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For the first time, The TRADE is announcing the 2023 Rising Stars of Trading and Execution ahead of the gala awards ceremony, Leaders in Trading on 8 November. Find previous years’ recognised shortlists here: 2022 – 2021 – 2020 – 2019 – 2018 – 2017 – 2016 – 2015.
Union Investment’s Christoph Hock is set to step away from his role as head of multi-assettrading later this year to pursue an opportunity in digital assets and tokenisation within the assetmanagement firm, The TRADE can reveal. Union is bolstering its digital assets division, The TRADE understands.
UBS appointed Carlos Salcedo head of capital markets financing sales Americas, according to an internal memo seen by The TRADE. Before joining MEAG, Malakis held senior sales positions with international assetmanagers, including Generali Insurance, Vanguard International and Schroders.
Umair Khan Marwat has joined Millennium as a trader, following almost two and a half years at Balyasny AssetManagement. Hong Kong-based Marwat previously worked at Credit Suisse, focused on AES, algorithmic, and direct market access (DMA) trading, before joining Balyasny AssetManagement in 2021 as a trader.
Burke will also hold responsibility for business and product management expansion of MarketAxess’ EM trading business across both geographies and products. Burke joined MarketAxess from Standard Chartered, where he most recently served as managing director, based in Singapore.
Leveraged loan trading revenue topped $900 million in 2023, up 16% from 2021 and 29% from 2022, a new report from Coalition Greenwich has found. Execution quality was the key priority when choosing a dealer counterparty, with 48% of buy-side leveraged loan trading volume allocated to dealers based on the execution quality.
Umair Khan Marwat joined Millennium as a trader, following almost two and a half years at Balyasny AssetManagement. Hong Kong-based Marwat previously worked at Credit Suisse, focused on AES, algorithmic, and direct market access (DMA) trading, before joining Balyasny AssetManagement in 2021 as a trader.
Ryan O’Connor left Goldman Sachs AssetManagement and is set to join ETF provider Global X ETFs as chief executive on 8 April. He most recently served as global head of ETF product, having initially joined Goldman Sachs AssetManagement back in 2017 to build out the US fund strategist model portfolio business.
Vikesh Patel With this approval, the pan-European clearing house will introduce a service for European SFT transactions in cash equities and ETFs, which includes central clearing, settlement and post-trade lifecycle management. In Europe, there have been multiple failed attempts to successfully introduce and maintain SFT clearing.
Electronic trading platforms captured almost a third (32%) of overall Canadian equity trading volume in 2023, with this share expected to rise in the next three years, a new report by Coalition Greenwich has found. As a result, electronic and/or algorithmic trading has seen usage increase.
Running for its ninth year, the Rising Stars initiative, in partnership with Instinet, has recognised a number of up-and-coming talents over the years, many of whom have gone on to hold impressive roles and head up some of the largest and most successful desks across the world’s leading assetmanagers and hedge funds.
Investment data management solutions provider FINBOURNE Technology has expanded its integration with Taskize to enhance post-trade operational efficiency. The development builds on top of the initial integration of Taskize into FINBOURNE’s LUSID platform in 2021.
BlackRock has promoted from within for its new head of European credit trading, according to an update on social media. Dean Catton has been selected to take the helm for the assetmanager’s European credit business after spending the last two years as its head of European leveraged finance trading for its alternatives business.
Kepler Cheuvreux subsidiary Ellipsis AssetManagement has moved to expand its capabilities in the convertible bond segment with the acquisition of Rothschild & Co’s business. As part of the deal two Rothschild portfolio managers – Cristina Jarrin and Mikael Dauvert – will move to Ellipsis AM.
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. Ninety One’s trading team consists of 17 globally with six – soon to be seven – based in London.
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.
Edmond de Rothschild AssetManagement has appointed Regine Wiedmann as head of distribution for the DACH region. She will report directly to Marie Jacot, global head of distribution at Edmond de Rothschild AssetManagement, and will be based between Frankfurt and Geneva.
Christoph Hock, head of multi-assettrading at Union Investment, accepted the Lifetime Achievement Award at The TRADE’s Leaders in Trading 2023 gala awards ceremony last night. The TRADE would like to extend its congratulations to Hock for his long-standing commitment and service to the industry.
Rikki Corbyn left State Street Global Advisors (SSGA) following 11 and a half years with the firm, The TRADE learnt. He also previously served as managing director at both American Express Bank International and Deutsche Bank, Argentina. Before that, she co-founded Vicenda AssetManagement in Zug, Switzerland.
David Kirk is set to join Millennium, following almost three and a half years at Marble Bar AssetManagement where he most recently served as a trader, The TRADE understands. Kirk joins the capital management firm with experience working as a trader on both the buy- and sell-side.
Global assetmanager Robeco leverages a low touch and high touch trading team that spans across three continents. And, like most assetmanagers 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.
Ninety One trader Tom Nickalls is set to leave the assetmanager after 11 years to join Morgan Stanley, The TRADE can reveal. After 11 years my time at Ninety One (and formerly Investec AssetManagement) has come to an end. He was recognised as a Rising Star of Trading and Execution at Leaders in Trading in 2021.
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.
Erste AssetManagement, part of Erste Group Bank, has become the latest European client to join Clearwater Analytics’ buy-side community. The development will see Clearwater aggregate multi-asset client investment data, help increase asset flows and improve client service. “We
Two former London Stock Exchange Group (LSEG) and SIX Swiss Exchange sales specialists were selected to join US equites alternative trading system (ATS) OneChronos to support its push into Europe. Elsewhere, Sherlock most recently served in a European equity sales role since 2021.
The TRADE’s Rising Stars Awards return for their ninth year, recognising the brightest up-and-coming talent across trading and execution for 2023. In partnership with Instinet, nominations are now open for candidates currently working in a trading role with a buy-side firm. Further details of the event can be found here.
Redburn Atlantic has expanded its UK and European execution business with two new heads of sales trading. Tony Atkins was appointed UK head of sales trading. Atkins joined Redburn Atlantic in 2004 as a sales trader having previously served for eight years at Morgan Grenfell and two years at Marathon AssetManagement.
For Sharon Ruffles, head of fixed income trading for EMEA and Asia Pacific at State Street Global Advisors, the beauty of fixed income lies in how much one day can vary from the next. She began her trading career on an all-female trading desk, and says it was watching the world’s news play out in the markets that drew her to trading.
BlackRock promoted Dean Catton to take the helm for its European credit business after spending the last two years as its head of European leveraged finance trading for its alternatives business. Catton joined BlackRock in 2021 from Banco Santander where he had been a credit trader for four and a half years.
Prior to joining State Street in 2021, she previously served for more than 17 years at UBS across Zurich, London and Singapore and at Credit Suisse. Start-up hedge fund Jain Global appointed a former Credit Suisse vice president and electronic sales trader to join its ranks on the trading desk ahead of its launch.
What has your journey to the trading desk been like? I spent the first 20 years of my career at the global bulge bracket banks, first in investment banking and then on the institutional equity desks, in a cross-asset and special situations role. My day may range from trading liquid US stocks to more illiquid European names.
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.
He joined after most recently spending two and a half years at BlackRock’s flagship Aladdin platform, serving as a managing director and leading its business development efforts across EMEA. Greg Finke joined the boutique assetmanager after just over a year at Rothschild & Co as a senior investment dealer covering equities.
Instinet has launched smart order routing (SOR) capabilities to the South African markets on the Johannesburg Stock Exchange (JSE) and A2X, aimed at better connecting both local and international investors looking to trade in the region. A lot of the international global assetmanagers based in EMEA are more accustomed to smart order routing.
The post Cboe outlines why its clearing service for securities financing transactions will succeed where others have failed appeared first on The TRADE. Subject to regulatory approvals the service is aiming to launch in September this year.
Macquarie AssetManagement has agreed to acquire waste services provider Coastal Waste & Recycling Inc. Industry trade publication Waste Dive first reported the transaction. A major infrastructure player, Macquarie AssetManagement has invested more than $5 billion in waste management businesses in the Americas since 2007.
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?
Lit primary activity settled at 30% of average daily principal in Europe in both May and June for the first time, Liquidnet’s latest liquidity landscape report has found, highlighting a need to source liquidity from outside of intraday continuous trading. “As billion in Q1 to $3.83 In June it reached 25%, the highest since early 2019.
Chicago-based head of US trading at Legal and General Investment Management (LGIM) Ryan Raymond has seen enough economic turmoil during his career to know what to do when markets turn volatile. Specialising in fixed income, specifically credit, Raymond has over two decades of trading experience under his belt.
Werner Eppacher has spent the entirety of his two-decade financial career with German assetmanager DWS Group, catching his first glimpse of a trading floor as an intern for Deutsche Bank in 2003. “A There are no prescribed measures for any particular asset class at any given time. There’s no way around it.
Example of Merchant Banking In 2021, merchant bank Avendus Capital helped the Indian company Piramal Enterprises acquire the debt-ridden assets of Dewan Housing Finance Corporation (DHFL) for ₹34,250 crore ($4.4 In addition, they can provide valuable services such as portfolio management, assetmanagement, and advisory services.
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.
Speaking to the key considerations for the European buy-side community, Susan Yavari, regulatory policy advisor – capital markets at European Fund and AssetManagement Association (EFAMA) highlighted that identifying potential pain points is the overarching focus.
“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. They are now trading in all these other asset classes. billion in 2023.
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