About CAE
CAE is a global physical commodity trader addressing the semiconductor market. Initially focused on silicon, CAE considers transactions in any physical asset utilized by a fabrication facility. We work with all levels of a fab, from maintenance engineers to fab managers, to understand their demand and available supply and solve fundamental sourcing and monetization challenges.
CAE enters commodity markets tied to attractive secular trends, but are fragmented and lack central pricing mechanisms, settlement systems, and are without developed derivatives. CAE’s platform then congregates buyer and seller inputs into one algorithmic matching system that looks to behavior, market events, supply, demand, and asset quality to develop solutions for its clients.
CAE provides its clients with unique access to off-market situations, superior pricing, better access to information in competitive situations, and a safe platform to purchase or sell through that mitigates asset, funding, counterparty, and competitive risk.
CAE was founded in 1982 in Menlo Park, CA. CAE is based in Austin, TX, and has offices across the U.S.
advantages
MARKET GROWTH
As the largest semiconductor commodity trader, we create liquidity and make the market effective. Across thousands of situations per year, buyers and sellers entrust CAE to effectively market, fund, and settle their buying and selling activity.
UNIQUE INSIGHT
CAE’s proprietary software, analytics, and market research allow the firm to originate, structure, and execute proprietary opportunities and deliver superior value to our buyer and supplier clients.
A SAFE MARKET
In each transaction, CAE marshals a tailored due diligence process, robust compliance, and risk management, internal physical logistics, and provides a uniquely safe and secure transaction. CAE protects its clients.
our values
OUR SOLE FOCUS IS GENERATING REAL VALUE FOR OUR CUSTOMERS AND OUR EMPLOYEES.
Our Team Principles are the foundation that determines how we function as a company. These principles guide our activities and allow us to deliver value to our customers.
TRANSPARENCY
Our team is highly trained in sourcing and evaluating assets and understanding the context within which they are coming to market. We share our knowledge with you in the most direct, transparent way we can: as a buyer, you are then able to weigh all variables impacting the asset and market and make the most informed decision.
SAFE TRANSACTIONS
Our deep understanding of global suppliers helps buyers safely navigate the risks in each vertical, and ensures that you receive what you expect, as you expect it to be.We provide de-installation, rigging, crating, shipping, storage, and import/export compliance services for even greater transaction control. If there are ever any obstacles, we find a resolution.
COST EFFICIENCY
By creating an efficient, open, and transparent market, true value can be discovered. Many assets that would otherwise be unsalable can be monetized. Assets that hold value can be broadly marketed to accelerate their present value – we find the buyer with the right timing, motivation, and pricing, on a global basis.
team principles
Objectivity
We seek to view each asset and situation objectively and give our clients a sound view into the market and the assets they are buying or selling.
Results
We judge ourselves solely on our ability to make our clients successful. Our actions are only valuable if they generate results for our clients.
Pattern Recognition
We work extremely hard to understand the market in real time. As the market changes, we provide our clients with the insight they need to make informed decisions and take action. By understanding fundamental patterns, we become predictive for our clients.
Meritocracy
Internally, we promote and provide rewards based on merit and merit alone.
Openness
The best ideas win. We don’t care who thought of them or where the idea came from. We value insight and critical thinking above all else.
Commitment
We do what we say we will do and we’re fully committed to generating the best possible outcomes for our clients, employees, and company.
Teamwork
We proactively collaborate. Every client outcome requires extensive coordination and teamwork at CAE. We excel both as individuals and as a team.
Attention to Detail
We ask questions, dig-in, and confirm. We do not leave excellent outcomes to chance. We manage the details so that our clients don’t have to.
Speed
Our priority is always creating opportunities for our clients. When opportunities present themselves, we move with speed and precision to generate value.
Tenacity
Every great achievement results from a challenge and requires effort. We pride ourselves on our commitment to overcome any challenge and persevere in our mission to make our platform a safe, comprehensive, and effective choice for our clients.
Our proprietary extensive information, unique analytics platform, understanding
of the market, and commitment to our clients’ success
separate us from the competition.
GLOBAL DEMAND SIMPLIFYING
SETTLEMENT
GLOBAL DEMAND SIMPLIFYING
SETTLEMENT
GLOBAL DEMAND SIMPLIFYING
SETTLEMENT
advantages For buyers
Comprehensive
We provide unmatched access to assets across the globe.
Effective
Utilizing our platform and team experience, we match your needs to available assets quickly and at the best possible price.
Safety
Our market reach and industry experience enable us to provide an accurate and complete view of the quality of every item. And if something goes wrong at any stage of a transaction, we find a resolution.
Support
Our dedicated settlement team supports import/export compliance, de-installation, rigging, crating, storage, and shipping on a global basis.
advantages For sellers
Purchasing Power
During 2022, we purchased over 1,400 assets on a global basis.
Speed
We move quickly and will immediately fund purchases, often completing deals in less than 24 hours.
Market Reach
In the past two years, we’ve completed deals for over 1,200 returning clients, with more than 500 clients who purchase through our platform on a regular basis.
Cross-manufacturer Focus
We buy across the semiconductor value chain, from manufacturing materials to printed circuit boards.
Simplicity
With CAE, selling is simplified. We gather all information, assist in managing inspections, and organize the post-sale logistics and export process, as applicable.
History Over The Years
CAE is a global physical commodity trader addressing the semiconductor market. Initially focused on silicon, CAE considers transactions in any physical asset utilized by a fabrication facility. We work with all levels of a fab, from maintenance engineers to fab managers, to understand their demand and available supply and solve fundamental sourcing and monetization challenges.
CAE'S Growth
Founding
CAE Founded as a physical semiconductor equipment catalogue in Menlo Park, CA; the first company to create a secondary market for buyers and sellers within the semiconductor industry.
1982
Transition to Global Marketplace
CAE business migrates to online marketplace, begins referral-based market.
1994
Ryan Jacob Appointed CEO; Launch of Trading
Ryan Jacob appointed CEO in January, 2008; Launch of arbitrage trading, first rapid growth phase.
2008
Initial Rapid Growth Phase
Expansion from 5 to 50 employees; creation and implementation of proprietary technology, SEO, training programs, processes; revenue growth from approx. $1MM to $100MM; asset sourcing growth from 1,000 to >100,000 per annum.
2008-2013
Operational Expansion
CAE senior management acquires 100% of CAE; global headquarters moves to Austin, TX; launch of second growth phase: operational expansion.
2014
Acceleration of Proprietary Technology
Launch of the first R&D and Software Engineering office.
2015
Data Expansion; Launch of India Office
Launch of India office enabling 24/7 data coverage globablly and significant expansion of CAE's proprietary dataset.
2016
Launch of Taiwan Office
CAE opens first permanent office in Asia, located in Taipei, Taiwan.
2017
Asia Expansion
Taiwan becomes CAE's Asia HQ; launch of GIS in Taiwan, Korea, Japan, Singapore, Malaysia, Thailand, China.
2018
Launch of Korea Office; Asia Offices Growth
CAE opens permanent office in Seoul, Korea; Taiwan and Korea offices expand to house Trading, Logistics, Compliance, Data Acquisition & Analytics, GIS.
2019
Launch of European HQ
European HQ launched in Budapest, Hungary to house Trading, Logistics, Compliance, Data Acquisition & Analytics, Software Engineering, GIS.
2020
Launch of neural network: CARLSon
CAE Software Engineering team launches proprietary neural network to play critical role within our platform; team members, clients are better served as result of this technologicial breakthrough.
2021
Rapid Trading, Operational Expansion
Trading team growth to nearly 100 team members; promotion of local Directors; Logistics, Compliance teams grow to 30 across North America, Europe, and Asia offices; Software Engineering team doubles in size.
2022
Platform Upgrades; Rapid Growth
Upgrade of industry-leading compliance platform; expansion of teams across all areas to better serve our industry across the Americas, Europe, Middle East, Asia, and Australasia.
2023
Shaping Strategy and Vision
With backgrounds in finance, technology, and client management, our team focuses on creating a safe, comprehensive, and effective market access point. We are deeply committed to creating a firm that delivers excellent client outcomes during every transaction.
Senior Management
Ryan Jacob
Chair
Ryan began his career as a private equity investor at Celerity Partners, a $200 million private equity firm. During his time at Celerity, Ryan focused on technology related de-leveraging, growth equity, and leveraged recapitalization investments. Ryan led and participated in a broad range of new and portfolio company activities. Following Celerity, Ryan worked for Endeavour Capital, a $3 billion private equity firm focused on leveraged buyouts in the Northwestern United States. Finally, Ryan worked in the Palo Alto office of Summit Partners, a $35 billion global private equity group, where he focused on consumer internet, media, enterprise software, and semiconductor-related investments.In 2008, Ryan Jacob became a Chairman and CEO of CAE. Ryan led the development of CAE into a global software and data driven trading platform for the semiconductor market that operates in 10 countries, has over 6,000 clients, over 300 employees, and is the market and technology leader in its space. Ryan became the largest CAE unitholder in a management buyout in 2014.
Ryan serves as Chairman of Jacob Family Holdings, LLC, a private investment company that focuses on investing in private equity and venture capital funds as a Limited Partner, acquiring and managing select private companies, and completing real estate investments in Texas, Utah, and California.
In addition to his leadership role at CAE, Ryan serves on the Board of Texas Semiconductor Technologies, a leading provider of aftermarket parts, systems, and solutions to the semiconductor industry. Ryan serves on the Board of the Prime Bank of Texas, an Austin-based community bank that serves select Texas markets. Ryan is the Chairman of TransformaTx Biotherapeutics, a biotechnology company focused on developing novel therapeutics for Angelman syndrome. Ryan serves on the Board of Sourceability, a global distributor of semiconductor and electronic components. Ryan has served on numerous boards in the past, including as the foundation representative for FAST (see below) on the board of GeneTx Biotherapeutics before and through the completion of its sale to Ultragenyx Pharmaceutical, Inc. (NASDAQ: RARE).
Ryan’s philanthropic efforts focus on adults and children with rare genetic diseases and intellectual and development disabilities. Ryan Jacob is the Executive Director, on the Board of Directors, of the Foundation for Angelman Syndrome Therapeutics (FAST), a research-focused foundation, dedicated to curing Angelman syndrome by funding foundational research in academic centers globally and transferring promising technology into therapy-specific companies. Ryan currently serves as a Director, on the Board of Directors, of the Rise School of Austin, a specialty pre-K school serving neurotypical and non-neurotypical children in an integrated and inclusive setting. Ryan has served on the Board, and as the Vice President of the Board, for the Arc of the Capital Area in the past, helping to establish a distributed network of care delivery centers in Central Texas.
Ryan holds a BA from the University of California, Los Angeles (UCLA).
Ryan lives in Austin, Texas with his wife and three children. Ryan’s middle son, Grayson, was diagnosed with Angelman syndrome.
Andrei Fiadkovich
CTO
Andrei leads the firm’s Software Engineering Department, which is responsible for the continual development and enhancement of our trading platform. He joined CAE in 2015 as the Director of Engineering and was promoted to the Vice President of Engineering in January 2018. Prior to CAE, Andrei worked at Avanade, a software development joint venture between Accenture and Microsoft. He oversaw development teams servicing energy, automotive, and consumer product clients and led technology development including web-based exchanges, decision support, and behavioural platforms.
He was a Senior Software Architect at KGB, where he worked on geo-location products and product-service technology. Andrei’s career path extends to software companies around the world, including Dell and Epsilon. Andrei has been responsible for the full software stack, from server-side database design and programming all the way through front-end consumer and business portals and user interfaces. He earned his B.S. in Computer Science and an M.S. in Mechanical Engineering from the St. Petersburg Mining Institute in St. Petersburg, Russia.
Paul Hegeman
Global Co-Head of Trading, EMEA and Asia Pacific
Paul is a seasoned trading and financial markets executive with extensive experience spanning investment banking, foreign exchange, and international business leadership. He has built a distinguished career at the intersection of capital markets, strategic growth, and global commercial operations.
Currently serving as Managing Director of Trading, Paul leads CAE’s Amsterdam operations and oversees the company’s trading activities across international markets. He has played a key role in the expansion of CAE’s European presence, previously leading the establishment and growth of the company’s trading organization in Hungary before relocating to the Netherlands to support its continued international development.
Prior to joining CAE in 2016, Paul held senior financial markets and investment banking positions with BBVA in New York and Houston. His experience spans investment banking advisory, leveraged finance, cross-border transactions, foreign exchange markets, and institutional client coverage across sectors including energy, infrastructure, healthcare, technology, and financial services. Combining deep financial expertise with entrepreneurial leadership, Paul has a proven track record of building high-performing teams, developing international business operations, and driving sustainable growth across dynamic global markets.
Alex Choo
Global Co-Head of Trading, Americas and Asia Pacific
Alex Choo is a seasoned capital markets professional with more than 13 years of experience spanning trading, investment markets, and cross-border financial operations. His career has focused on developing and managing trading activities across the U.S. and Asia, with a particular understanding of the Korean market and the operational requirements of international trading.
Since joining CAE in 2017, Alex has played a key role in the company’s trading operations, overseeing teams supporting the U.S. and Korean markets and coordinating day-to-day activities across regions and time zones. His experience within CAE has given him a broad perspective on cross-border market operations, team leadership, and the development of the company’s international trading platform.
Before joining CAE, Alex worked as a Trader at Toro Capital Management LLC, where he developed his foundation in trading and investment markets. He holds a Bachelor’s degree in Finance from Michigan State University and is a FINRA Series 7 registered representative.
With more than a decade of experience across global markets, Alex brings a disciplined and analytical approach to trading, combined with strong cross-border leadership and a deep understanding of U.S.-Asia market operations.
JP Santos
Global Head of Operations, Senior Vice President
JP Santos serves as Head of Operations and Senior Vice President at CAE, where he leads operations and analytics. He brings extensive experience across financial services, M&A, trading operations, risk management, and commercial finance.
Prior to his current role, JP held several positions at CAE, including Vice President and Director of Operations and Analytics, Senior Associate in Trading Operations and Risk Management, and Capital Asset Trader. Previously, he was an Associate Director at Benchmark International, advising middle-market and lower-middle-market businesses on M&A transactions and strategic growth.
JP began his career in commercial lending and credit analysis with First National Bank of Bastrop and IBC Bank. He holds a Bachelor of Science in Economics with Financial Applications from Southern Methodist University.
Laura Danko
Global Head of People and Culture, Vice President
Laura Danko is a global people and talent executive with international experience spanning human resources, talent acquisition, organizational development, and workforce strategy. Having built her career across Europe and the United States, she brings a strong understanding of international teams, organizational growth, and the people strategies required to support expanding businesses.
Currently serving as VP and Global Head of People & Talent at CAE, Laura leads the company’s global people strategy, talent acquisition, organizational development, and workforce planning across Europe, North America, and Asia. Since joining CAE, she has held progressively senior leadership roles across recruitment and HR, playing a key role in building and scaling the company’s people infrastructure as its international operations have grown.
Prior to joining CAE, Laura began her career in recruitment, where she developed extensive experience in talent acquisition and building high-performing teams. Born in Hungary and having spent much of her life abroad, including in London and New York, she is currently based in Amsterdam. Her international background gives her a broad cross-cultural perspective that informs her approach to global people leadership.
Combining strategic HR expertise with a strong track record in talent and organizational growth, Laura focuses on building scalable people strategies, developing high-performing organizations, and supporting CAE’s continued international expansion.
David Ruiz
Senior Advisor
David Ruiz serves as CAE’s Managing Director, responsible for firmwide trading strategy and execution. He leads CAE’s global trading teams in all aspects of the trading process, from evaluating opportunities to negotiating terms. He draws on a wealth of experience, overseeing in excess of 8,000 completed transactions throughout his career at CAE.
He joined CAE in 2010, and previously served in senior roles as Director of Data Acquisition and Analytics, and Vice President of Sales and Trading.
He attended Pomona College, graduating with a dual B.A. in Politics and Economics. He lives in Austin, TX with his wife and dog.
Directors
Michael Mancinelli
Director, Americas
Michael Mancinelli is a financial markets executive with more than a decade of experience in fixed-income trading, capital markets, and asset management.
Based in New York, Michael serves as Director and Head of US Trading, leading CAE’s U.S. trading teams and supporting the company’s growth in the market. He joined CAE in 2020 as a Capital Asset Trader and was promoted to Director the following year. Prior to CAE, he held senior trading roles with Celadon Financial Group, Dinosaur Group Securities, and Revere Securities, with experience spanning municipal bonds, proprietary portfolios, risk management, and institutional relationships.
Leo Azizbek
Director, Korea
Leo Azizbek is an international sales and business development executive with experience across commercial strategy, client relationships, project management, and market expansion.
Leo joined CAE in May 2025 and was promoted to Director in less than a year and a half. Prior to CAE, he worked in sales and project management at Tenx Group, where he managed 15–20 clients daily and consistently exceeded sales targets. His international experience also includes South Korea, where he developed brand partnerships and managed import and export activities, as well as leading a team of more than 20 employees at Haus Bakery.
Fei Fan Chen
Director, Taiwan
Fei Fan Chen leads CAE’s Trading team in Taiwan, with experience in international business, project coordination, and cross-border operations. Fluent in Mandarin, English, and French, she works closely with teams and stakeholders across Asia and Europe.
Fei joined CAE in 2021. Prior to CAE, she worked with Défense Conseil International in Taiwan, managing strategic projects, international stakeholder relationships, contract development, and executive operations. Her experience supporting multinational organizations and government stakeholders provides a strong foundation for her role in developing CAE’s Taiwanese operations.
Grace Shen
Director, New York and China
Grace Shen leads CAE’s U.S.-Asia trading activities, overseeing teams across the United States, South Korea, and Taiwan. She joined CAE in 2019 as a Trader on the Asia Desk and progressed to Senior Trader before being appointed Director of US-Asia Trading in 2021.
Before CAE, Grace worked in business development at Wuxi Jinding Oil Pipe Fittings Manufacturing Co. She holds an M.A. from Columbia University, including coursework at Columbia Business School, and has completed Harvard Business School Online programs in business analytics, economics, and financial accounting.
Gergely Cseh-Horváth
Director, Central EMEA
Gergely Cseh is Head of Trading in Hungary, overseeing CAE’s trading activities, high-value transactions, and strategic relationships across international markets.
Since joining CAE in 2020 as a Capital Asset Trader, he has helped expand the company’s trading operations and developed relationships with global OEMs, manufacturers, and industry participants. Prior to CAE, Gergely held senior roles across financial services, consulting, media, and global events, with a focus on business development, strategic partnerships, and commercial growth.
Ákos Németh
Director, Western Europe
Ákos Németh is a financial markets professional with experience in trading, strategic transactions, and international business development. He joined CAE in 2024 as a Capital Asset Trader in Hungary and was subsequently promoted to Director.
Now based in Amsterdam, Ákos supports CAE’s trading operations and European business development. Prior to CAE, he completed an internship in Fixed Income at Morgan Stanley, gaining experience in financial markets and institutional trading.
Norbert Kígyósi
Director, Central Europe
Norbert Kigyosi joined CAE in 2021 and currently serves as a Trading Director, responsible for his team, key customer relationships, and complex transactions across global markets.
Having progressed through several trading roles at CAE, Norbert has developed expertise in asset trading, market analysis, contract negotiation, and strategic account management. Prior to CAE, he worked with Dun & Bradstreet in business development and began his career in direct sales leadership.
Joseph Letrosne
Director, France
Joseph Letrosne is a finance and investment professional with experience across portfolio management, venture capital, and global financial markets.
As Director of Trading at CAE, Joseph oversees trading operations and team leadership. Prior to joining CAE in 2024, he was a Junior Portfolio Manager at Mirabaud Group in Paris, working across equities, fixed income, ETFs, funds, and structured products. Earlier in his career, he held positions in venture capital, financial technology, and climate-focused research across London, Geneva, Oxford, and Paris.
Dániel Kerti
Director, DACH
Dániel Kerti is a Director of Trading at CAE, where he leads his team, manages high-value transactions, and develops strategic relationships with global manufacturers and OEMs. He joined CAE in 2023 and focuses on trading, market analysis, and commercial growth.
Prior to CAE, Dániel held finance and risk roles at Roche, Citi, and Schneider Electric, gaining experience across credit assessment, liquidity planning, financial risk, and commodity markets. He brings a strong analytical background and commercial approach to navigating complex transactions and global markets.