Philadelphia Financial Services provided in depth consulting services to entities working in the financial services sector, such as contract specification to trading platform development. Worked with both North American and Asian companies.

Wallace Securities operated a floor broker, market making and specialist unit on the Philadelphia Stock Exchange options, foreign currency and futures floors. From paper tickets to hand held devices; Wallace Securities participated in the evolution of floor based and hybrid execution services as part of the PHLX success story.

Mr. Wallace was member of the PHLX Board of Governors from 1984 until 2008. During his tenure at the PHLX Mr. Wallace held several senior positions including Chairman, Vice Chairman and Chief Executive Officer. He traded on all floors of the exchange in the capacity of specialist on the options and equity floors, as a floor broker for equities and options and foreign currencies, and as a Registered Options Trader. In addition he served as Chairman if the PHLX Options Committee and chaired the following committees: Admissions, Allocations, Arbitration, Elections, Evaluation and Securities, Finance, Long Range Strategic Planning, Marketing, New Product Development and Nominating. Mr. Wallace also served as Chairman of the Board of the Stock Clearing Corporation of Philadelphia, Chairman of the Board of the Philadelphia Board of Trade, Chairman of the Board of the Philadelphia Depository Corporation and board member of the PHLX technology subsidiary Advance Tech Source Company (ATS). Over the course of his career Mr. Wallace has been a member of the Toronto Stock Exchange, a seat owner of the New York Mercantile Exchange as well as registered with the National Futures Association as a floor broker.

Active duty in Grenada (1983) with the 1st Special Operations Command. Desert Storm from December 1991 to July 1991, with Third U.S. Army. Tank crewman (19E), Cavalry Officer, Civil Affairs Officer, MI Officer, retied with rank of LTC.