en}}
Before joining ICAP, he was co-owner and CEO (Americas) of Prebon Yamane. In 1988, Prebon entered into a joint venture with the Chicago Board of Trade that led to the introduction of trading on computer screens.{{Cite web|url=https://www.institutionalinvestor.com/article/b1505plc2n79qy/the-2017-tech-40-david-rutter|title=The 2017 Tech 40: David Rutter|website=Institutional Investor|language=en-gb|access-date=2019-07-23}}
In 2014, Rutter founded R3,{{Cite web|url=https://www.businessinsider.com/david-rutter-on-r3cevs-plans-for-corda-and-blockchain-after-raising-107-million-2017-6|title=This Wall Street veteran has raised $107 million to build the 'app store' of financial services|last=Williams-Grut|first=Oscar |website=Business Insider|access-date=2019-07-23}} a software developer that built the blockchain platform Corda.{{Cite news|last=Irrera|first=Anna|date=2017-10-03|title=Bank-backed R3 launches new version of its blockchain|language=en|work=Reuters|url=https://www.reuters.com/article/us-r3-blockchain-idUSKCN1C80MS|access-date=2020-10-12}} The aim of the company was to build blockchain applications for banks to supplement or replace their "creaking" computer systems.{{Cite news |last=Wild |first=Jane |date=2017-01-27 |title=Blockchain believers hold fast to a utopian vision |url=https://www.ft.com/content/a12d7476-bc6a-11e6-8b45-b8b81dd5d080 |access-date=2025-05-23 |work=Financial Times}}
Rutter founded LiquidityEdge in 2015 to provide an alternative trading model for US Treasuries.{{Cite web |last=Wirz |first=Matt |title=Startups Aim to Overhaul Trading in Treasurys |url=https://www.wsj.com/articles/startups-aim-to-overhaul-trading-in-worlds-biggest-debt-market-11552901400 |access-date=2019-07-23 |website=WSJ |language=en-US}} {{Cite web|url=https://www.bloomberg.com/news/articles/2015-06-24/liquidityedge-wants-to-help-little-guy-in-u-s-treasuries-market|title=LiquidityEdge Wants to Help Little Guy in U.S. Treasuries Market|website=www.bloomberg.com|access-date=2019-07-25}} LiquidityEdge was acquired by MarketAxess in November 2019 for $150 million, including $100 million in cash and 146,450 shares of MarketAxess stock.{{Cite web|url=https://www.thetradenews.com/marketaxess-completes-150-million-liquidityedge-acquisition/|title=MarketAxess completes $150 million LiquidityEdge acquisition - The TRADE|website=www.thetradenews.com|access-date=2019-11-10}}
In 2020, Rutter launched LedgerEdge, a company that uses blockchain technology to digitise corporate bond trading.{{Cite news|date=2020-07-14|title=Bond Veteran Harnesses Blockchain to Digitize Credit Trading|language=en|work=Bloomberg.com|url=https://www.bloomberg.com/news/articles/2020-07-14/liquidityedge-founder-rutter-shifts-from-treasuries-to-credit|access-date=2020-10-12}}
In 2025, R3 made an agreement to link Corda to the Solana blockchain. This would create a way for its banking clients to create crypto tokens and trade global stocks, bonds and funds.{{Cite news |last=Stafford |first=Philip |date=2025-05-22 |title=Big banks strike deal to move to solana blockchain |url=https://www.ft.com/content/a5ce4610-10b0-4544-a704-9bf02892f531 |access-date=2025-05-22 |work=Financial Times}} Rutter welcomed the changed attitude to blockchain of the Trump presidency, saying that R3 would expand in the US after focusing on more regulated markets in other countries.{{Cite news |last=Stafford |first=Philip |date=2025-05-03 |title=Trump’s crypto-friendly stance lures firms to US market |url=https://www.ft.com/content/dc5f80ae-513b-48a3-ae88-a53fbbdce883 |access-date=2025-05-22 |work=Financial Times}}