The TRADE 60 | Page 8

The head of order routing and execution
products at Bank of America Merrill Lynch
has departed the bank after almost a decade
to take up a senior position within the equities
business at Cboe Global Markets.
Adam Inzirillo has been appointed senior vice
president and head of US equities in New York
at Cboe, responsible for overseeing product
development and the strategic growth of the
exchange group’s US equities franchise globally.
Jupiter Asset Management has confirmed
that the global head of finance at rival Schrod-
ers will join the firm as chief financial officer in
September.
Wayne Mepham will also join Jupiter’s com-
pany board and executive committee, bringing
more than 23 years’ experience in financial
services. He has been with Schroders for the
past nine years, and prior to that, held various
senior roles at PwC where he worked with the
company’s asset management, insurance and
banking clients.
Kay Swinburne, one of the authors of the
European Union’s MiFID regulations, is set to
join audit firm KPMG in the UK.
She joins KPMG to chair its risk and regulatory
insight centre (RRIC) division, and work closely
with Karim Haji, head of financial services,
advising his leadership team and supporting
board, and C-suite level client relationships.
UK investment bank Barclays has recruited
a 12-year JP Morgan trading veteran to lead its
global equities franchise amid major invest-
ment in the business.
Fater Belbachir has been appointed global
head of equities at Barclays in charge of leading
the equities trading division across cash,
derivatives, prime and syndicate in London. He
replaces Stephen Dainton, who was promoted
to interim head of markets following the depar-
ture of Tim Throsby in March.
NEWS UPDATE
NEWS UPDATE
FIXED INCOME TECHNOLOGY
MarketAxess lifts the lid on
Portfolio Trading solution Liquidnet bolsters platform with RSRCHXchange acquisition
Portfolio Trading solution under develop-
ment in response to growing client de-
mand is expected to launch in Q3 2019.
M
arketAxess has announced the development of a
new Portfolio Trading solution for the fixed income
markets in response to an increase in basket trading.
The Portfolio Trading solution, expected to launch in
autumn this year, will initially be available for price and
spread disclosed-trading, before expanding into Mar-
ketAxess’ anonymous all-to-all Open Trading protocols.
According to MarketAxess, the solution will allow users
to trade on both price and spread for hundreds of differ-
ent bonds with flexible negotiation options, submit inqui-
ries to leading liquidity providers for improved competi-
tive pricing, and access market data and pricing analytics
to optimise portfolio pricing and execution quality.
“Improving trading efficiency and the certainty of exe-
cution for clients is our top priority,” said Chris Concannon,
president and chief operating officer at MarketAxess.
“Our Portfolio Trading protocol will help address both pri-
orities by creating a streamlined solution for institutional
investors to market and transact large, customised, fixed
income portfolios that ultimately demonstrates best
execution with competitive pricing and industry-leading
analytics.”
In May, this year, MarketAxess also unveiled plans to
establish a live order book providing market participants
with a view of two-way, actionable prices in the most
actively traded bonds on its Open Trading marketplace.
The company said that the live order book, known
as Live Markets, will include prices for bonds including
newly-issued debt, benchmark issues and news-driven
securities, with several market makers already indicating
support for the product.
Liquidnet has acquired institutional research marketplace and aggregator RSRCHX-
change to expand its AI-based analytics platform.
L
iquidnet has acquired institutional research marketplace
and aggregator RSRCHXchange, expanding its platform
to provide clients with access to global market research.
In a statement, Liquidnet said that RSRCHXchange’s
technology, research and distribution will be combined with
its artificial intelligence-based analytics platform, for buy-
side firms to source, access and evaluate market insights.
Terms of the deal were not disclosed.
“This acquisition brings the worlds of investment
research and alternative data together in a fundamentally
new approach to alpha creation. We can now support our
Member firms across the entire investment spectrum—
from idea to implementation,” said Brian Conroy, president
of Liquidnet.
“By adding RSRCHXchange to our already extensive net-
work, we are taking another important step in our mission
to intelligently connect the world’s investors to the world’s
investments and leverage technology to add value to each
stage of the investment process.”
Founded in 2015, RSRCHXchange’s platform deploys
analytics to personalise client experience and streamline
workflows around investment research as the industry
adapts to unbundling under MiFID II in Europe.
“The investment research process has barely evolved in
the past 20 years. RSRCHXchange was created to leverage
technology-driven solutions to empower members of an
investment team to efficiently access the most rele-
vant research and market insight to help inform their
investment decisions,” said Vicky Sanders, co-founder of
RSRCHXchange.
RSRCHXchange’s research marketplace consists of 400
research providers, with 40% of the research coming from
investment banks and sell-side brokers. Around 1,200 buy-
side firms are subscribed to the platform.
“Tapping Liquidnet’s global resources will help us acceler-
ate innovation, insert this critical insight into the invest-
ment process at the earliest stage possible, and seamlessly
distribute it through the Liquidnet platform,” Jeremy
Davies, co-Founder of RSRCHXchange, added.
Sanders and Davies will continue to lead RSRCHXchange
and its day-to-day operations, working closely with the
Liquidnet team to develop the integrated service.
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8 // TheTrade // Summer 2019
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