Leaders in Trading 2022 Archives - The TRADE https://www.thetradenews.com/leaders-in-trading-2022/ The leading news-based website for buy-side traders and hedge funds Fri, 04 Nov 2022 14:41:25 +0000 en-US hourly 1 Louisa Paul accepts Lifetime Achievement Award at Leaders in Trading 2022 https://www.thetradenews.com/louisa-paul-accepts-lifetime-achievement-award-at-leaders-in-trading-2022/ https://www.thetradenews.com/louisa-paul-accepts-lifetime-achievement-award-at-leaders-in-trading-2022/#respond Thu, 03 Nov 2022 13:55:42 +0000 https://www.thetradenews.com/?p=87592 The award is in recognition of notable contribution and longstanding service to the industry.  

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Louisa Paul, global head of equity dealing at Barings Asset Management, last night accepted the Lifetime Achievement Award at the Leaders in Trading 2022 gala awards dinner.  

Collecting her award, Paul noted that although the industry had evolved significantly since she first started (with many places and faces no longer around), certain values remained the same.  

She thanked numerous colleagues and peers who had assisted her in her career, including Keith Wright, former global head of equity dealing at Barings, who brought her into the company and mentored her career as she rose through the ranks. She has spent 21 years at the firm.  

The TRADE would like to congratulate Paul on an accolade richly deserved. 

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Dr Robert Barnes is voted The TRADE’s first Industry Person of the Year https://www.thetradenews.com/dr-robert-barnes-is-voted-the-trades-first-industry-person-of-the-year/ https://www.thetradenews.com/dr-robert-barnes-is-voted-the-trades-first-industry-person-of-the-year/#respond Thu, 03 Nov 2022 11:00:09 +0000 https://www.thetradenews.com/?p=87565 The winner received a standing ovation from the room after a landslide victory in the evening’s vote. 

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Dr Robert Barnes

Turquoise CEO Dr Robert Barnes was named Industry Person of the Year last night following a vote by almost 300 attendees of The TRADE’s annual Leaders in Trading. 

The new awards category for 2022was voted for by ballot throughout the evening by all dinner guests, with the votes collected and counted at the end of the night.

Other nominees included Alasdair Haynes, CEO of Aquis Exchange (which won Outstanding Equities Trading Venue); Simon Dove, managing director, head of EMEA liquidity strategy at Instinet (which won Outstanding Trading Technology Provider); Virginie Saade, EMEA head of government and regulatory policy for Citadel; and Natan Tiefenbrun, president of Cboe Europe (with Cboe Global winning Outsanding Exchange Group).
 

Dr Barnes, who has served as CEO of London Stock Exchange Group’s MTF, Turquoise, since 2013, won the evening’s vote by a substantial margin. Upon collecting the award, he received a standing ovation from the room, marking the respect and affection in which he is held by the industry. He also gave an impromptu but inspirational speech, marked by quotes from Mohammed Ali.  

Dr Barnes is set to step down as Turquoise CEO by the end of the year, as reported yesterday by The TRADE.  

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Gallery: The TRADE’s Rising Stars of Trading and Execution 2022 https://www.thetradenews.com/gallery-the-trades-rising-stars-of-trading-and-execution-2022/ https://www.thetradenews.com/gallery-the-trades-rising-stars-of-trading-and-execution-2022/#respond Thu, 03 Nov 2022 10:56:18 +0000 https://www.thetradenews.com/?p=87560 Full gallery from The TRADE's 8th annual Rising Stars of Trading and Execution ceremony from 2 November at The Savoy.

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The TRADE announces the Rising Stars of Trading and Execution 2022 https://www.thetradenews.com/the-trade-announces-the-rising-stars-of-trading-and-execution-2022/ https://www.thetradenews.com/the-trade-announces-the-rising-stars-of-trading-and-execution-2022/#respond Thu, 03 Nov 2022 10:49:42 +0000 https://www.thetradenews.com/?p=87414 Running for its eighth year, the Rising Stars initiative recognises the budding buy-side talents of the institutional trading space.

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Running for its eighth year, the Rising Stars initiative, sponsored by Instinet, has recognised numerous promising talents over the years, many of whom have gone on to expanded roles such as head of trading as the world’s largest asset managers and hedge funds.

Find previous years’ recognised shortlists here: 2021202020192018201720162015.

Congratulations to all the winners below.

Joe BellmanDealing managerArbuthnot Latham
Chloe BowdenTraderUBS Asset Management
Sean ButcherTrader – Equity and FXLegal & General Investment Management
Christophe CarrizalesTraderSandbar Asset Management
Francine ChoiEquity traderBlackRock
Oriane CochardJunior equity traderT. Rowe Price
Leam ConleyEquity traderAXA Investment Management
Simone FoltranAssociate, global equity trading and analytics JP Morgan Asset Management
Bandar HarazySenior traderANIMA Asset Management
Emma HooperEquity traderCapital Group
Gustavo IglesiasSenior traderBestinver
Karan KapoorTraderCanada Life
Keong KimFixed income traderPinebridge Investments
Catriona LawlorFX traderBaillie Gifford
Alexandre MarieTraderEleva Capital
Anastasia ObukhovaEmerging markets traderJP Morgan Asset Management
Rishi Patel Senior emerging market traderBarings Asset Management
James StringerMulti-asset dealerCoutts & Co
Emma TappHead of tradingHighclere International Investors
Grace Wiseman Equity traderFMR Investment Management

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Leaders in Trading 2022 Gallery https://www.thetradenews.com/leaders-in-trading-2022-gallery/ https://www.thetradenews.com/leaders-in-trading-2022-gallery/#respond Thu, 03 Nov 2022 10:35:53 +0000 https://www.thetradenews.com/?p=87512 Click here for the full gallery from The TRADE's Leaders in Trading awards from the Savoy, London.

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The TRADE announces Leaders in Trading 2022 award-winners https://www.thetradenews.com/the-trade-announces-leaders-in-trading-2022-award-winners/ https://www.thetradenews.com/the-trade-announces-leaders-in-trading-2022-award-winners/#respond Thu, 03 Nov 2022 10:29:14 +0000 https://www.thetradenews.com/?p=87554 Almost 300 industry leaders gathered at The Savoy hotel in London to celebrate their achievements throughout the year.

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The TRADE is delighted to announce the winners of this year’s Leaders in Trading awards, with the recipients honoured at a ceremony held last night at The Savoy, London.

Nearly 300 industry leaders joined The TRADE in a sold-out room to recognise the year’s leading individuals and firms within the industry, with 36 awards handed out across buy-side, editors’ choice, algorithmic trading, EMS and fintech categories.

Input for the coveted Buy-Side awards, awarded in partnership with SIX Swiss Exchange, was opened to the industry after a lengthy period of industry consultation prior. This year, the highly anticipated award for Trader of the Year went to Grainne O’Connor of Fidelity International.

UBS Asset Management, headed by Stuart Lawrence, took home the award for Trading Desk of the Year. Meanwhile, Liontrust and Ninety One received the awards for Multi-Asset Trading Desk of the Year and Fixed Income Trading Desk of the Year, respectively.

In another individual award recognition, Simon Steward of Capital Group, was honoured with the Buy-Side Market Structure Expert of the Year award.

This year’s prestigious Lifetime Achievement award for the buy-side was handed to Baring Asset Management’s Louisa Paul, in recognition of her contributions to the industry, with more than 20 years spent with the asset manager.

The Editors’ Choice categories are always highly competitive, and this year proved no exception. Across the 14 awards, this year’s winners – as judged by The TRADE’s editorial panel – were all worthy given their achievements over the last year.

In the trading venues arena, Aquis Exchange, Cboe BIDS Europe, LedgerEdge and LSEG (Refinitiv FXall) each took home Oustanding Trading Venue awards, while Cboe Global was crowned overall Outstanding Exchange Group. big xyt claimed the crown for Outstanding Market Data Provider, and elsewhere,  Instinet collected the Outstanding Trading Technology Provider award.

This year, Appital was crowned FinTech of the Year, in the category supported by Instinet.

Within the Algorithmic Trading & EMS categories – which are based on the results of The TRADE’s annual surveys –  several firms took home multiple awards. Bernstein won two honours from the algorithmic trading category: Best Trading Performance and Best Price Improvement Capabilities. Berenberg also received two awards in the algorithmic trading category, Best Customer Support and Consulting, alongside Best Client Service. Another double winner within the algorithmic trading category was BNP Paribas Exane, which was honoured with the Best Large-Cap Provider and Best User Experience awards. Meanwhile in the EMS category, Virtu Triton received two awards; Best Market Access and Best Platform Reliability.

Prior to the Leaders in Trading awards dinner, The TRADE also recognised this year’s Rising Stars of Trading and Execution, 20 of the buy-side’s up and coming talents of the future. The ceremony for the Rising Stars marked the eighth annual event, with many of the previous year’s winners now earning nods within the Leaders in Trading categories.

Congratulations to all of this year’s winners:

EMS Awards

Winner

Best Market Access

Virtu Triton

Best Platform Reliability

Virtu Triton

Best Large-Cap Provider

TS Imagine

Overall APAC

TORA

Overall Europe

FlexTrade

Overall North America

Neovest

 Algorithmic Trading Awards

Winner

Best Trading Performance

Bernstein

Best Access to Market

Redburn

Best Price Improvement Capabilities

Bernstein

Best Customer Support and Consulting

Berenberg

Best Large-Cap Provider

BNP Paribas Exane

Best Provider – Multi-User Clients

JP Morgan

Best User Experience

BNP Paribas Exane

Best Client Service

Berenberg

 Editors’ Choice Awards

Winner

Outstanding Exchange Group

Cboe Global Markets

Outstanding Equities Trading Venue

Aquis Exchange

Outstanding Dark Trading Venue

Cboe BIDS Europe

Outstanding Fixed Income Trading Venue

LedgerEdge

Outstanding FX Trading Venue

LSEG (Refinitiv FXall)

Outstanding Derivatives Exchange Group

ICE

Outstanding Alternative Liquidity Provider

Flow Traders

Outstanding Post-Trade Services Provider

Euronext

Outstanding Market Data Provider

big xyt

Outstanding Trading Technology Provider

Instinet

Best Challenger Exchange

FTX

Outstanding Innovation in Fixed Income

BondCliQ

Best Electronic Trading Initiative

Liquidnet Primary Markets

Digital Asset Player to Watch

Matrixport

 FinTech of the Year

Appital

 Buy-side Awards

Winner

Trader of the Year

Grainne O’Connor, Fidelity International

Trading Desk of the Year

UBS Asset Management, Stuart Lawrence

Multi-Asset Trading Desk of the Year

Liontrust

Fixed Income Trading Desk of the Year

Ninety One

Buy-Side Market Strcture Expert of the Year

Simon Steward, Capital Group

 Lifetime Achievement

Louisa Paul

 Industry Person of the Year

Robert Barnes

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Tonight’s the night… Leaders in Trading 2022 https://www.thetradenews.com/tonights-the-night-leaders-in-trading-2022/ https://www.thetradenews.com/tonights-the-night-leaders-in-trading-2022/#respond Wed, 02 Nov 2022 13:28:43 +0000 https://www.thetradenews.com/?p=87447 The TRADE is delighted to welcome nominees and guests to our annual Leaders in Trading gala awards night at The Savoy Hotel in London.  

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And now, it’s the moment we’ve all been waiting for. The Savoy Ballroom is prepped and ready, the silverware is laid out, the candles are waiting to be lit… and all it needs are the guests.  

The big night has finally arrived, and The TRADE is delighted to welcome our guests and shortlisted candidates for our long-awaited Leaders in Trading Awards for 2022. Only the second year we’ve been back after Covid, the night promises to be one of the best of the year. 

It’s our biggest event ever with almost 300 attendees, and with 36 categories covering buy-side, sell-side, service providers, technology firms and venues, not to mention our exceptionally popular Rising Stars of Trading and Execution, the awards cover every aspect of the industry, recognising the hard work and exceptional achievements delivered by the best-in-class performers over the past year.  

For all our guests this evening, we can’t wait to celebrate with you – and for those unable to be with us this year, watch out for the photos tomorrow and read all about the final winners in our Thursday newsletter.  

With thanks to our sponsors: Instinet, LSEG, SIX Swiss Exchange and big xyt, we look forward to welcoming you.  

Cheers!  

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Leaders in Trading 2022: Meet the nominees for…. Outstanding Market Data Provider https://www.thetradenews.com/leaders-in-trading-2022-meet-the-nominees-for-outstanding-market-data-provider/ https://www.thetradenews.com/leaders-in-trading-2022-meet-the-nominees-for-outstanding-market-data-provider/#respond Wed, 02 Nov 2022 13:16:40 +0000 https://www.thetradenews.com/?p=87443 Learn more about the five firms shortlisted for our Editors’ Choice Award for Outstanding Market Data Provider this year: including big xyt, BMLL, Bloomberg, FactSet and Parameta Solutions, TP ICAP.

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The TRADE is delighted to introduce the shortlist for this year’s Editors’ Choice, Outstanding Market Data Provider. The shortlisted market data providers have all experienced great years and achieved outstanding performance. Learn more about our shortlisted candidates below, including big xyt, BMLL, Bloomberg, FactSet and Parameta Solutions, TP ICAP.

big xyt

big xyt provides independent smart data and analytics solutions to the global trading and investment community. The market data provider allows firms to process and normalise large data sets on demand and in real time, allowing execution performance to be analysed, compliance with regulatory standards, and to reduce the complexity and costs of technology and operational requirements.

big xyt’s security analytics solution, Liquidity Cockpit, helped position the firm as an independent reference for equity market structure, alongside serving as a building block for more accurate benchmarking of global execution strategies. In addition, Open TCA, which is used for execution analytics, is redefining independent analysis with optimal flexibility for the user, according to big xyt. The firm provides actionable insights for complex markets, while providing flexibility for data scientists and clarity for decision makers.

Over the past year, big xyt has partnered with a number of firms to improve market data access. In November last year, big xyt and ETFbook partnered to improve transparency in European ETF/Ps. The partnership looked to make it easier to identify available products across any segment or exposure. In February, big xyt partnered with Cambridge University to launch a Global Exchanges Directory to centralise key information on major exchanges into a single portal for easy reference.

Elsewhere, Cowen Execution Services integrated big xyt data to drive European equities trading growth. The integration offers additional market structure visibility and provides clients with access to liquidity opportunities, Cowen said.

BMLL

BMLL Technologies is a provider of harmonised, Level 3 historical data and analytics to the world’s capital markets participants. The firm offers banks, brokers, asset managers, hedge funds, global exchange groups and academic institutions immediate and flexible access to the most granular Level 3, T+1 order book data and advanced analytics, in a harmonised format.

Over the last 14 months, the company claims to have doubled  its revenue alongside adding Tier 1 clients including investment banks, exchanges, buy-side firms and regulators. In March, BMLL expanded geographically, with Tim Baker appointed as senior adviser, responsible for growing the firm’s US client base, and developing and implementing the company’s growth strategy in the region.

In November 2021, BMLL expanded into futures, offering full-depth Level 3 futures order book data from CME, Eurex and ICE in one harmonised format. Full-depth order book data covers equity indices, fixed income, short-term interest rates, commodities, cryptocurrencies and FX.

Elsewhere, BMLL introduced the Exchange Market Participant Analytics (EMPA) service in November last year – a managed service for exchanges to better analyse and understand their market participants. The service allows exchanges to analyse and report on granular executions per liquidity provider to benchmark and report activity. 

In February, BMLL also became one of the founding members of the Sustainable Trading initiative, a membership network set up by industry veteran, Duncan Higgins, to drive positive change in the financial markets trading industry by helping firms improve the ESG performance of their trading businesses.

Bloomberg

Bloomberg’s market data feed generates value from data across the enterprise. A consolidated feed from 35 million instruments provides normalised data, enhancing analysis and decisions from front-office to operations. Bloomberg offers flexible delivery options including cloud and API, and with timely accurate data, enterprises are able to capture opportunities, evaluate risk and ensure compliance in fast-moving markets.

The Bloomberg Market Data Feed (B-PIPE) offers global connectivity to consolidated, normalised market data in real time. B-PIPE, which was built for the front-office, provides coverage of all the same asset classes as the Bloomberg Terminal.

Over the past year, Bloomberg has collaborated with a range of companies to offer improved market data access. In March, Bloomberg launched real-time data access on Google cloud. The Google cloud collaboration gives both front and back-office professionals access to Bloomberg’s tick-for-tick data and real-time analytics services.

In July, GAM Investments integrated a suite of solutions from Bloomberg in a bid to simplify its risk and portfolio management capabilities. The asset manager will use the suite of buy-side solutions to manage market risk exposure and liquidity and investment risk.

In June, Bloomberg revealed plans to launch new set of tradable trackers based on its own indices. Tradeable Trackers, the new indices set to launch in Q4, are expected to deepen liquidity and improve intraday price transparency.

FactSet

FactSet offers data solutions that powers users’ investment workflows with hundreds of fundamental and alternative datasets backed by advanced data connectivity. FactSet offers over 40 years of data collection, integration, and management behind clients’ investment strategy and leverages open technology and flexible delivery options to maximise the value of clients’ data. The firm allows users to monitor global markets, research public and private companies, and gain industry-level insight with multi-asset class coverage, governance, and linking of financials, estimates, debt, ESG, news and research, and more.

In December last year, FactSet snapped up CUSIP as S&P Global ended its more than 50-year relationship with the company. As part of the acquisition, ‘Gold standard’ for securities identifiers, CUSIP became part of FactSet Content and Technology Solutions.

On the EMS side, FactSet has partnered with a couple of firms over the past year. BlackRock continued its Aladdin expansion with FactSet EMS integration in February this year. The multi-year partnership sees mutual clients of FactSet’s EMS and BlackRock’s flagship platform optimise trading workflows through a turnkey solution. Elsewhere, FactSet expanded its asset class offering with new fixed income trading capabilities. The offering on FactSet’s Portware trading solution allows clients to trade efficiently across more asset classes.

In July, State Street streamlined data flows through a partnership with FactSet. The collaboration promised an improved experience from client portals for equity, fixed income and multi-asset strategies.

Parameta Solutions, TP ICAP

Last year, Interdealer broker TP ICAP rebranded its data and analytics division and combined it with the post-trade business under one umbrella. Operating as Parameta Solutions, the new division includes TP ICAP’s data and analytics products and solutions with post-trade services. 

Parameta Solutions, TP ICAP offers OTC market data, from pre- to post-trade, which helps clients manage complex markets more effectively. The firm’s global platform offers clients access to scarce and valuable OTC market data and information-led products.

Parameta Solutions draws data from brands in the industry, including Tullett Prebon, ICAP and PVM, and covers all major asset classes.TP ICAP’s portfolio of brands offers deep liquidity pools and the firm’s pricing sources, technology infrastructure and delivery options help clients address their challenges. In addition, the company supports clients in meeting regulatory requirements, managing risk, improving operational efficiency and implementing new technology.

In August, Parameta Solutions partnered with PeerNova to launch a consensus network for independent price valuation. The two firms claimed that the service improves both business resilience and regulatory response by addressing the evolving risk environments for price valuation and control groups at banks globally.

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Leaders in Trading 2022: Meet the nominees for…. FinTech of the Year https://www.thetradenews.com/leaders-in-trading-2022-meet-the-nominees-for-fintech-of-the-year/ https://www.thetradenews.com/leaders-in-trading-2022-meet-the-nominees-for-fintech-of-the-year/#respond Wed, 02 Nov 2022 12:32:14 +0000 https://www.thetradenews.com/?p=87429 Meet the industry innovators listed for The TRADE’s FinTech of the Year award, in partnership with Instinet. Appital, Capital Markets Gateway (CMG), Enfusion, Genesis Global, OpenGamma and Saphyre are fighting it out for the prize this year.  

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One of our most hotly contested awards, FinTech of the Year recognises the pioneers shaking up the way the industry operates, creating new pathways and developing best-in-class, cutting edge technology solutions. This year we’ve got a diverse and eclectic crowd competing for the crown: including an algorithmic book-building platform, a cloud-based OEMS, a low-code app development platform, and more. Read on to discover the candidates for 2022’s FinTech of the Year. 

Appital 

FinTech pioneer Appital, in partnership with the London Stock Exchange Group’s (LSEG) pan-European trading venue, Turquoise, this year launched crucial new bookbuilding technology for the buy-side.  

Mutual buy-side users are now able to gain access to liquidity sourced on Appital’s platform and a single point of access for deal execution via the Turquoise venue, with straight-through processing to its network of settlement venues. The Appital platform allows institutional investors to execute large volumes with minimal market impact or risk of price erosion, and to filter the types and sizes of opportunities they are looking for using specific requirements. 

It aims to give buy-side firms better exposure to deal flow opportunities by providing heads of trading and portfolio managers a more holistic picture of liquidity and illiquid small and mid-cap stocks. 

The platform went live in August, with Norges Bank Investment Management (NBIM) completing the first trade, and it has proven to be highly popular with the buy-side, with over 30 asset managers signing up prior to launch.  
 
The initiative has also been heavily supported by the industry, recently receiving an additional £1.7 million from Frontline Ventures and several other angel investors earlier this month, taking its total investment to date to £4.85 million. 
 
“[It] gives asset managers the opportunity to be proactive, gain access to deal flow opportunities and encourage liquidity in the market,” explained Paul Squires, head of trading for EMEA equities and Henley fixed interest at Invesco, a buy-side user of Appital, speaking to The TRADE. 

Capital Markets Gateway (CMG) 

CMG’s platform streamlines workflows and delivers information and analytics in real-time providing users with speed to market and analysis vital to decision making. CMG’s platform offers a simpler way to monitor the capital raising landscape, perform due diligence, make investment decisions and collaborate. 

Earlier this year, the FinTech launched its end-to-end equity capital markets (ECM) platform, CMG XC, which digitally connects the buy-side and the sell-side. 

The XC platform transforms ECM, CMG said, by providing connected infrastructure across industry participants and streamlining the entire new issue lifecycle – essentially improving the way ECM deals are managed. 

Speaking to The TRADE, Greg Ingram, co-founder and CEO of CMG said: “The value of streamlined communication and workflows from a broad range of participants underscores the efficiencies of leveraging a common platform to serve the mutual benefit of both underwriters and institutional investors.  

“Underwriters will use XC to publish an offering to potential investors simultaneously, thereby eliminating the inherent inefficiencies of analogue communications, namely redundant emails and a wave of telephone calls.” 

Following several trial offerings, the launch enabled connectivity across syndicate banks including Goldman Sachs, JP Morgan and Morgan Stanley interacting with asset managers such as Fidelity Investments, Franklin Templeton and T. Rowe Price Investment Management, amongst others, via the CMG XC network. 

Enfusion 

Cloud-native software-as-a-service (SaaS) provider Enfusion this year launched a pioneering new order and execution management system (OEMS) named Enfusion Express, backed by Cowen.  

The new solution is tailored specifically to the needs of smaller fund managers with AUM typically less than $100 million. Enfusion describes the new system as a means for smaller managers with limited recourses, but comprehensive requirements, to access sophisticated pre-trade, execution, and post-trade solutions. In addition, Enfusion Express will help reduce manual processes, improve real-time, portfolio-level visibility, and streamline connectivity to managers’ execution, fund administration, prime brokerage and other partners. 

As the size and complexity of these small funds grow, they can easily upgrade to Enfusion’s platform for enhanced OEMS capabilities, full portfolio management and accounting functions, analytics, and outsourced managed services. 

“Enfusion Express addresses the operational needs of smaller funds, both newly launched and existing, that remain an underserved but growing segment of the market. Sell-side firms are recognizing and responding to their unique needs, as evidenced by an uptick in solutions like outsourced trading desks. We see an opportunity to provide best-in-class solutions to these managers as they look to scale their firms while deepening our relationships with our ecosystem partners,” said CEO Thomas Kim. 

Genesis Global 

The Genesis low-code application development platform accelerates the software development process for clients across financial services.

Following a $200 million Series C funding round earlier this year, the firm received a further $20 million from investors including Bank of America, BNY Mellon and Citi, which will allow the app developer to expand its operations as interest in its platform continues to grow. 

Genesis has been utilised by financial markets companies to accelerate the application development process, allowing for an increase in the pace of technology innovation alongside operating and upgrading complex legacy systems. 

“Our clients and environment demand more innovation and productivity in terms of IT output,” said David Trepanier, head of structured products, global credit and special situations at Bank of America. “The low-code solution provided by Genesis accelerates the development process and allow us to more quickly build out and launch new trading protocols and processes.” 

Financial services firms have made digital transformation a priority as they seek to differentiate themselves, reduce the cost and complexity of existing systems, innovate and to adapt better to changing regulation, and Genesis is being used by firms across the software value chain to automate spreadsheet processes, enhance existing systems, replace legacy technology and to develop new, more robust, first-time applications. 

“Our investment in and collaboration with Genesis allows us to create applications and solutions faster to meet the increasing demands of our clients,” said Avi Shua, CIO, head of investment management, wealth management and pershing technology at BNY Mellon. “The ability to develop, customise and integrate applications with speed is critical, and provides our developers a toolset to make robust and flexible platforms that can scale. 

OpenGamma 

London-based margin optimisation FinTech OpenGamma helps asset managers to increase the efficiency of portfolios through collateral management.  

In February this year Allianz X, the digital investments unit of the investment manager, and its subsidiary PIMCO, led a $21 million funding round for the firm, the proceeds of which were used to expand its existing offering, including the launch of automated workflow solutions for the treasury management of asset managers.  

“OpenGamma’s solutions are a small revolution for many investors and asset managers,” said Kevin Harder, manager at Allianz X. “Thanks to OpenGamma, collateral management is no longer a back-office issue but instead becomes an active performance driver.” 

The additional funding follows several partnerships with OpenGamma in the last few years with the buy-side and other analytics providers. Most recent was its partnership with hedge fund Aspect Capital in March 2021, which saw the systematic investment manager increase its use of OpenGamma’s margin analytics across the markets it trades, building on an existing relationship since 2018. 

Saphyre 

Saphyre has been making waves this year with its interoperable AI technology that helps firms to digitise, structure and maintain memory of shared data and documents in pre-trade. This allows firms to assess risk faster, as well as speeding up the onboarding process by eliminating inefficiencies in the booking, confirmation, and settlement process. 

Saphyre claims it allows firms not only to assess risk faster and more clearly, but also speed up their onboarding processes and eliminate 70-75% of redundant or inefficient post-trade activities. 

Since its launch in 2017, the firm has received 104 issued patents and has been integrated with seven different platforms as part of its interoperability design. 

In March 2022, JP Morgan and BNP Paribas backed the firm in a Series A round of $18.7 million, which the FinTech is using to accelerate its product development initiatives in both its pre- and post-trade offerings, as well as to support its ongoing expansion of interoperability initiatives with a number of other FinTech/vendor solutions in the industry. 

The winner of Best Challenger Exchange will be announced at the Leaders in Trading 2022 gala awards dinner at The Savoy Hotel on 2 November.  

 

 
 

 

 

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Leaders in Trading 2022: Meet the nominees for…. Outstanding Trading Technology Provider https://www.thetradenews.com/leaders-in-trading-2022-meet-the-nominees-for-outstanding-trading-technology-provider/ https://www.thetradenews.com/leaders-in-trading-2022-meet-the-nominees-for-outstanding-trading-technology-provider/#respond Tue, 01 Nov 2022 12:51:03 +0000 https://www.thetradenews.com/?p=87411 Learn more about the five firms shortlisted for our Editors’ Choice Award for Outstanding Trading Technology Provider this year: including BTON Financial, Broadridge Trading and Connectivity Solutions, FlexTrade, Instinet, ION Markets and TS Imagine.

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The TRADE is delighted to introduce the shortlist for our Editors’ Choice Award for Outstanding Trading Technology Provider. These shortlisted trading technology providers have all experienced great years and achieved outstanding performance. Learn more about the candidates below, including BTON Financial, Broadridge Trading and Connectivity Solutions, FlexTrade, Instinet, ION Markets and TS Imagine.

BTON Financial

BTON Financial – which offers asset managers a solution for best-execution – uses machine learning to continuously improve its decision making on order routing destination for trades. The firm offers a technology platform that can used collaboratively by asset managers, where a statistically relevant TCA data set can shared and leveraged by users.

Over the past year, BTON Financial added a rules engine module to its solutions, enabling financial firms to automate workflow, alongside ensuring compliance with in-house rules such as no trade lists, position limits and ESG metrics. In addition, the solution allows differentiation for which trades should be ‘high-touch’ and which are suitable to be passed straight into execution algos. BTON Financial states that the solution is a very flexible product that can be used in a variety of ways depending on firm’s existing set up and/or procedures.

Broadridge Trading and Connectivity Solutions

Broadridge’s middle-office solution is a front-and-back-office agnostic SaaS solution that provides firms with the ability to achieve operational efficiency and cost effectiveness by automating and simplifying street and client middle-office workflow. This enables clients to focus on exception management, the reduction of complexities, and the elimination of the gaps between trading, clearing and reporting.

Over the last year, Broadridge made a strategic investment into creating a stand-alone middle-office solution, driven by demand from clients that faced the high cost of disparate solutions/workflows and being dependent on front or back-office solutions. Broadridge’s asset class coverage includes equities, fixed income, SWAPs, options, futures and ETDs, alongside the standardised integration with front and back-office applications.

Broadridge’s post-trade solution, NYFIX Matching, facilitates intraday allocations and improves post-trade processing, while mitigating end-of-day risk. The solution allows the buy-side to allocate and affirm trades with brokers and prime brokers and arrange for payment and settlement with their custodians through one consolidated platform. NYFIX Matching is ready for a T+1 settlement cycle and can send trade and allocation details to prime brokers, on T+0, after a trade is matched.

FlexTrade

Over the last 25 years, FlexTrade’s core mission has been to solve challenges in the front-office by providing ultra-high performance, customisable multi-asset trading technology underpinned by a strong focus on innovation and deep client partnerships. This year, FlexTrade has continued focus on that mission, making strides in building out its multi-asset solution, FlexTRADER EMS.

In 2021, multiple Tier 1 asset management firms with a cumulative $3 trillion of asset under management chose FlexTRADER EMS as a technology partner for equities, FX and fixed income execution management. This includes T. Rowe Price for fixed income, APG Asset Management for multi-asset EMS and Coronation for global equity and derivatives trading. This year, FlexTrade also successfully launched its OEMS solution, FlexONE, in EMEA.

Elsewhere, FlexTrade has made improvements to the overall architecture of its solution to reduce custom code, improve client onboarding, reduce time to market and enhance scalability of the solution. According to FlexTrade, clients are being moved across to the new architecture and are benefiting from the ability to increase trading volumes without performance degradation.

Instinet

 Since its inception in 1969, Instinet has led with the viewpoint that technology can bring greater efficiency to financial markets. Today, as part of Nomura Group, Instinet’s global agency models offers services that range across the entire investment life cycle. Instinet has built adaptive technology, leveraging decades of experience to fine-tune its capabilities to an ever-changing marketplace and to meet the evolving needs of its clients.

As a company, Instinet provides the institutional investment community with a range of tailorable solutions, including market insights and commentary, full service trading desks, advanced algorithmic trading strategies, access to unique and specialised liquidity through a range of crossing pools, and a set of workflow solutions engineered to help clients manage their investment processes efficiently.

According to Instinet, its agency model focuses primarily on client performance and transparency, with the aim of assisting clients with achieving best execution and achieve better performance.

Last month, Instinet completed the acquisition of FIS’ execution services business, formerly known as Fox River. FIS’ execution services unit offers execution solutions including trading algorithms and execution services, including direct market access and sales trading. Once fully integrated, the new offering will be called Instinet Fox River Quant Solutions and will be delivered alongside Instinet’s core solutions business. It will initially be rolled out in the Americas with scope for this to expand in the future.

Earlier this year, Instinet expanded the remit of its block trading venue in Asia to include a conditional order book to help users minimise costs and market impact when trading large orders. Now known as BlockMatch Asia, the non-displayed alternative liquidity pool for equities trading consists of a standard dark continuous limit crossing order book, a market on close book offering primary exchange auction closing prices and a new conditional book for the submission and management of conditional orders.

Elsewhere, Instinet became the first executing broker for the Appital platform ahead of its launch. Through the collaboration, any flow formed and negotiated on the Appital platform by asset managers can be executed via Instinet. The equity capital marketplace and bookbuilding platform aims to give buy-side users access to deal flow they might not have previously been able to, allowing institutional investors to execute large orders in pan-European hard to trade stocks by “unlocking” latent liquidity.

ION Markets

ION Markets provides technology and data solutions to financial institutions dealing in equities, fixed income, foreign exchange, cleared derivatives, asset management, and secured funding. The trading technology provider’s capital markets solutions digitise and automate workflows, bost efficiency, and enable better decision-making. ION Markets continuously innovates and designs solutions and services to allow clients to achieve more at a lower cost and to be more successful in the long term.

Over the past year, ION Markets launched a new compliance SaaS solution as part of its asset management offering. The solution evolved from the provider’s hosted compliance solution, delivering an automated compliance checking process, greater investment transparency, as well as the ability for real-time oversight of pre- and post-trading – covering all asset types and geographies.

Elsewhere this year, ION Markets enhanced LookOut, a multi-asset equities trading solution for investment firms, both on the buy-side and sell-side, as well as trading venues, delivering a larger range of data monitoring with near real-time regulatory reporting and business analytics.

TS Imagine

In 2021, cloud-based SaaS trading applications provider TradingScreen and Imagine Software merged to form TS Imagine, backed by private equity firm Francisco Partners. Leveraging knowledge and decades of experience between both companies, TS Imagine provides a SaaS-based trading, portfolio management and real-time risk solution. The trading technology provider offers capabilities across asset classes in trade analytics and execution, order management, portfolio monitoring, real-time risk analyses, compliance and margin calculations.

With increasing innovations in blockchain and crypto trading, TS Imagine leverages existing technology to make it easier for clients to find liquidity and increase exposure to digital assets within a secure framework. In addition, connectivity to multiple trading venues using a Smart Order Router (SOR) facilitates best execution at a given point in time.

TS Imagine considers access to liquidity as a top priority for its global asset management clients, with constant additions of new connections to partners that can provide liquidity discovery opportunities. In April, equity capital marketplace Appital integrated its bookbuilding platform with TS Imagine to bring innovation and automation to the market, and to unlock liquidity more efficiently. TS Imagine also has plans to build a more sophisticated fixed income trading platform to provide access to different market venues and direct dealer connectivity to source bond liquidity and reduce trading costs.

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