PEOPLE MOVES
NEWS UPDATE
FIXED INCOME
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.
8 // TheTrade // Summer 2019
MarketAxess lifts the lid on
Portfolio Trading solution
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.