The TRADE

SEPTEMBER 19, 2023

Wall Street giant Citi has made a number of cuts to it cash equities trading business in London, according to two people with knowledge of the matter, The TRADE can reveal. Lackenby joined the bank two years ago from broker Market Securities. Citi is the latest bank making cuts to its trading and investment banking unit.

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The TRADE

JULY 3, 2023

Market maker DRW Holdings is set to expand into the Hong Kong market for the first time with a new trading desk, The TRADE can reveal. Trading desk wise, the team will start off fairly small, as some trading strategies can take up to three to six months to develop.

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The TRADE

FEBRUARY 9, 2024

As the evolution of digital assets as a distinct class continues to accelerate, the FIX Trading Community is set to establish specific standards for the area, focusing on three core pillars: interoperability, regulation and distributed ledger technology (DLT) application.

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TechCrunch: M&A

APRIL 27, 2023

The Korean fintech firm offers online and offline payments, money transfer, credit rating, insurance and loan services to approximately 40 million registered users in South Korea. Siebert Financial, the U.S.-based based brokerage and financial advisory firm, and its subsidiaries have been providing financial services for over 50 years.

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Beyond M&A

DECEMBER 18, 2024

AI agent startups secured $8.2 Financial services, too, are ripe for disruption by Agentic AI. From algorithmic trading and risk management to fraud detection and customer service, the applications are vast and varied. billion in investor funding over the last 12 months, spread over 156 deals, an increase of 81.4

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The TRADE

SEPTEMBER 19, 2023

The D epository Trust & Clearing Corporation (DTCC) has revealed that 350 Investment managers are now leveraging CTM’s automated trade affirmation capabilities to accelerate the post-trade lifecycle, as firms prepare for the US move to T+1 trade settlement. Achieving SDA is critical to meeting US T+1 settlement timelines.

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The TRADE

JUNE 6, 2023

According to the firm, BondGPT combines GPT-4 with LTX’s analytics and underlying dataset for data timeliness, accuracy and compliance in the highly regulated financial services sector, avoiding hallucination issues common in other implementations. It adds generative AI to build on the AI neural network that LTX has used since launch.

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The TRADE

JANUARY 16, 2024

Once approved, the expanded trading platform of Panmure Liberum will also boast trading relationships with more than 900 counterparties across the UK, US, Europe and Asia. The post Panmure Gordon and Liberum agree merger to create new investment banking giant in the UK appeared first on The TRADE.

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The TRADE

NOVEMBER 6, 2023

The TRADE is delighted to announce the shortlisted nominees for the Industry Person of the Year Award 2023. Shortlisted individuals are repeated contributors to discussion whether that be through panels, associations or schemes to support the next generation joining the financial services industry.

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The TRADE

APRIL 8, 2024

Jefferies appointed Joram Siegel as managing director, head of fixed income outsourced trading. Siegel joined Jefferies from Marex, where he spent the last four months serving as head of fixed income outsourced trading. Other previous tenures include credit trading roles at both Barclays Investment Bank and Credit Suisse.

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The TRADE

JULY 1, 2024

Former head of market structure and liquidity solutions at broker dealer Kepler Cheuvreux Byron Griffin is set to join Franco-German financial services firm ODDO BHF. He is currently on gardening leave set to join ODDO in the coming months, The TRADE understands. He joins as head of execution sales and microstructure.

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The TRADE

JUNE 26, 2024

Former head of market structure and liquidity solutions at broker dealer Kepler Cheuvreux Byron Griffin is set to join Franco-German financial services firm ODDO BHF, The TRADE can reveal. He is currently on gardening leave set to join ODDO in the coming months, The TRADE understands.

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The TRADE

JUNE 24, 2024

UBS appointed Carlos Salcedo head of capital markets financing sales Americas, according to an internal memo seen by The TRADE. Haitong Securities appointed Dipesh Sohani director of institutional equity sales. Elsewhere in his career, Sohani held positions at YES Securities, Edelweiss Financial Services, PhillipCapital and MF Global.

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The TRADE

JUNE 27, 2023

Integrated trade and communications surveillance has seen a 100% increase over the last year as regulators continue to ramp up enforcement actions, a SteelEye report has found. The report’s findings come as regulators up their enforcement actions related to communications and trade surveillance on both sides of the Atlantic.

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The TRADE

OCTOBER 16, 2023

Winterflood Securities has cut twenty people from its market making business in London, including six traders, according to two people with knowledge of the matter. The market maker, which specialises in covering smaller companies, said trading activity had been subdued. Winterflood declined to comment.

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The TRADE

MAY 14, 2024

Deutsche Bank has joined asset tokenisation initiative Project Guardian – dedicated to testing the feasibility of applications in regulated financial markets – as part of the asset and wealth management workstream. The post Deutsche Bank joins global policy makers’ Project Guardian appeared first on The TRADE.

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The TRADE

JANUARY 24, 2024

The FCA’s authorisation specifically applies to Elwood’s execution management system (EMS) in connection to security tokens and derivatives. The firm’s EMS platform enables users to connect to global crypto exchanges and OTC venues through a single application or API, to execute digital asset trades.

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The TRADE

MAY 23, 2024

Digital assets market maker B2C2 has partnered with Swiss online banking and financial services provider Swissquote to deepen liquidity on the latter’s exchange. Users are able to trade, hold, and transfer crypto assets in their Swissquote account, backed by the security associated with a regulated Swiss bank.

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The TRADE

JULY 11, 2023

BNP Paribas securities services’ global head of investment analytics and data services, Neil Ryan, has left the bank to become head of product marketing and solution positioning at Finbourne Technology. The post BNP Paribas securities services data lead takes up product role at Finbourne appeared first on The TRADE.

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The TRADE

JULY 10, 2024

The calculator enables participants to evaluate potential margin and clearing fund obligations associated with becoming a member of DTCC’s Fixed Income Clearing Corporation (FICC) Government Securities Division (GSD). The post DTCC’s FICC launches new public-facing Value at Risk calculator appeared first on The TRADE.

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The TRADE

JUNE 19, 2023

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. Previously in his career, he spent several years in credit trading roles at StormHarbour Securities, UBS and Elgin Capital.

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The TRADE

FEBRUARY 6, 2024

Tigress Financial Partners is set to offer a co-branded version of the Intercontinental Exchange (ICE) TMC bond platform, an anonymous, all-to-all alternative trading system (ATS) operated by ICE Bonds, to its clients. The post Tigress Financial Partners to offer ICE TMC bond platform to clients appeared first on The TRADE.

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The TRADE

NOVEMBER 15, 2023

Olivetree has made a number of new hires for its event driven trading team in London, The TRADE can reveal. David Lackenby has joined as head of event driven sales trading and Mark Brodie has been hired as an event driven sales trader. Lackenby previously worked at Market Securities and Cantor Fitzgerald.

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The TRADE

NOVEMBER 20, 2023

Australian securities exchange ASX is set to replace its cash equities clearing and settlement platform with Tata Consultancy Services’ (TCS) platform, a proactive step in overhauling the post-trade offering after its six-year long blockchain ambitions came to an end in 2022.

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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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The TRADE

JUNE 20, 2023

If you impose rigid thresholds it could be at the expense of the end clients,” said Haroun Boucheta, head of public affairs for securities services at BNP Paribas, also speaking on the IDX panel. How the EU plans to reduce reliance on UK CCPs for derivatives clearing appeared first on The TRADE. It represents a thawing.

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The TRADE

FEBRUARY 14, 2024

Goldman Sachs has achieved improvements in enhancing trade settlement efficiency through the use of Depository Trust and Clearing Corporation (DTCC)’s Central Trade Matching (CTM)’s Match to Instruct (M2i) workflow. We are pleased to provide these benefits to the financial services industry.”

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The TRADE

SEPTEMBER 25, 2023

UK-based investment bank Peel Hunt appointed former head of electronic and program trading and sales at Numis Securities, Nishad Vallonthaiel, to head up its own electronic trading division. Chhaya joins the bank after also previously serving at Instinet, Liquidnet, HAITONG, Canaccord Genuity and Numis Securities.

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Razorpay

OCTOBER 25, 2024

Offering a broad range of services, from mutual funds to intra-day trading and derivatives, Rupeezy needed a payment partner who could handle the complexities of financial transactions. TPV is mandatory in the financial services sector to avoid fraudulent transactions and ensure the security of customer funds.

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The TRADE

NOVEMBER 6, 2023

SIX’s head of equities Adam Matuszewski has resigned from the exchange group after over 10 years to take up a new role at Citadel Securities based in London. Drew Vincent is set to join TD Cowen in an execution services role following almost 15 years at Credit Suisse.

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The TRADE

JULY 1, 2024

Stephen Wilkes, the head of buy-side solutions sales and head of securities services at Deutsche Bank, will be departing his role after spending almost 13 years at the bank. For nearly five years, Wilkes served as the head of buy-side solutions sales and head of securities services sales in the EMEA region.

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The TRADE

AUGUST 23, 2024

The shortening of settlement cycles across markets and asset classes, combined with increasing trade volatility, is creating new pressures on manual operational processes for both buy- and sell-side participants across multiple trade lifecycle functions. AI has the potential to transform all stages of the trade lifecycle.

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Razorpay

AUGUST 9, 2023

Merchant banks are a very important part of the financial ecosystem, since they support the largest chunk of businesses – the mid-sized ones. Merchant banking is a special branch of banking that provides financial services to medium to small-sized businesses. What is a Merchant Bank?

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The TRADE

OCTOBER 11, 2023

Philip Coleman, chief technology officer at Delta Capita, said: “Today’s launch of MACH is a clear demonstration of Delta Capita’s commitment to reinventing the financial services value chain, and being at the heart of what is an incredibly exciting next chapter for capital markets and technology innovation.

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The TRADE

OCTOBER 18, 2023

The result is that BondGPT+ not only meets our clients’ enterprise requirements, but also sets a new standard for generative AI solutions in the financial industry by providing a single natural language interface for seamless access to much of the data used by busy fixed income professionals.”

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The TRADE

OCTOBER 18, 2024

But a series of trades doesn’t simply add up to a position. It’s about finding the balance which reduces duplication, synchronisation issues, translation problems, and breaks, while maintaining the controls required for financial services. It’s a very simple statement, but an important one.

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Accenture Capital Markets

JANUARY 22, 2024

The underlying question from a financial services perspective is therefore how to prove that sustainability-related investments are delivering against their “green” promise in a clear and reliable way? But whatever commitments were made by governments and corporations alike (e.g.,

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