Millennium appointed You Khai Tan as senior trader, based in Singapore. He joined Millennium from UBS, where he spent the last 13 years, based in Hong Kong and Singapore. Most recently, Tan held a global portfolio trading position, which included trading global equities with strategy implementation via algorithms, crossing networks and global portfolio trading desks. Prior to that, Tan held a global markets, APAC cash equities position based in Singapore. Elsewhere in his career, Tan served at Maybank Investment Banking Group in an equity sales trading role.

HSBC appointed Matthew Stanton as managing director, head of equities sales trading for Americas. Stanton joined HSBC from Primary Portal, where he served as a sales consultant. Prior to that, he spent just over seven years at Barclays, most recently serving as managing director, head of cash sales trading, Americas. During his tenure at Barclays, Stanton has also served as head of cash sales trading, EMEA, based in London. Earlier in his career, Stanton spent 18 years at Goldman Sachs in a variety of senior roles based in New York and London. This included equities sales trading positions for both the Americas and EMEA. He initially joined Goldman Sachs as a NYSE floor trader.

Nomura named Hemish Shah head of EMEA flow rates in a bid to strengthen its franchise. Shah has 15 years of industry experience and was most recently head of EGBs, bond derivatives and euro inflation trading at Deutsche Bank. His expertise includes a proven track record of developing trading and risk management strategies. In this new role, he will report to both Richard Volpe, global head of rates, and Nat Tyce, head of global markets EMEA.

US-based block trading start-up OptimX selected a former Virtu buy-side sales specialist to become its new head of institutional sales. Michelle Butler joined OptimX to head up its buy-side business after most recently serving at Virtu for 19 years, managing sales for its POSIT Alert business. Prior to joining Virtu, she spent six years as head of sales and coverage at E-Crossnet – one of Europe’s first peer-to-peer crossing networks.

The post People Moves Monday: SIX Swiss Exchange, Millennium, HSBC and more… appeared first on The TRADE.

Richard Volpe

In the role, he will focus on “driving the growth and development of Nomura’s EMEA flow rates business, working closely with clients to provide value-added content and consistent liquidity provision”.

Shah has 15 years of industry experience and was most recently head of EGBs, bond derivatives and euro inflation trading at Deutsche Bank.

Read more: Nomura taps Jefferies for new head of flow credit for CEEMEA 

His expertise includes a proven track record of developing trading and risk management strategies. In this new role, he will report to both Richard Volpe, global head of rates, and Nat Tyce, head of global markets EMEA.

“His extensive knowledge of EMEA rates products and clients, combined with his experience in developing trading and risk management strategies, will help us meet our strategic goals and further strengthen our franchise in the region,” said Volpe. 

Shah’s appointment follows that of Mouloud Ameni as head of flow credit for Central and Eastern Europe, Middle East and Africa (CEEMEA), in January. 

Ameni was also added to the global flow credit leadership council upon his appointment, reporting to Eric Pang, global head of flow credit, as well as Tyce.

Prior to that, Ruchir Sharma, was named global head of foreign exchange option trading in November, having served at Deutsche Bank as co-head of APAC global foreign exchange.

The post Nomura appoints head of EMEA flow rates appeared first on The TRADE.

JP Morgan Chase & Co. appointed Dom Russo vice president, senior trader. Russo was promoted to the role having served as a senior associate at the firm since October 2021. Prior to his stint at JP Morgan Chase, Russo spent nearly four years at online investment management firm Nutmeg, most recently as senior trader. He has also previously served as an ETF trader for almost three years, following a six-month stint in a trading operations role at the firm. Elsewhere in his career, Russo spent three and a half years at James Hambro & Partners and one year at the British Arab Commercial Bank (BACB) in operations-focused roles.

Liquidnet appointed Caoimhe O’Driscoll as deputy head of block coverage desk for EMEA. O’Driscoll was promoted to the role after serving in a block sales and trading role at the firm since 2019. Prior to joining Liquidnet, she spent 5 years at London Stone Securities, most recently serving as an equity sales trader. Before that, O’Driscoll spent just over a year in a junior broker role at the firm.

The post People Moves Monday: Nomura, JP Morgan Chase, and Liquidnet appeared first on The TRADE.

Ameni will be London-based, reporting to Eric Pang, global head of flow credit, and Nat Tyce, head of global markets EMEA.

He joins 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.

“We are delighted to welcome Mouloud back to Nomura and are excited to have him lead our flow credit efforts in CEEMEA,” said Pang.

“His deep experience in credit trading and proven track record of building successful businesses will be invaluable as we look to expand our franchise in the region.”

As part of the role, Ameni will be responsible for building out Nomura’s flow credit trading and sales teams in the CEEMEA region, initially focusing on the Middle East and North Africa (MENA) markets.

Nomura’s flow credit business is a key component of its fixed income offering, providing clients with a range of trading and sales solutions across multiple asset classes.

“Mouloud’s appointment is a significant investment in our commitment to the CEEMEA region and demonstrates our focus on delivering best-in-class solutions to our clients,” added Tyce.

“We are confident that under his leadership, we will be able to leverage our strengths in credit trading and sales to drive growth and success in the region.”

Ameni’s appointment follows that of Ruchir Sharma, who was named global head of foreign exchange option trading at Nomura in November following a stint at Deutsche Bank where he served as co-head of APAC global foreign exchange.

Elsewhere, Zakria Hussain joined Nomura Group’s digital assets subsidiary Laser Digital as head of OTC trading last week, joining from Crédit Agricole, where he was most recently global head of eFX spot trading.

The post Nomura taps Jefferies for new head of flow credit for CEEMEA appeared first on The TRADE.

Ruchir Sharma was appointed global head of foreign exchange option trading at Nomura following a stint at Deutsche Bank where he served as co-head of APAC global foreign exchange. Based in London, Sharma will report to Kevin Connors, co-head of global FX and emerging markets and is set to leverage his two decades of experience in FX markets. In this new role, Sharma will be responsible for “leading the growth and development of Nomura’s FX Options business, enhancing both the bank’s client franchise offering and trading capabilities,” according to the business. In addition, he will focus on ensuring close coordination between the FX trading and sales teams. He was previously managing director and head of APAC FX trading at Credit Suisse for almost 13 years, and before that served as a director at Bank of America Merrill Lynch, where he ran the emerging exotic derivatives for ML Asia Pacific. 

Cantor Fitzgerald’s head of equities for Asia, Hani Shalabi, has left the firm to join emerging markets investment bank Arqaam as its new head of equities execution services. Shalabi will be responsible for leading and expanding the bank’s equity execution and distribution capabilities across the Middle East, Africa, and Asia. Arqaam confirmed that Shalabi will have a specific focus on enhancing the firm’s electronic trading capabilities as well. Shalabi most recently served at Cantor Fitzgerald as its head of equities for Asia, based in Hong Kong, a role he held for three years. Previously in his career, Shalabi spent two years as head of execution services for Asia at Deutsche Bank and 10 years at Credit Suisse as head of electronic trading for advanced execution services. He also previously spent two years at UBS as head of electronic trading for Asia. He began his career at Morgan Stanley supporting its trading platforms and infrastructure.

Barclays appointed Jean-Baptiste Patois as head of equity derivatives ex-strategic derivatives, Asia Pacific, responsible for leading exotics and flow derivatives. He was most recently managing director and head of equity derivatives trading, Asia ex-Japan at Nomura. Hong Kong-based Patois will report regionally to Hossein Zaimi, head of markets, APAC, and functionally to Ashish Prabhudesai, global head of structured derivatives and non-US Flow. Patois has a wealth of experience working in equity derivatives focused roles across several markets including North America and Europe. Past roles have included stints as head of exo, flow and hybrids for APAC at Credit Suisse and before that as an equity derivatives trader at Societe Generale Corporate and Investment Banking.

Kepler Cheuvreux Execution Services (KCx) added Sophie Egan to its high touch sales trading team, based in London. Egan was appointed equity sales trader, joining from Morgan Stanley where she spent the last two years in the same role. Elsewhere in her tenure at Morgan Stanley, Egan served as an analyst for two years. As part of her new role, Egan will help develop Kepler Chuevereux’s strategy to grow its execution footprint and expertise across the globe.

The post People Moves Monday: State Street Global Advisors, Nomura, Arqaam and more… appeared first on The TRADE.

Ruchir Sharma has been appointed global head of foreign exchange option trading at Nomura following a stint at Deutsche Bank where he served as co-head of APAC global foreign exchange.

Sharma takes over with immediate effect and will be based in London. He will report to Kevin Connors, co-head of global FX and emerging markets and is set to leverage his two decades of experience in FX markets.

In this new role, Sharma is set to be responsible for “leading the growth and development of Nomura’s FX Options business, enhancing both the bank’s client franchise offering and trading capabilities,” according to the business. In addition, he will focus on ensuring close coordination between the FX trading and sales teams. 

He was previously managing director and head of APAC FX trading at Credit Suisse for almost 13 years, and before that served as a director at Bank of America Merrill Lynch, where he ran the emerging exotic derivatives for ML Asia Pacific. 

Read more: Nomura names long-term Credit Suisse alumnus as head of US Delta One Index 

Speaking to Sharma’s appointment, Connors said: “His [Ruchir] extensive knowledge and expertise in FX options will undoubtedly be an asset to our team, and we are confident that he will play a key role in enhancing our client franchise offering and trading capabilities. 

Earlier this week, Barclays appointed previous head of equity derivatives trading, Asia ex-Japan at Nomura, Jean-Baptiste Patois, head of equity derivatives ex-strategic derivatives, Asia Pacific. In the role he is responsible for leading exotics and flow derivatives.

The post Nomura names new global head of FX options trading appeared first on The TRADE.

She was most recently vice president at the investment bank, responsible for the algorithmic trading performances of key clients, as well as undertaking strategic analysis.

During her tenure at Goldman Sachs, London-based Rashmi also previously worked as an associate and an analyst.

Prior to this, she worked as a group strategy analyst at HSBC, working across technology strategy, innovation, and blockchain.

Speaking to The TRADE, Arora said: “We are delighted to have Sonal as a new addition to the sales team. Her engineering and technical background, complemented by her in-depth microstructure knowledge, makes her an excellent addition to the team.”

Instinet, the independent equity trading arm of Nomura Group, completed its purchase of the FIS’ execution services business last October, just a few months after announcing the deal. FIS’ execution services unit offering includes trading algorithms and execution services, including direct market access and sales trading.

The post Ex-Goldman algo trading expert joins Instinet appeared first on The TRADE.

ClearToken is looking to address a missing piece in digital asset market structure – which has caused traditional asset management, insurance and banking institutions to face challenges when engaging with digital assets – by introducing traditional market structure best practices.

“Institutional adoption of digital assets has been limited until now because of combination of credit risks and operational frictions which have been solved in traditional markets through the development of financial market infrastructures,” said Ben Stephens, CEO of ClearToken, speaking exclusively to The TRADE.

“Whilst distributed ledgers make it possible to engineer near instantaneous and continuous settlement, the period between agreeing a transaction and settlement creates a timing gap which causes counterparty risk. ClearToken as a CCP solves this problem by having members face us instead of each other, simplifying and netting off risks and credit exposures and facilitating institutional participation.”

The startup is building a central counterparty (CCP) which will remove bilateral counterparty risk for settlement, financing and derivative transactions by centralising clearing, settlement, collateral and risk management arrangements, similar to traditional exchange traded assets.

The move will allow all participants to face the CCP as opposed to each other, which will result in more streamlined transactions, an increase in capital efficiency and a reduction of risk for all participants.

ClearToken noted that working with regulators globally to develop regulation to which the firm will comply, is central to the project in order to stabilise the current ecosystem and safeguard its participants with a regulated CCP as a key part of financial market infrastructure.

The startup is currently incubated by Laser Digital and is engaging with digital asset exchanges, liquidity providers, asset managers and other market participants as contributors and members to accelerate the next phase of the project.

“Digital asset technology has the potential to revolutionise financial markets offering enormous innovation in efficiency and transparency but we have also seen that it is a leap of faith to expect Defi to solve all market problems,” said Niki Beattie, chair of ClearToken.

“Clearing houses will remain an essential market participant; their integration into the digital asset market structure can bring much needed stability and allow the innovative nature of this sector to continue within the regulated framework required to fulfil its transformative ambitions.”

Dr. Jez Mohideen, CEO of Laser Digital added; “Laser Digital invests in projects which aim to address the challenges institutional investors currently face in the digital asset marketplace. ClearToken’s initiative has the capacity to remodel a marketplace fraught with bilateral risk, transforming this market as we know it. We’re proud to be an investor and early supporter of this very necessary innovation.”

The post Nomura’s Laser Digital invests in ClearToken to enhance institutional engagement with digital assets appeared first on The TRADE.

Nomura Securities appointed Joshua Lukeman as managing director and head of US Delta One Index. Lukeman joined Nomura from Credit Suisse, where he spent nearly 19 years in various leadership and trading roles within the firm’s equity finance business. Most recently, Lukeman served as head of the equity finance group for the Americas, where he oversaw multiple trading desks including equity synthetics, ETF and systematic marketing making. Before joining Credit Suisse, Lukeman spent six years at Morgan Stanley as an equity and index option market maker. At Nomura, Lukeman will expand the firm’s D1 Index and ETF products, alongside bringing additional expertise in related financing products to scale Normura’s broader US equities offering.

AI quantitative analytics provider Overbond appointed Chaim Hack as its new director of sales, based in London. Hack was previously director of business development at Coremont for just under a year, and for Coremont Digital for eight months before that. He was formerly with cybersecurity firm QOMPLX from May 2020 in a variety of roles. Hack first came to the UK in January 2014 as managing director of EMEA business for investment management software firm Enfusion, for whom he set up the firm’s first London office. He started his career in derivatives at JP Morgan, where he worked for six years.  

Fixed income investment banking boutique KNG Securities appointed CIS specialist Igor Nartov as emerging markets (EM) senior advisor. Nartov is a senior fixed income trader with more than 12 years’ experience in EM FX and rates markets. He joined KNG Securities from investment bank VTB Capital, where he oversaw the local currency government bonds trading franchise. Nartov also brings market-making experience in a wide range of products including FX, local rates, interest rates derivatives and structured notes in both EM and G10 areas.

Talomon Capital junior investment director and trader, Michael Truckle, left the firm to join Hudson Bay Capital Management. Truckle was appointed associate analyst at Hudson River Bay Capital after spending the last two years at Talomon. Prior to joining Talomon in 2021, Truckle spent nearly two years at JP Morgan in an emerging markets equities trading role and later in an equity capital markets syndicate role. Truckle was recognised as one of The TRADE’s Rising Stars of Trading and Execution in 2021 alongside peers from across various other buy-side institutions.

Global trading infrastructure provider Exegy made a string of key senior appointments including a new chief executive office, chief financial officer and chief technology officer – as part of its accelerated growth strategy. David Taylor was promoted to the role of chief executive officer, after serving in product strategy and engineering leadership roles at Exegy over the last 18 years. Taylor replaces James O’Donnel, who announced his retirement after leading the company since 2005.

Alongside Taylor’s appointment, Peter Feret was named chief financial officer. Feret brings 25 years of experience in shaping financial strategy for growing companies including Scripps Networks Interactive, which was acquired by Discovery Inc. and Ministry Brands. Elsewhere, Jason White, who has spent 20 years at Exegy, was promoted to the role of chief technology officer. During his tenure at Exegy, White has held leadership roles in engineering, solutions consulting, managed services and product strategy, most recently serving as vice president of product management for market data.

The post People Moves Monday: Busy week of change appeared first on The TRADE.

Lukeman joins Nomura from Credit Suisse, where he spent nearly 19 years in various leadership and trading roles within the firm’s equity finance business.

Most recently, Lukeman served as head of the equity finance group for the Americas, where he oversaw multiple trading desks including equity synthetics, ETF and systematic marketing making.

Before joining Credit Suisse, Lukeman spent six years at Morgan Stanley as an equity and index option market maker.

At Nomura, Lukeman will expand the firm’s D1 Index and ETF products, alongside bringing additional expertise in related financing products to scale Normura’s broader US equities offering.

He will be based in New York, reporting to Matthew Ferreira, head of US Delta One and equity finance.

“We are tremendously excited to have Josh lead our D1 index effort and look forward to a significant expansion of our client franchise and product offering under his leadership,” said Samir Patel, head of GM sales Americas at Nomura.

The post Nomura names long-term Credit Suisse alumnus as head of US Delta One Index appeared first on The TRADE.