The TRADE

JUNE 17, 2024

Cross asset market maker IMC has become the latest trading participant to join Cboe Europe Derivatives (CEDX). CEDX came to market in 2021, officially launching with a futures and options trading offering. The exchange launched single stock options trading in November last year.

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The TRADE

FEBRUARY 6, 2024

Order and execution management platform, Adroit Trading Technologies, has raised $15 million in its series A funding round led by specialised growth equity firm, Centana Growth Partners, with the capital set to be used to accelerate the business’ growth. It services the likes of Invesco.

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The TRADE

FEBRUARY 26, 2024

Redburn Atlantic has moved to expand its UK and European execution business with two new heads of sales trading, The TRADE can reveal. Tony Atkins Tony Atkins has been appointed UK head of sales trading. Alongside his appointment, Redburn Atlantic sales trader Luc Demoulin has been appointed EU head of sales trading.

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The TRADE

OCTOBER 9, 2024

The London-based trading team at Ninety One has a very particular set of skills. The active investment manager specialises in emerging and frontier markets trading across fixed income, credit and specialist equities. She joined Ninety One in 2021 from Royal London Asset Management where she had been head of dealing for three years.

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The TRADE

JULY 17, 2024

Citi has named a new head of electronic equity sales trading for the EMEA region, The TRADE can reveal. Jamie Miller Based in London, Jamie Miller has been appointed to head up the division in EMEA after eight and a half years as an employee of the bank, specialising in equity sales trading, according to an update on his social media.

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The TRADE

JUNE 1, 2023

Market structure changes in the Euro investment grade (IG) markets and new drivers of liquidity are evolving buy-side trading styles, a whitepaper by Flow Traders has found. The percentage of trades within this ticket size increased to 29% last year, up from 23% in 2018. million and 2.5

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The TRADE

AUGUST 2, 2023

ION and Cboe Europe Derivatives (CEDX) are set to expand Tier 1 banks and brokers’ access to pan-European derivatives markets through a new collaboration. ABN Amro Clearing, Goldman Sachs and Morgan Stanley became the first participant banks to back the new Cboe Amsterdam derivatives exchange in April 2021 ahead of its launch.

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The TRADE

OCTOBER 16, 2023

The proposed rule 10c-1 which was first put on the table at the end of 2021 was set to require securities lending information to be reported within 15 minutes of a loan being made, a requirement which many said would impose significant operational and compliance burdens on broker-dealers and other market participants.

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The TRADE

OCTOBER 24, 2023

The annual Leaders i n Trading gala is the most distinguished awards night for the trading community. Among the most coveted awards categories is the Editors’ Choice Awards and today we bring you the 2023 nominees for Outstanding Post-Trade Services Provider.

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The TRADE

OCTOBER 20, 2023

Next up in our Leaders in Trading 2023 Editors’ Choice Awards write up series, we bring you the shortlisted candidates for Outstanding Derivatives Exchange, showcasing exceptional performance in the derivatives exchange space. Open interest peaked at over 2,000 in March earlier this year.

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The TRADE

MARCH 12, 2024

Deutsche Bank has signed up to the onboarding and maintenance platform for custody, broker trading, and buy-side accounts offered by ascending fintech Saphyre. The fintech also has relationships with custody giants BNY Mellon and JP Morgan dating back to 2021 and 2020, respectively.

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The TRADE

JUNE 13, 2023

million funding round aimed at expediating the development of FIA Tech’s Trade Data Network (TDN) initiative. The TDN initiative provides a shared ledger of trading information specifically aimed at addressing current fragmentation and lack of transparency which exists in exchange traded derivatives (ETD) post-trade processing.

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The TRADE

SEPTEMBER 18, 2023

The FCA’s ‘supervisory strategy for Principal Trading Firms (PTF)’ letter – circulated to chief executives last month – highlighted five key areas of focus for the regulator for the next two years. The TRADE takes a look at what the FCA’s planned strategy means for the market empirically.

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The TRADE

OCTOBER 18, 2023

The single stock options traded on CEDX will be cleared by Cboe Clear Europe N.V. Goldman Sachs, Morgan Stanley, Susquehanna International Securities, and Interactive Brokers. The post Cboe to offer single stock options from next month after backing from major participants appeared first on The TRADE.

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The TRADE

JANUARY 22, 2024

Ameni joined Nomura from Jefferies, where he held senior leadership positions, most recently serving as managing director for emerging markets (EM) credit trading. Before that, Ameni was a member of Nomura’s EM credit trading desk in London, until 2016. Before that, O’Driscoll spent just over a year in a junior broker role at the firm.

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The TRADE

SEPTEMBER 6, 2024

For brokers and custodians, the single biggest impact of T+1 has been the 30% reduction in clearing margin, with 80% of the sell-side seeing this development as strongly impactful to their businesses. The post Transition to T+1 ‘harder than expected’ finds Citi report appeared first on The TRADE.

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The TRADE

APRIL 17, 2024

Global asset manager Robeco leverages a low touch and high touch trading team that spans across three continents. And, like most asset managers across the street, its global equity trading desk plays host to a variety of characters, each bringing their own individual string to the wider team’s bow.

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The TRADE

NOVEMBER 8, 2023

Cboe Global Markets has appointed leading industry figure Natan Tiefenbrun president of North American and European equities as part of the leadership changes announced last month, The TRADE can reveal. Tiefenbrun also spent 13 years at agency broker Instinet developing the firm’s algo trading portfolio trading and sponsored access business.

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The TRADE

NOVEMBER 29, 2023

Alternative trading system (ATS) PureStream Trading Technologies launched in 2021 and was developed to re-engineer the price and liquidity discovery process for institutional traders using open-ended liquidity transfer rates, as with those found in data networks.

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The TRADE

MAY 28, 2024

Start-up crypto prime brokerage FalconX has launched a dedicated foreign exchange desk, leveraging the firm’s existing crypto connectivity, which it gained a Virtual Financial Assets (VFA) license for in 2021. The post FalconX goes live with foreign exchange desk appeared first on The TRADE.

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The TRADE

NOVEMBER 20, 2023

Hong Kong-based Marwat previously worked at Credit Suisse, focused on AES, algorithmic, and direct market access (DMA) trading, before joining Balyasny Asset Management in 2021 as a trader. Olivetree has made a number of new hires for its event-driven trading team in London.

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The TRADE

JULY 6, 2023

Retail traders typically follow equity performance closely – a trend dating back to 2021. Wholesales were found to have increased their consumption of flow from retail brokers. The post Retail boost is driving volumes off-exchange, Liquidnet finds appeared first on The TRADE.

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The TRADE

AUGUST 7, 2023

Its role and the way it interacts with institutional investors differs region to region. Looking into this sector, which is set to experience highly anticipated, yet arguably unpredictable, growth – note the GameStop saga of 2021 – The TRADE deep dives into some of the key considerations.

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The TRADE

APRIL 5, 2024

European agency broker Kepler moved to acquire Ellipsis from Exane in 2021. The post Kepler’s Ellipsis AM set to acquire Rothschild AM convertible bond business appeared first on The TRADE. At the time of the transaction, the asset manager had €2.8 billion in its assets under management for 2023.

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Sun Acquisitions

FEBRUARY 10, 2023

more than in 2021. Forecasts are predicting that in 2023 there will be nearly 2,934 hotel openings across the globe, up from 2,246 opened in 2021. Networking: Attend industry events with the purpose of networking with prospective buyers at trade shows, conferences, and galas. Your broker can lead these discussions.

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The TRADE

OCTOBER 18, 2024

“Year-to-date, we’re seeing for the first time in many years a notable uptick in new fund launches and spin outs from bigger places,” says Jack Seibald, managing director, co-head of Marex prime services and outsourced trading. Data from Convergence tracking the top 25 prime brokers showed their market share grew from 83.3%

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How2Exit

JUNE 10, 2024

After being laid off in 2021, Shane pivoted to business ownership, acquiring a three-location trailer dealership in the Dallas-Fort Worth area. In a twist of fate, a restructuring layoff in 2021 became the catalyst for his foray into acquisition entrepreneurship. “Hey, I sent you an email. Just wanted to introduce myself.

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The TRADE

NOVEMBER 6, 2023

During his tenure, Vincent held various positions across Credit Suisse, most recently as head of AES sales trading, based in London. He also worked on the client coverage team of Credit Suisse’s agency electronic trading platform, Europe, focused on bespoke execution consulting and strategies.

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The TRADE

MARCH 8, 2024

What has your journey to the trading desk involved? What drew you to trading? I graduated university in 2021 with a degree in modern languages and started on a graduate scheme that gave me a great overview of the various aspects of a trading role. What makes a successful multi-asset trader?

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The TRADE

NOVEMBER 2, 2023

A friend suggested I consider investment banking and following a trading and sales summer placement at ABN AMRO in the City, I was instantly captivated – I had found my fit. I spent eight years on the sell-side in various fixed income trading roles, before jumping to the buy-side, and to BlackRock, where I am today.

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The TRADE

AUGUST 21, 2023

Among the SEC’s reforms is the proposal to amend certain rules under Reg NMS to adopt variable minimum pricing increments – or tick sizes – for the quoting and trading of NMS stocks. Looking at tick size too, if you don’t get that right, you can reduce and fragment liquidity and make it more costly to trade.”

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The TRADE

MAY 23, 2024

Several European exchanges are well underway with plans to bring out offerings of this ilk in the next few months The TRADE understands, while a handful of US alternative trading systems (ATS) are also preparing to make the crossing over to the Bloc to replicate the progress they have achieved in the US.

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Sica Fletcher

APRIL 2, 2024

Granted, these numbers are not quite at pre-pandemic levels yet (although they are close), and they are nowhere near the M&A boom of 2021. Smaller agencies (>$1M) have been trading for especially lower valuation multiples over the last few years, making the potential ROI for prospective buyers significantly higher.

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The TRADE

JULY 25, 2023

The PRA specifically cited “significant failures in risk management and governance between 1 January 2020 and 31 March 2021, in connection with the Firms’ exposures to Archegos Capital Management”. The default of Archegos Capital Management, a $10 billion family office founded by renowned New York investor Bill Hwang, occurred in March 2021.

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Sica Fletcher

MARCH 31, 2022

Background Over the past several years, there has been an enormous wave of M&A transactions in our industry as agency principals have been capitalizing on the unprecedented demand for insurance brokers. Simply stated, the larger the EBITDA, the higher the multiple paid. This disparity is striking and has actually increased over time.

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The TRADE

JULY 24, 2023

Werner Eppacher has spent the entirety of his two-decade financial career with German asset manager DWS Group, catching his first glimpse of a trading floor as an intern for Deutsche Bank in 2003. “A He missed the energy that first drew him to trading and so, when the chance came to move closer to the execution side of things, he took it.

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PCO M&A Specialists

DECEMBER 15, 2021

times its 2021 estimated EBITDA. times projected EBITDA, which may change based on how the stocks trade in the period until the deal closes) would have been an unheard-of valuation several years ago. The joke around the PCO M&A Specialists office today is that we should have brokered the deal and could have gotten a higher number.

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