UPDATE
PEOPLE MOVES FIXED INCOME
Citi moves elec-
tronic futures
trading role from
London to Asia Bond platforms form lobby group
to tackle MiFID II
Citi has reorganised its electron-
ic trading team, moving its glob-
al futures electronic execution
role from London to Singapore
The TRADE understands.
Robin Trott, former EMEA
head of futures electronic ex-
ecution, has been relocated to
Singapore to head up the Asia
Pacific electronic trading busi-
ness. Meanwhile Nirav Parikh,
the bank’s head of futures,
clearing and collateral (FCC)
execution for Asia Pacific, will
now be responsible for listed
derivatives execution globally.
Jason Stipe will replace Trott
as head of EMEA FCC electronic
execution in London.
The reshuffle follows the
creation of a new role for Paul
Marks within its prime services
business as global head of
quant prime brokerage. He
was previously global head of
electronic trading product and
electronic trading services.
The recent moves for Citi come
as banks look to refocus their
trading strategies, with regu-
lation shifting the majority of
activity onto electronic venues.
Key fixed income venues set up industry association to
deal with underrepresentation of electronic platforms.
S
everal fixed income trading
venues have got together to
form a lobby group aimed at repre-
senting the interests of electronic
bond markets.
The Electronic Debt Markets As-
sociation Europe (EDMA Europe)
has been set up by BrokerTec Eu-
rope, MarketAxess Europe, MTS
Group and Tradeweb Europe.
EDMA said it will work with
its members to develop collective
views on regulatory developments
impacting the electronic fixed-in-
come trading sector. It has set out
principles to guide its activity,
which include ensuring open access
and fair, transparent markets, diver-
sity of electronic trading protocols
and equivalent regulatory treatment
of all electronic trading platforms.
David Bullen has been appointed
as secretary general of EDMA and
will work closely with an executive
committee.
Commenting on the founding
of EDMA, Bullen said: “I look
forward to representing the views
and interests of existing and new
EDMA members who together
operate and run an essential com-
ponent of European Financial mar-
kets and who, to-date, have been
underrepresented in important
industry and regulatory circles.”
Tradeweb’s global head of busi-
ness development, Simon Maisey,
added: “In a heavily regulated in-
dustry, multilateral trading venues
such as Tradeweb have historically
had limited representation.
With MiFID II deadlines fast
approaching, it has become imper-
ative that trading venues are able
to have an active dialogue with
regulators and we believe that
EDMA Europe will provide the
right forum for such discussions.”
Winter 2016
TheTrade
13