How2Exit

FEBRUARY 26, 2023

Concept 1: Maximize business value when exiting. Exiting a business is a major decision that requires careful planning and consideration. It is important to maximize the value of the business when exiting, in order to ensure that the process is as successful as possible. Concept 2: Invest in real businesses.

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Book-building M&A Business Sale 130

The TRADE

OCTOBER 10, 2023

LMAX Group is set to acquire FX business Cürex, bringing together their respective distribution scale and technical capabilities in a bid to create a stronger offering for clients. After more than a decade of building Cürex, I will be leaving the business, following completion of the acquisition.

Business 69

Business Book-building Trading Asset Management 69

The TRADE

OCTOBER 26, 2023

UK-based boutique fixed income trading desk BlueBay Asset Management is beginning a new chapter in its life. For head of trading for the RBC BlueBay Asset Management London-based fixed income trading desk, Stuart Campbell, the institution’s combined size is a new strength. You’re taught to almost think like a PM.

Trading 98

Trading Asset Management Management Electronics 98

The TRADE

APRIL 16, 2025

The firm announced the launch of the US options exchange in September 2024, and efforts have already been made to expand IEXs options team, file the proposed rule book with the US Securities and Exchange Commission (SEC) and maintain engagement with regulatory authorities and industry stakeholders.

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Book-building Architecture Risk Management Utilities 52

Francine Way

JULY 13, 2017

As I mentioned in my valuation preparation post , Comparable Company is a valuation method that uses metrics of other similar businesses (same industry, size, geography, valuation multiples, etc.) Building the proforma income statement, proforma balance sheet, and Free Cash Flow to Firm (FCFF). TEV stands for Total Enterprise Value.

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The TRADE

OCTOBER 27, 2023

Next up in our introduction to the distinguished nominees for Leaders in Trading 2023 Editors’ Choice Awards, we bring you the shortlist for Outstanding Innovation in Fixed Income. The electronic trading platform enables participants to address challenges associated with accessing liquidity and executing efficiently.

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Trading Management Book-building Electronics 59

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. Ninety One’s trading team consists of 17 globally with six – soon to be seven – based in London.

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Trading Bulge Bracket Asset Management Bank 59

The TRADE

OCTOBER 25, 2023

Next up in our introduction to the distinguished nominees for Leaders in Trading 2023 Editors’ Choice Awards, we bring you the shortlist for the Outstanding Market Data Provider category, shining a light on those displaying recent excellence in the data sphere.

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Trading Investment Business Valuation 59

The TRADE

OCTOBER 9, 2023

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. “I

Trading 64

Trading Electronics Portfolio IT 64

The TRADE

NOVEMBER 3, 2023

Next up in our introduction to the distinguished nominees for the Leaders in Trading 2023 Editors’ Choice Awards, we bring you the shortlist the Best Broker Electronic Trading Initiative. Jefferies Jefferies Electronic Trading (JET) offers algorithmic strategies and program trading across Europe, the US and Asia.

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Electronics Trading Broker IT 52

The TRADE

FEBRUARY 15, 2024

Non-deliverable forwards (NDFs) have not always gone hand in hand with algorithmic trading, but in light of recent market developments, this could be about to change. The instruments have been pegged by the buy-side as the next frontier when it comes to algorithmic trading efforts in the foreign exchange (FX) markets.

Trading 52

Trading Book-building Asset Management Electronics 52

Mergers and Inquisitions

MARCH 8, 2023

But a few related areas, such as commodity desks at banks, commodity trading advisors (CTAs), and physical commodity trading shops could put up a good fight for that “most cyclical” title. We should also step back and define “commodities” and “commodity trading” since they’re massive areas.

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Funds Finance Finance Trading 119

Wall Street Mojo

JANUARY 18, 2024

It may also be stated as a statement of the total debit and credit balances extracted from the various accounts in the ledger to examine the mathematical exactness of the books. This sample trial balance report reflects the closing balance of different ledger accounts related to all transactions that took place within the business.

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Accountant Book-building Financial Statement Financial Modeling 98

The TRADE

DECEMBER 21, 2023

This realisation became one of the catalysts which has sparked more of an acceptance of outsourcing parts of the trading desk among buy-side firms, something which many once considered – though some still do – an unthinkable concept. Outsourced trading is no longer a taboo topic. It’s no longer all or nothing.

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Trading Management Funds Asset Management 64

The TRADE

OCTOBER 9, 2023

Sam Hewson – previously global head of digital FX solutions and EMEA head of corporate sales and solutions (CSS) – was appointed global head of FX sales, according to an internal memo seen by The TRADE. Elsewhere, Jamie Mortimore is set to re-join Citi to lead the newly formed global rates algo trading team.

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Electronics Trading Book-building Financial Institution 64

The TRADE

OCTOBER 11, 2023

The announcement builds on an existing relationship between Schroders and Xceptor which saw the active investment manager use the platform to process incoming transfer agency cashflows into its investment book of record, BlackRock’s Aladdin.

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Book-building Investment Manager Trading Investment 59

Growth Business

SEPTEMBER 13, 2023

By Dom Walbanke on Growth Business - Your gateway to entrepreneurial success When GCHQ arrived in Manchester at the backend of 2019, the city’s growing tech influence wasn’t much of a secret. from investors since its launch in 2010 and made the list of 100 fastest growing businesses in 2019. #7 The company has raised £11.2m

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Funds Business Investment Equities 105

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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Retail Trading Investors IT 52

The TRADE

JUNE 19, 2024

Liquidnet is set to roll out the second phase of its derivatives analytics suite in the next few weeks, The TRADE can reveal. It’s not so much that post-trade piece but more of a point of trade process as well.” Already brought to market, phase one includes volume and liquidity information.

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Trading Book-building Asset Management IT 64

How2Exit

OCTOBER 3, 2022

As the founder/owner of a Managed Services Provider (MSP), it’s important to know the value drivers that should inspire your business strategies -- whether you plan to sell today or in the future. And unlike standard IT services businesses, buyers of MSPs expect annual growth to exceed 15%. The market is expected to grow to $274.20

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Management S&P Acquisitions Business 100

The TRADE

AUGUST 4, 2023

These were offset partially by declines in North American equities, Europe and Asia Pacific and futures business segments. The trading venue achieved a net revenue of $467.1 Within its various business segments, Cboe Global Markets saw year-on-year increases in both options and global FX. million, up 20% from 235.3

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Book-building S&P Equities Trading 52

Presser & Co

MAY 8, 2023

What’s more, sellers: who delayed the preparation of a 3-way model, who didn’t get it quite right, whose model didn’t balance (remember assets = liabilities + shareholders equity), whose model broke when attempting to update it with new trading data, received lower bids. BeeReadi In response, Presser & Co launched BeeReadi.

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Book-building M&A Accountant Sale 52

Growth Business

FEBRUARY 28, 2024

By Dom Walbanke on Growth Business - Your gateway to entrepreneurial success It has been a maritime trade hub for centuries, but it’s tech companies in Bristol that are making waves today. 7 – Deazy Deazy , also based in Bristol, is a marketplace that matches businesses with development teams for projects. million to date. #7

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Food Engineering Manufacturing Equities 98

The TRADE

OCTOBER 4, 2023

The business confirmed that clients can continue to utilise only the services they need, as well as integrate a variety of third-party tools. With regard to our buy-side clients, and especially newer or smaller funds, time and again we hear their need to shadow their fund admins or manage their own books and records.

Portfolio Management 59

Portfolio Management Architecture Portfolio Accountant 59

The TRADE

SEPTEMBER 28, 2023

In this environment, those still willing to make prices are choosier with who they will trade with and are likely to charge a wider bid offer spread. The proliferation of exchange traded funds (ETFs) and flows in fixed income has also enabled a more consistent approach to pricing on the buy-side.

Trading 59

Trading Book-building Asset Management IT 59

The TRADE

MAY 29, 2024

Innovation is inevitable as market participants continually seek to enhance their operations across the board, and stock exchanges and trading venues are perhaps some of the most prominent advocates of embracing emerging technological advancements.

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Capital Market Financial Services Capital Trading 72

The TRADE

OCTOBER 31, 2024

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.

Portfolio 52

Portfolio Trading Management Asset Management 52

Presser & Co

MAY 8, 2023

What’s more, sellers: who delayed the preparation of a 3-way model, who didn’t get it quite right, whose model didn’t balance (remember assets = liabilities + shareholders equity), whose model broke when attempting to update it with new trading data, received lower bids. BeeReadi In response, Presser & Co launched BeeReadi.

Book-building 40

Book-building M&A Accountant Sale 40

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.

Trading 52

Trading Portfolio Management Asset Management Management 52

The TRADE

OCTOBER 18, 2024

Not that the seemingly never-ending list of aforementioned market occurrences had noticeably hindered the prime business. Meanwhile, with regards to equities, revenue deriving from prime brokerage compared to trading shifted from a 30% versus 70% ratio a decade ago, to 40% to 60% in 2023. billion in 2023.

Funds 69

Funds Broker Bank Banking 69

Accenture Capital Markets

SEPTEMBER 5, 2023

Develop a scalable trade-eligibility model that not only meets your regulatory requirements, but also supports your firm’s booking model strategy. Build appropriate monitoring, detection, controls and resolution processes in advance. obtaining prudential regulatory approvals (where required) and back-testing? Where are we now?

Book-building 52

Book-building Management Financial Institution Utilities 52

The TRADE

AUGUST 1, 2023

The relationship between banks and their clients has shifted in recent years as the advancement of technology has encouraged a broader range of firms to become more autonomous with how they execute smaller trades and less risk averse with larger ones. Goldman Sachs’ equities revenues globally had fallen from $3.24

Equities 52

Equities Trading Electronics Sale 52

Mergers and Inquisitions

AUGUST 14, 2024

But doubts have also emerged about the business model, signaled by Sequoia’s release of its “$600 billion question” analysis (i.e., Most enterprise AI startups are more like service businesses than traditional software / SaaS companies in terms of margins and scalability (i.e., don’t expect the “ Rule of 40 ” here).

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Investment Business Consulting Mergers and Acquisitions 59

Software Equity Group

APRIL 4, 2023

While those strategies provide a firm foundation to build your marketing efforts, they aren’t enough to propel your business to the next level. Our focus during this phase was on scaling the business through organic growth and an aggressive M&A strategy.

Sale 52

Sale Book-building Business M&A 52

Tyton Partners

MARCH 28, 2024

For example, Cengage had a competitive high school product portfolio and a market-leading database business in Gale, while Scholastic was a leading literacy player across institutional and consumer channels with its own K-5 basal ELA program. A handful of players tried to break in. Pearson then became Savvas Learning.

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Sale Education Book-building Portfolio 59

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.”

Equities 52

Equities Retail Trading Broker 52

RKJ Partners

AUGUST 6, 2017

As investment bankers, RKJ Partners possesses a breadth of knowledge and experience in advising buyers on business acquisitions. To be more specific, business valuation is a process involving a set of procedures and approaches used to gauge the economic value of an ownership interest in a business as a going concern.

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M&A Valuation Mergers and Acquisitions Discounted Cash Flow 40