Steve Janjic: The 1st Electronic Cannabis Marketplace
Steve Janjic MD: Amercanex Corporation
He was formally a director at Tullett Prebon, one of the world’s largest institutional brokerage firms, along with being in similar roles at both Morgan Stanley and GFI Securities. He’s articulate, driven, and conducts himself with the utmost integrity which led him to find his niche in the cannabis industry. Steve Janjic is the CEO of Amercanex, the transparent, non-manipulated, electronic marketplace for business members of the industry. He is building something that is changing the marketplace for the best and he’s here to give us a little insight on how he intends to do just that.
What was the deciding factor for you to join this particular industry?
Coming from Wall Street and serving in several different arenas in the financial industry I learned to look for emerging markets: Cannabis is the strongest emerging market of the 21st Century. After reviewing the strong points and weak points, we felt confident that we could help build the infrastructure needed for this to be a nationally legal marketplace. We built the first fully compliant wholesale marketplace over the internet – Scalability and regulation being first and foremost. This is like an electronic ‘commodities exchange’ for cannabis where we operate like a Swaps Executional Facility (SEF) under the guidelines of Dodd/Frank like the financial markets. We are helping to develop the infrastructure and regulatory framework needed by the federal government to make this nationally legal and trackable. Our goal is to eventually offer financial products around the world when it becomes legal.
Cannabis is the strongest emerging market of the 21st Century.
What were you doing before the green rush?
I was an experienced managing director with an extensive background in the foreign exchange market. My experience included successfully trading spot currencies and having a broad knowledge of trading room technology with an emphasis on low-latency electronic-trading technology, executable streaming prices, request-for-quote, execution algorithms, price aggregation, white-label solutions, and pricing retail e-platforms. Most recently, I was the Director of FX Sales at Tullett Prebon, one of the world’s largest institutional brokerage firms with 168 years in the marketplace, and prior to that at Morgan Stanley and GFI Securities in similar roles.
What are you doing to impact the industry?
Amercanex was founded with the sole-purpose to ensure a completely transparent, neutral, and non-manipulated marketplace for institutional cannabis industry participants while strictly adhering-to and centralizing regulatory and reporting requirements to local and regional regulatory authority.
Describe your work ethic to me in one word.
Integrity.
Tell me about a time in your career that didn’t go as planned and what you did about that? How did you handle it?
There was a time in my life, like most, when adversity had to be turned into success. I was 27 years old and my career was moving quickly on the floor of the commodities exchange when, within days, my mother was diagnosed with terminal cancer. At first I thought, “Should I stop, take time to grieve, and slow down?” What I did instead was remember what my mother taught me and that was to be driven in times of circumstance and grow when others would stop. Take pride in everything you do and that’s what makes a dreamer’s dreams become reality.
What book have you read that you’ve been inspired by? Any particular read we should put on our list?
Chicken Soup for the Soul by Jack Canfield “Don’t worry about failures, worry about the chances you miss when you don’t even try.”
What’s the best advice you’ve ever gotten?
My parents have always taught me to keep moving forward and never give up on my dreams. Having a positive attitude and drive proves to yield positive results. I have always lived my life with this outlook both personally and professionally and so far this advice has not steered me wrong.
Having a positive attitude and drive proves to yield positive results.
How would you advise someone who wants to join the industry?
I would recommend that they research the industry and learn the different areas to work and find their niche as the market has so much opportunity. After that, jump in!!
What is a skill or trait that you think is necessary to make an impact in this industry?
Like everything in life: Integrity, drive, desire, and vision are key ingredients to make yourself successful in any industry.
What is the most important thing for us to know now about the legal marijuana industry?
That is the fastest growing industry in the 21st century. Anyone who gets involved in the cannabis industry needs to understand that it’ll be ever-changing and that they’ll need to be able to adjust. That will be one of the best traits to have.
If we are sitting across from each other a year from now, how will our conversation about the ‘green rush’ be going?
We’ll be talking about how big this continues to grow. The accomplishments of the industry and its participants are truly amazing. Here comes 2016!