Michael Halimi


Michael Halimi is the cofounder of Enigma Securities. He is also the cofounder and the current CEO of Makor Group, of which Enigma is a Subsidiary. As Head of Enigma’s executive committee, Michael Halimi brings over 26 years of experience working in capital markets to the digital asset industry. Prior to founding Makor Group in 2011, Michael was Co-Head of Global Equities Sales at Cantor Fitzgerald, where he first established an interest rate derivatives desk. In September 1999, he implemented the European Equity Platform of Cantor Fitzgerald, prior to becoming a senior managing director of the firm in 2007. Michael holds an M.B.A. in Financial Markets from the University of Dauphine in Paris, which he received in 1992.

Avi Bouhadana


Avi Bouhadana is the cofounder of Enigma Securities. He is also the cofounder and the current Director of Makor Group, of which Enigma is a subsidiary. Avi brings with him over 20 years of experience working in capital markets. Prior to co-founding Makor Group, he was a partner and Co-Head of Global Equities Sales at Cantor Fitzgerald, where he worked for 14 years. In September 1999, he implemented the firm’s European Equity Platform, and in 2007 he became a senior managing director. Avi Bouhadana graduated from Ecole Polytechnique of Montreal.

Ian Epstein


Ian Epstein has over 20 years of investment management experience and has held roles including Portfolio Manager at Autonomy Capital, trader, and private equity associate. Ian graduated summa cum laude from the University of California, Berkeley with a bachelor’s degree in Political Economy.

Yedidia Haouzi


Yedidia Haouzi is Chief Technology Officer of Enigma Securities and based in Tel Aviv. Yedidia has over 20 years of development experience in tech, focusing primarily on cloud solutions and AI. Prior to taking the lead on Enigma’s tech development in early 2020, Yedidia spent a decade dedicated to the startup world, working for a variety of companies of different sizes and domains. He began his career completing military service in the cyber division of the IDF (Israel Defense Force), following which he joined the Israel Financial Ministry as a security engineer managing Public Key Infrastructure.

Todd Foreman


Todd Foreman is the Chief Legal Officer of Enigma Securities and Makor Group. He brings with him over 20 years of experience in U.S., English and European Securities Law, finance and regulatory matters. Todd previously worked in private practice at the leading international law firms White & Case and Freshfields Bruckhaus Deringer. He also gained in-house experience at Deutsche Bank, Société Générale, JP Morgan and Barclays. He holds an LL.M. in Banking and Finance Law from King’s College London, a J.D. from the University of Pennsylvania Law School and a B.A. In French and Political Science from Grinnell College.

Natalia North


Natalia North is the Chief Compliance Officer of Enigma Securities and Makor Group. She holds SMF 16 and SMF 17 functions.Natalia brings with her over 25 years of experience in various sectors of the financial services industry, including more than 10 years working in Compliance. After several years at Deloitte and Touche, BNP Paribas Securities Services, Threadneedle Asset Management and other top financial institutions, Natalia joined Makor Securities London Ltd., part of Makor Group, in March 2013, where she manages Compliance and Regulation. She is a Chartered Fellow of the Chartered Institute for Securities and Investment and received a Diploma in Investment Compliance from BPP University. Natalia additionally holds the CISI Certificate in Derivatives and OAQ, and graduated with a First Class Honors M.S. in Mathematical Economics from Plekhanov Russian University of Economics.

Jonathan Issan


Jonathan Issan is the Head of Product Management of Enigma Securities. Bringing with him over 15 years of trading and technology expertise from top banks and hedge funds, Jonathan designs and manages Enigma’s low-latency in-house trading system solutions. Previously, he was a financial engineer and project manager at Makor Group. He was also a trader and an electronic market maker for exotic equity derivatives. Jonathan holds an M.B.A. in Finance from the Paris Graduate School of Management, as well as a Master’s in Mathematics and Information Technology from the University of Dauphine in Paris.

Olivier Sultan


Olivier Sultan is responsible for developing the digital investment products and institutional sales for Enigma Securities. Olivier brings over 15 years of professional experience, both in the investment banking sector and recently the innovative digital-asset startup space. Beginning his career as an equities derivatives trader for various French banks, Olivier worked as the Global Head of Structuring at Commerzbank. He graduated from Sorbonne University with a master's degree in Economics and Economic Modeling, and has a master's degree in Quantitative Finance from École Polytechnique, Paris.

Benjamin Zennou


Benjamin Zennou is the Head of Institutional Sales for Enigma Securities.Prior to Enigma, Benjamin was an equity derivatives broker specializing in European indexes for Makor Group. Benjamin has been involved in the digital asset space since early 2014, holds a M.S. in Management from ESCE Paris and a B.A. in Finance from EBS Paris.

Samuel Leyne


Samuel Leyne heads Enigma Securities’ Institutional Sales and business development efforts in the Europe, Middle East and African regions. Prior to Enigma, Samuel worked as an execution trader for Halister Partner, the asset management branch of Makor Group. He was in the Israel Defense Forces as a Commander in the Golani Brigade and graduated from IDC University in Israel with a double B.A. in Business and Entrepreneurship, with a minor in Finance.