PEOPLE MOVES NEWS UPDATE
Maddy Davies has joined BlackRock following almost two years as a trader within Liontrust Asset Management’ s multi-asset trading team. Davies was previously recognised as one of The TRADE’ s Rising Stars of Trading and Execution, 2024.
Nicholas Zerante has been appointed head of trading at Delta Global Management, based in New York. Zerante previously spent nearly eight and a half years at Viking Global Investors in a series of senior positions. Most recently, he served as head of international trading at the firm, based in London.
Alasdair Haynes, chief executive and founder of Aquis Exchange has stepped down from his role, and instead assumes the position of president. David Stevens, current COO of Aquis Exchange, took over as chief executive, while Richard Fisher will step into the joint role of CFO and COO.
Following almost ten years at ING bank, Stephane Malrait has joined Etrading Software as chair of its industry stakeholder group( ISG) on the consolidated tape( CT). He will be charged with ensuring user needs are fully represented in the CT and lead discussions within the ISG on functionalities, fee and licensing models and other tender process requirements.
TECHNOLOGY
Investec unveils new electronic trading platform
The platform – ZebrA-X – is designed to facilitate the efficient execution of block trades, The TRADE understands.
Investec Bank is set to launch a new electronic trading platform aimed at facilitating low-touch equity trading, as revealed by The TRADE.
Named ZebrA-X, the platform will help mid-market clients“ execute at scale with limited signalling”.
“ Over the past 18 months, we have observed significant changes in the medium-scale electronic agency landscape, particularly due to recent mergers and acquisitions within the industry,” Dominic Lowres, head of electronic trading and execution strategy, told The TRADE.
“ This dynamic environment has presented us with the opportunity to introduce an innovative offering that aligns with our clients’ evolving needs.”
Specifically, ZebrA-X includes a comprehensive suite of benchmark, liquidity-seeking algorithms, and is supported by a consultative Investec execution team.
“ The ZebrA-X dark algorithm, along with Zebra dark lit strategies, Zebra block and the wheel solution, as well as benchmark strategies, allow them to execute trades efficiently, with a large amount of configuration choices,” added Lowres.
“ We anticipate a diverse stream of unique flows into ZebrA-X which will benefit all types of clients who will benefit from deep mid-price resident liquidity. We believe this approach delivers long-term value to clients and will help enhance overall levels of execution quality.”
The platform is designed to facilitate the efficient execution of block trades and helps in reducing both pre- and post-trade signalling through the capability to internalise institutional and retail order flow.
Speaking to The TRADE about what the offering entails more specifically, Lowres explained:“ By pegging orders at mid-price for the duration of the trade, we effectively mitigate the risks associated with market signalling. Our strategic exchange memberships, along with our relationships with systematic internalisers and electronic liquidity providers, enable us to place orders directly across a diverse range of trading venues.
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