A former single mother and options trader, Jenny Just built a multi-billion dollar business that provides the trading and technology behind popular mobile trading platforms, robo-advisors, and online banks.
No matter what happens, it’s been an incredible run for Apex. Since acquiring the company in 2012, Just has reinvented it as a “fintech for fintechs,” powering the trading and technology for over 200 clients, from digital trading platform Webull to Marcus, Goldman Sachs’ online consumer banking and investing arm.
Apex’s first project was improving the technology behind opening accounts to make it easier for new customers to join OptionsHouse, a process that used to take days and required physical paperwork. “Frankly, when we first started it, it was about keeping ourselves alive,” Just says of her deal to acquire Apex. “We picked our heads up a couple years later, and it turns out a lot of other people needed that technology, too.
As the only girl in a family of five kids, being a female trader among a sea of male traders didn’t phase Just. “I grew up with four brothers,” explains Just, “So it's not a radical surprise that I had chosen to be in a male dominated field. I probably would have, frankly, failed in a totally female dominated industry. I wouldn't have competed like I have — this is what I knew. This is my comfort zone,” she explains.
Areas where Apex has stood out — such as providing custodial services for cryptocurrencies — will see increasing competition in future years, and the proliferation of zero commission trading forces firms to take a hard look at all their costs. Apex is profitable, reeling in $36 million in net income on $146 million of revenue in the first quarter of 2021, compared to $7 million in net income on $73 million of revenue from the first quarter a year ago, but its $4.
As the head of a tech and finance firm, Just is keenly aware of the gender imbalance that exists in the workplace, but even she initially struggled to get more women into the firm. In 2016, she started an intern program called the “Trading Experience for Women” at Peak6 Capital Management. The options trading firm began with seven women in the program, and has trained 40 women since its inception.
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