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SALES & SUPPORT: (212) 785-0665 .

QEL Systems Services Company History

Over 35 years combined experience building world-class software.

QEL company history traces back to the early 90's when Michael Bardash, PhD, founded Quantum Electronic Laboratories (QEL). As a quantitative professor at Cornell University, Michael developed radioactive detector cells to help private and government sectors trace molecular micron radiation particles. These detector cells could be used in various ways including airport security screening and in space suits for astronauts.

As research and material costs increased, Michael used his formidable computer technology skills, such as system architecture and programming, to subsidize his work.

The financial wizards of Wall Street soon came calling. During the mid-90's, the larger institutional firms were capitalizing on the rapid growth of technology and the NYSE needed to keep pace. They had to provide technology for all major firms in the financial industry and the member firms who did business on the trading floor. Michael was offered a consulting contract to assist the S.I.A.C (Securities Industry Automation Corp.), the technology arm of the N.Y.S.E (New York Stock Exchange) in building the largest integrated technology plan of its time. He was instrumental in the development and deployment of the Broker Booth Support System (BBSS) on the NYSE trading floor.

Around the same time, Michael met programmer, Joseph Cerasani. Joe was hired by the NYSE/SIAC to help build the largest order management system in the financial industry. While working on the project he not only impressed his peers with his programming skills, he also acquired extensive knowledge in the fundamental business practices of equities trading.

As their careers progressed, Joe and Mike used their expertise and innovation to create programming techniques, work ethic and code that are still used today, nearly twenty years later.

These innovators found that they shared interests, creativity and ambition. Creative people evolve and grow, always seeking new business opportunities. As they each pursued personal and professional growth, from time to time they would cross paths and trade information and ideas about new trends in technology or business.

The new millennium found them all entrenched in big firms and profiting from their expertise. However they were disenchanted by the prevailing corporate culture. There was a very distant relationship between upper management and the workforce, which they felt was affecting the quality of workmanship in the marketplace.

Exceptional people gravitate towards each other and in December 2002, Bardash and Cerasani joined forces to form QSS, Inc. (QEL Systems Service). They are as committed today as they were then to creating world-class, quality software and providing technology services that are faster, more cost-effective and superior to anything in the marketplace.

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Management Team

Michael Bardash, Co-Founder/President QEL, Inc. President and founding partner, Michael Bardash was the technical lead developer of the QEL AccountTrax system. He managed all aspects of the architecture, after assembling an impressive development team. His wide base of industry experience includes serving as director of fixed income pricing systems at Financial Times/Interactive Data. While there, he managed a staff of 40 that was responsible for developing application suites for producing evaluations for corporate and structured bonds. He was also a consultant to the BBSS development team at SIAC. His academic CV includes assistant professor at Columbia University and a PhD in electrical engineering from Cornell University.

Joseph Cerasani, Co-Founder/Executive Vice President Chief Technology Officer, Joseph Cerasani, co-founded QEL in 2003. He has over 15 years of experience in business analysis, software design and development. Highlights of his career include building systems for BBSS and Fidessa, including Order Management, Account Management, and Market Data Distribution systems. As a founding partner of QEL Systems Services, he specializes in front and back office systems for equities trading.


QEL Systems Services, Inc.
1 Liberty Plaza, Suite 2303,
New York, NY 10006
Phone (212) 785-0665
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Fax (212) 480-1293