PEOPLE MOVES NEWS UPDATE
Ian Power has joined BTIG as managing director, head of EMEA outsourced trading after most recently serving as head of UBS’ Execution Hub, EMEA, appointed to the role just weeks prior to UBS’ decision to shutter its outsourcing service. Power left the business following its decision to exit.
Berenberg has appointed Nishad Vallonthaiel as head of liquidity solutions, joining from Peel Hunt, where he had served as head of electronic and program trading since 2023.
Morgan Stanley sales trading specialist Tracey O’ Shea left the firm after nearly three years to join buy-side firm MFS Investment Management’ s European equities trading team.
Legal & General Investment Management( LGIM) equity and foreign exchange trader Jamie Jones is set to leave the firm after nearly three years to join BNY’ s expanding outsourced trading refit. He had been based in London at LGIM.
Daniel Veiner has been named head of markets at BlackRock, overseeing trading, origination, corporate access and ETF markets at the firm. Veiner has been with BlackRock for 22 years, having most recently served as co-head of global trading.
Tony Nash has joined investment bank Cantor Fitzgerald as co-head of portfolio and electronic trading for EMEA from Stifel, where he served as managing director, electronic trading for more than six years.
Mark Molloy has joined Morgan Stanley Investment Management as a macro trader within the broad markets fixed income team, based in London. He most recently served as a senior trader at Nomura Asset Management.
POST-TRADE
SIX and Swiss Post-Trade Council issue T + 1 recommendations for Switzerland and Liechtenstein migration
A market consultation was opened ahead of an industry event hosted by SIX on 23 September 2025 to present the roadmap.
The Swiss Securities Post-Trade Council( swissSPTC) published its recommendations for the Swiss and Liechtenstein markets to ensure a successful adoption of a T + 1 settlement cycle. SIX, as the primary Financial Market Infrastructure( FMI), is participating in the specialised Task Force and has stated that it will integrate the swissSPTC’ s requirements into its own project. Switzerland and Liechtenstein will move to a T + 1 settlement cycle on 11 October 2027, in coordination with the EU and UK and in support of the key objective of a joint migration. The recommendations are the result of an extensive analysis carried out in 2025 with the participation of more than 20 entities from the Swiss and Liechtenstein financial ecosystem. The swissSPTC has undertaken a national initiative to guide the financial markets of Switzerland and Liechtenstein through the transition from the current T + 2 settlement cycle to the new T + 1 standard. This strategic change followed months of rigorous cross-financial sector analysis involving leading institutions from trading, clearing and settlement infrastructures, banks, issuers, and industry associations. Throughout the process, regulatory and supervisory authorities have been kept closely informed. The swissSPTC’ s work has been structured around six dedicated workstreams: operational processes, international alignment, liquidity management, legal and regulatory considerations, lessons learned from the North American transition, and stakeholder communication. The proposal framework covers all transferable securities executed on Swiss trading venues and settled within the Swiss central securities depository( CSD), SIX SIS. To assist the industry in preparing for the transition, the swissSPTC opened a market consultation until 10 October. In addition, the swissSPTC presented its recommendations, implementation plans and timeline at an event hosted by SIX on 23 September 2025.
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