The TRADE 60 | Page 8

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.