Independent outsourced buy-side equity trading platform, Outset Global, has expanded its global trading team with a string of several senior hires from Tourmaline Partners.  Among those joining Outset’s US team is Laurence Bag, who brings more than two decades of global equity trading experience to his new role, with a key focus on equity market structure and multi-cap strategies.  Previously in his career, Bag served as a partner at Tourmaline Partners for 16 years until his departure in August 2025, and has also worked as a trader at Greenwich Prime Trading Group.  Also appointed alongside Bag is Sean Riley, who will serve as a senior trader, working alongside Outset’s global equities and derivatives execution teams.  Prior to his time at Tourmaline, where he served until September 2025, Riley co-founded global hedge fund Glade Brook Capital Partners and has also held various head of trading positions at firms including Shumway Capital and GLG Partners, as well as senior roles at Credit Suisse and Prudential Securities.  In addition, Tim O’Halloran has been appointed to a senior leadership role out Outset, and is set to support the firm in accelerating its US expansion in his new position.  Commenting on his appointment, Raymond McCabe, chief executive of Outset Global, said: “Tim is a highly respected executive with more than 25 years of experience in capital markets and deep expertise in the outsourced trading sector.  “His proven track record in building and scaling successful businesses will be invaluable as we continue our growth trajectory.” O’Halloran previously worked at Tourmaline for more than eight years, departing in April 2025, and has also held the position of co-president of Westminster Research Associates, which he co-founded in 1993, as well as a vice president in worldwide equities at Lehman Brothers, where he worked for nearly 8 years.  Speaking to The TRADE on the new hires, O’Halloran said: “We continue to see increased demand for our services as asset managers evaluate their operating models and seek scalable, conflict free independent trading solutions. The senior hires strengthen our ability to support that demand and reflect Outset’s commitment to invest further in technology, market structure expertise, and client service. “We are confident that this announcement reinforces our credibility as a leading trading solutions firm.” The appointments also follow the recent hire of Jack Markham to Outset’s London team as a managing director, trader in January 2026, after more than a year at Cisu Capital Partners.  The post Outset Global continues expansion efforts with trio of Tourmaline recruits appeared first on The TRADE.

Etrading Software has submitted its tender application to be the EU OTC derivatives consolidated tape provider (CTP), through non-profit organisation, Transparent Markets Europe (TME). Matthijs GenesteESMA is expected to make a decision on the EU OTC derivatives CTP by early July 2026. The submission follows the launch of the European Securities and Markets Authority’s (ESMA) tender process for the tape on 5 January 2026, with interested parties able to register and submit participation requests until 11 February.  In addition to the tender submission, TME – which acts as a neutral, public-interest market utility dedicated to the tape’s delivery – has also unveiled its founding members who will support the tape initiative, including the German Investment Funds Association (BVI), the Derivatives Service Bureau (DSB), Etrading Software, PGGM, SIX Group and S&P Global.  By selecting a variety of institutional users, data vendors and market infrastructure operators, the members are expected to bring a wide range of perspectives to the development and delivery of the tape, explained the firm. Read more – Etrading Software confirms intention to bid for OTC derivatives consolidated tape Speaking to The TRADE, Sassan Danesh, chief executive of Etrading Software, said: “Transparent Markets Europe will provide a best-in-class governance model for this critical derivatives infrastructure. We are delighted with the level of industry support we have received.” Specifically, TME’s tender phase will be overseen by a temporary steering committee, spanning Etrading Software, PGGM, SIX Group and S&P Global, following which, if selected to be the CTP, the committee will become the board of TME, with representatives from BVI and DSB set to join at this later date.  “Submitting our tender application marks an important step towards delivering a consolidated tape that genuinely serves the needs of Europe’s OTC derivatives markets,” said Matthijs Geneste, chief executive-designate of Transparent Markets Europe.  “Our focus is on providing a high-quality, resilient and cost-effective service that enhances transparency, strengthens market confidence and aligns fully with ESMA’s objectives.” The delivery of a CT for OTC derivatives aims to address market fragmentation across various venues and APAs in Europe and enhance post-trade transparency for market participants. The post Etrading Software submits bid for EU OTC derivatives consolidated tape appeared first on The TRADE.

TP ICAP has launched an electronic alternative trading system for secondary market trading of US structured products, the first of its kind across the industry.  The new platform – Fusion Structured Products – will provide a centralised order book, real-time RFQs, available market prices and firm offerings for issuer banks, distributors, wholesales RIAs and broker-dealers, with the aim of addressing liquidity fragmentation across the markets. Robert Romano, head of structured products, Americas, said: “Fusion Structured Products enhances the secondary market by introducing an electronic trading environment, streamlining operations for the industry and enabling market participants to access new trading opportunities.  “This innovation aligns with broader market trends toward electronification and regulatory demands for transparency.”  Specifically, the offering is expected to support market participants in accessing market visibility, enhanced liquidity, anonymous execution and functionality within US structured products in the secondary market.  The news follows further significant moves for TP ICAP in recent months, and in January 2026, the firm announced that it had entered an agreement to acquire global brokerage, Vantage Capital Markets, to bolster its positioning in equity derivatives and fixed income markets, with a key focus on those in the APAC region.   Similarly, in June 2025, TP ICAP acquired Neptune Networks, in a bid to create a new dealer-to-client credit business.  The post TP ICAP unveils electronic ATS for US secondary market structured products trading appeared first on The TRADE.

Tradeweb has expanded its existing swaptions functionalities with the completion of the industry’s first fully electronic swaption termination.  Troy DixonThe new capability enables market participants to efficiently manage and reduce existing swaption positions, addressing a long-standing challenge within the bilateral derivatives market of positions needing to be terminated or novated to be removed from clients’ books before expiry.  Specifically, the inaugural transaction was carried out on Tradeweb’s swap execution facility (TW SEF), between Citadel and Wells Fargo, with OSTTRA’s MarkitWire platform routing the post-trade processing.  Troy Dixon, managing director, co-head of global markets at Tradeweb, said: “The completion of this transaction demonstrates how electronic innovation can simplify swaptions trading, enabling clients to streamline workflows, reduce gross notional exposure and consolidate large line items.” Read more – Fireside Friday with… Tradeweb’s Troy Dixon Moreover, a further capability has also been included in the enhancement, allowing clients to input a MarkitWire ID for an existing swaption directly into Tradeweb’s platform to then allow for the position to be matched to the offsetting transaction and notification of termination sent to MarkitWire.  The addition of the functionality is expected to reduce the risk of transcription and trade booking errors, and further increase post-trade confirmation speed.  John Niccolai, chief operating officer for global fixed income at Citadel, said: “We’re pleased to participate in the industry’s first swaption termination, a meaningful milestone that brings greater optionality and scalability to swaptions trading. This marks a tangible step forward in the modernisation of these markets, and we look forward to partnering with Tradeweb and other market participants on future innovations that simplify trading these instruments.” Tradeweb has made various enhancements to its swaps offering in recent months, and in January 2026, the firm launched a new multi-asset functionality, to enhance institutional trading of USD-denominated swaps.  The offering aims to enable the simultaneous execution of interest rate swaps, inflation swaps and government bonds, all bundled within a single trade.   The post Tradeweb completes industry’s first fully electronic swaption termination appeared first on The TRADE.

Kepler Cheuvreux has partnered with FactSet to integrate the broker’s aftermarket research (AMR) offering into FactSet’s platform. Kendra Brown.As part of the offering, Kepler Cheuvreux’s sell-side research will receive enhancements from FactSet’s proprietary generative AI tools, with AI integration anticipated in early 2026. Specifically, the integration will allow FactSet users will be able to interrogate, summarise, compare and contextualise research content within their workflows. Kendra Brown, senior vice president and senior director of banking and sell-side research at FactSet, said: “This partnership deepens our European equity coverage through the largest independent research footprint in Europe, strengthening FactSet’s position as a leading research platform.  “Kepler Cheuvreux’s AMR offering via FactSet reinforces our strategy of moving content beyond static documents and passive distribution to become dynamic intelligence.” Specifically, the integration will allow FactSet users will be able to interrogate, summarise, compare and contextualise research content within their workflows. Read more: FactSet integrates MarketAxess CP+ data into Workstation platform Mathieu Labille, deputy head of equity brokerage at Kepler Cheuvreux, said: “We are delighted about this collaboration, which combines Kepler Cheuvreux’s leading research with FactSet’s GenAI capabilities and offers an alternative way to access our research.” Moreover, the addition will complement FactSet’s existing AMR offering, which includes research from more than 1,800 brokers globally, including JP Morgan, Barclays, UBS, Macquarie, Canaccord Genuity, RBC, Deutsche Bank, HSBC, Wells Fargo. The post Kepler Cheuvreux to integrate aftermarket research offering into FactSet’s platform appeared first on The TRADE.

The answer to the question of what makes for ‘good liquidity’ is not a straightforward one. Nevertheless, assessing the diverse perspective on the topic is not just useful, but essential, agreed experts speaking at the TradeTechFX conference on Tuesday. One panellist highlighted that “really unique liquidity that you can only get in one place” is advantageous and another added that in his opinion the characteristics of good liquidity are “market makers who are present and do client to client type of matching well”. From the buy-side perspective, Tom Gentile, director of trading, Crabel Capital Management, cited the answer as “consistency and predictability”, while Nick Bonamo, head of trading at systematic macro fund Kepos Capital, added that for him the ideal description is “consistency but at low cost and low impact”. Read more: Uninterrupted liquidity in FX top of the buy-side market structure wishlist Tapping into the diversity of the responses, Drew Niv, chief strategy officer at ATFX, highlighted the fact that the priorities for individuals and firms very much depend on the context at hand – in particular when it comes to the foreign exchange sphere. He explained: “Different things matter more to different people. If you’re trading major currencies, then cost and slippage matter a lot more. If you’re trading emerging market currencies, then market impact matters 10 times more than those things.” Ultimately however, the conversation of course boils down to getting the best liquidity – whatever that may be. Avoiding potholes When it comes to the empirical side of the coin, more than ever, the buy-side is getting into the weeds of the decisions behind liquidity provision, highlighted Blaise Sheppard, head of FX at OneChronos. “Having that collaborative discussion with banks is happening more and more. Questions like ‘what are you doing for venue selection?’, ‘How are you rounding this trade?’, ‘What’s going into the construction of how you execute?’. That wasn’t as much of a conversation a few years ago, and it’s becoming much more frontline for everybody as opposed to just the ones that are living and breathing it all day, every day.” Speaking to the reasons behind this shift, Sheppard explained that it’s a macro shift – with more availability of data and more electronic venues making it easier than ever to achieve transparency. Similarly, Bonamo further asserted the benefits of the increased presence of analytics, particularly when it comes to avoiding potholes. “Some of the best insights that we’ve had that have improved our execution over time have not come from finding a path toward perfect execution, but rather in doing all this hard work with the data and analytics and finding the mistakes pitfalls. “[…] Avoiding mistakes is sort of priority number one – like not hitting the worst pothole on a highway. You don’t have to be a perfect driver, but if you just don’t damage your car, that’s a really good start – analytics can point you in that direction.” The post Liquidity is in the eye of the beholder appeared first on The TRADE.

Eurex Clearing has appointed Laura Bayley as its new chief executive, effective 1 June 2026. Bayley joins from SIX Group, where she has served as head of clearing services and chief executive of Swiss central counterparty SIX x-clear AG since 2022. With a background spanning regulatory strategy, legal leadership and major integration projects at SIX x-clear and BME Clearing, Bayley brings extensive experience across financial market infrastructures to her new position Speaking on her appointment, Bayley said: “I am deeply honoured and grateful for the opportunity to lead Eurex Clearing, an organisation that stands at the heart of the financial markets. Together with the Eurex team, clients and partners, I am looking forward to further strengthening the future of clearing through resilient, high-quality infrastructure.” Read more: Interoperability not consolidation is the path for European post-trade Over the course of her career, she has played a key role in implementing European regulatory frameworks, including CSDR, and led regulatory relicensing initiatives under Swiss and EU regimes, working closely with authorities including FINMA and ESMA. Robbert Booij, head of financial derivatives and chief executive of Eurex, said: “I am delighted to welcome [Bayley] to our Deutsche Börse Group team as the new chief executive of Eurex Clearing. Her forward-looking vision for shaping the future of clearing through innovation and her proven ability in leading transformation will be invaluable to steer Eurex Clearing into the future.” The post Eurex Clearing taps SIX for new chief executive appeared first on The TRADE.

CME Group has announced plans to launch financially settled single stock futures for more than 50 major US stocks.  The new products will be available at the beginning of summer 2026, pending completion of all regulatory review and processes, and are expected to provide market participants with greater flexibility, capital efficiency and exposure to top US stocks.  Specifically, the new contracts include stocks from the S&P 500, Nasdaq-100 and Russell 1000 indices, spanning names such as Alphabet, Meta, NVIDIA and Tesla.  “We are pleased to begin offering investors an alternative way to gain exposure to individual leading US stocks with our new single stock futures contracts,” said Tim McCourt, global head of equities, FX and alternative products at CME Group.  “These contracts will provide a simpler, more cost-effective way to take a view on a stock, while allowing market participants to gain exposure to, or hedge potential price movements, without buying shares outright.” Read more – SGX FX and CME Group’s Spot FX venues to integrate In addition, the offering aligns with an increasing demand for equity derivatives among institutional investors, particularly over the course of the past year.  Moreover, the launch also marks a further futures-related development for CME Group in recent months.  In January 2026, the firm expanded its digital asset derivatives suite with the launch of futures contracts linked to Cardano, Chainlink and Stellar.  Cardano futures will be offered in contract sizes of 100,000 ADA and 10,000 ADA, Chainlink futures at 5,000 LINK and 250 LINK, and Stellar futures at 250,000 and 12,500 lumens.  The post CME Group to launch single stock futures for top US stocks appeared first on The TRADE.

Goldman Sachs has joined Finteum’s intraday liquidity management platform and completed its first series of intraday FX swap trades, as weekly volumes on the platform reached $1 billion. Goldman Sachs is joining existing participants NatWest Group and UBS, both of which continue to scale their use of intraday FX swaps to manage liquidity requirements across core currencies. The emergence of an intraday FX swaps market is intended to provide banks with an additional mechanism to manage short-term liquidity needs as settlement cycles shorten and payment flows move closer to real time. Specifically, Finteum’s platform allows banks to borrow and lend cash intraday using FX swap transactions executed on the TP ICAP UK MTF. Read more – Goldman Sachs’ SIGMA X MTF set to offer zero-fee trading of periodic auction and non-displayed books Goldman Sachs’ initial activity included the largest intraday FX swap trade completed on the platform to date, according to Finteum, highlighting anincreasing focus among large global banks on intraday liquidity management. Carey Halio, global treasurer of Goldman Sachs, said: “Intraday FX swaps are a powerful new tool to help Goldman Sachs efficiently manage our liquidity needs. We are pleased to work with Finteum to advance this market, leveraging distributed ledger technology to execute transactions and move cash in near real time, at scale.” Regulatory attention on intraday liquidity has increased following the publication of the European Central Bank’s sound practices for intraday liquidity management in November 2024.  The post Goldman Sachs joins Finteum intraday liquidity management platform appeared first on The TRADE.

The latest structural developments in FX markets are having a real effect on both execution and operations, agreed experts speaking at TradeTechFX US, with market structure change demonstrably impacting the entire trading lifecycle, from pre- to post-trade. Yan Pu, global head of foreign exchange at Vanguard, explained that among this, one of the key priorities from the buy-side perspective is the pursuit of uninterrupted liquidity. “A lot of time we focus on the trade which is the pricing discovery, so what we want is transparency in the pricing discovery mechanism and at the same time to also have abundant liquidity providers to come in to provide the liquidity – and ideally that is uninterrupted liquidity,” she said. The importance of avoiding gaps, Pu explained, is paramount, with gap risk a principal factor and the pursuit of liquidity uninterrupted in different time zones, across different countries front of mind. “We already see that more and more liquidity providers come in with the traditional dealers and non-bank financial institutions and with the formation of the ECN and with a lot of algos then we are able to achieve the liquidity that we want and a compressed spread in the spot market. So this is a big win for the buy-side firms and then for asset managers. Furthermore, when it comes to the swaps market this was also highlighted as an area where future innovation would be welcomed, added Pu. “A large part of our trading volume is on swaps and the swap need is increasing […] in the forward market there is not a streaming service being provided yet, and even when we’re talking about the forwards reference rate, it’s not necessarily transparent and readily available out there. So that’s something that we would love to see in the future.” Equal footing Conversation, inevitably, also turned to the importance and relevance of the FX Global Code, with panellists agreeing on the continuing importance of industry collaboration in facilitating market development, particularly in light of the potential for extreme market volatility in the future. Anna Nordstrom, head of markets group, Federal Reserve Bank of New York, explained that a fair market is one which is effective and efficient for everybody that participates, adding that transparency is important for all to feel they are on equal footing. “What is really important for us is that the code is taken up across the industry. We have been quite successful in working with – and promoting in – the traditional bank dealer space. But, on the buy-side, as it’s so diverse and there are such different types of participants. We are working hard to promote uptake among asset managers, corporates and hedge funds. “The code is only as successful as the number of participants that follow the code.” Read more: FX Global Code revisions get green light from participants Jeremy Smart, head of sales, XTX Markets, echoed this sentiment, further iterating the significance of the code in retaining the invaluable benefit of remaining a self-regulated market. “The reality is there are trading groups at firms that have not signed the code as of yet […] The price of self-regulation is incredible and the risk to losing that is really just a price not worth paying.” He added: “It’s just so important that the code is successful and adapts for the future because it’s going to get way more complicated. The next real major crisis, is going to be the one that tips us over the edge into being fully regulated, so it’s a prize not worth giving away.” The post Uninterrupted liquidity in FX top of the buy-side market structure wishlist appeared first on The TRADE.

Bernstein has named Chloé Bonnaffoux as an equity sales trader, based out of Paris.  Bonnaffoux joins the firm’s Nordic and Dutch cash equity sales trading desk, with her appointment expected to expand Bernstein’s EEA client‑facing capabilities in Paris, as well as reinforce the firm’s Continental and Dutch platform.  In addition, Bonnaffoux’s addition is also set to strengthen the firm’s quantitative and electronic trading capabilities.  Speaking in an announcement on social media, Francois Gour, head of cash equity trading for Continental Europe at Bernstein, said: “Excited to welcome Chloé to our Nordic and Dutch cash equity sales trading team!  “Her energy is already bringing great momentum to the desk. Looking forward to achieving new successes together and continuing to strengthen our franchise in the region.” Read more – Bernstein unveils ETF execution algorithm Bonnaffoux joins the firm after working as a country and sovereign risk analyst at Societe Generale, where she has also covered derivatives during an internship at the firm.  In April 2024, AllianceBernstein and Societe Generale launched Bernstein as a joint venture, with the objective of providing a global cash equities and equity research-focused offering.  The firm provides provide institutional investors, corporates and financial institutions with investment insights into North American, European and Asia Pacific equity markets, alongside liquidity access and global trading technology.  Moreover, Bernstein has also further expanded its Paris-based team in recent months, and in January 2026, Amaury de Miguel joined the firm’s cash equity execution team as an electronic sales trader.  The post Bernstein appoints ex-Societe Generale analyst as equity sales trader appeared first on The TRADE.

Vito Scarola has joined Kepler Cheuvreux’s KCx team as a high touch sales trader.  Based out of New York, Scarola will report to Oliver Mudie, head of sales trading, US client zone, KCx, and is set to support the firm’s continued development of its execution strategy. Speaking to The TRADE, Chris McConville, global head of execution services and trading at Kepler Cheuvreux, said: “We’re delighted to welcome Scarola to the firm. Based in our New York office, he’ll play a key role in supporting our US and Canadian clients and in accelerating the next phase of our growth in the region. “Reporting to Oliver Mudie in London, Scarola will work in our high touch offering and brings almost 30 years of experience, underscoring the importance of the US to our broader KCx strategy.”  Currently, the KCx team spans 14 financial hubs across the Europe and US, including offices in Amsterdam, Brussels, Dubai, London, Madrid, New York and Paris. Scarola brings extensive trading experience to his new role, and joins the firm from US investment bank Stifel, where he spent nearly three years as a trader covering European equities.  Read more – Kepler Cheuvreux launches institutional-focused ETF platform Prior to this, he held various institutional sales trading positions at firms including Carnegie Investment Bank, Handelsbanken and Societe Generale.  Scarola has also served as an equity trader at Solstice Equity Management and Willowbridge Associates.  Earlier in his career, he spent six years as a proprietary trader at Spear, Leeds and Kellogg.  Scarola’s appointment also aligns with further high touch sales trading hires for Kepler Cheuvreux over the past year. In June 2025, Sam Dawson joined the firm to help build out the UK hedge funds business, based out of London.  The post Kepler Cheuvreux taps Stifel for high touch sales trader appeared first on The TRADE.

LMAX Group has launched Omnia Exchange, a new infrastructure layer designed to allow institutions to exchange any asset, anytime and anywhere, through a single API. By utilising LMAX Group’s existing trading technology and liquidity, Omnia will connect FX, crypto, stablecoins and other digital assets on a single platform.  Specifically, the exchange is designed to provide unified access to wholesale liquidity and pricing, enabling users to move and settle value across borders and asset classes on a 24/7 basis. The new offering will also allow users to trade any asset directly against any other without restrictions on size or asset type, access competitive real-time pricing, and settle either via traditional market infrastructure or instantly on the blockchain, through a combined blockchain-based order entry and centralised exchange execution model. David Mercer, chief executive of LMAX Group, said: “Omnia Exchange is the foundation for a new paradigm in capital markets delivering the ability for institutions to exchange any asset, anytime, anywhere. By opening access to wholesale FX and digital asset markets globally, we’re removing barriers, reducing friction and unlocking liquidity.” Read more – LMAX and Ripple enter multi-year partnership to drive institutional digital asset adoption In addition, the exchange is expected to address trading and payment challenges faced by firms by embedding instant settlement and institutional-grade liquidity into existing ecosystems to reduce transaction costs, unlock trapped capital and enable new revenue models. The post LMAX Group launches Omnia Exchange to link FX and digital assets via single API appeared first on The TRADE.

SGX FX is set to combine its global liquidity and buy-side client base with CME Group’s EBS Market and FX Spot+ platform – which launched in April 2025. Jean-Philippe MaleThe move is aimed at meeting the growing demand for increasingly connected and interoperable execution.Speaking to The TRADE, Vinay Trivedi, chief operating officer, SGX FX, explained: “By partnering with CME FX (EBS), we are enabling our sell‑side banks to leverage EBS’s eFIX service for superior benchmark order‑flow risk management.“Integrated within our innovative, fully automated benchmark order‑flow workflow, this collaboration allows banks to capture more fixing flows, deliver best execution to buyside clients, access comprehensive analytics and a complete audit trail, and minimise undue risk – all within a single, seamless SGX FX platform.” Specifically, the single, integrated workflow will be delivered via the BidFX and MaxxTrader platforms. Users on both venues “will gain mutual streamlined access and liquidity from SGX FX, EBS Market, FX Spot+ and EBS non-deliverable forwards (NDFs) and spot precious metals,” confirmed the firms. Read more: CME to launch new all-to-all spot FX marketplace Jean-Philippe Male, chief executive, SGX FX, asserted in an announcement that the partnership reflects a real, growing demand from its clients for greater connectivity across leading FX venues. “By linking SGX FX’s global liquidity and buy-side network with EBS’s primary markets, we are expanding choice, improving execution outcomes and reinforcing our role as a core hub in the global FX ecosystem,” he added. SGX FX clients are set to benefit from deepened liquidity choice and execution optionality across key FX products through the integration, also supported by firm, primary pricing and modern execution interfaces. In tandem, CME Group participants will gain access to SGX FX’s global buy-side community. Through the move, the two businesses will provide improved price discovery, enhanced execution flexibility and reduced market fragmentation, as well as advanced execution capabilities, and high-performance trading interfaces.Paul Houston, global head of FX, CME Group, said: “Integrating with SGX FX allows us to extend the reach of EBS liquidity and Spot+ into a highly active global client base.“Aligning our FX spot, NDF and spot precious metals markets with SGX FX’s workflows supports more efficient execution and strengthens the connectivity between major FX liquidity pools – all for the benefit of our mutual customers.” Looking ahead, the firms have asserted that the partnership also serves as a key base for future connectivity between SGX FX and CME Group.The post SGX FX and CME Group’s Spot FX venues to integrate appeared first on The TRADE.

Global investment bank, Cantor – part of the Cantor Fitzgerald – has joined the 24X National Exchange as a member firm in a bid to broaden its existing electronic trading offering.Pascal BandelierAccording to Cantor, the move will provide clients with “additional choice, flexibility, and efficiency in how they access markets”.The US Securities and Exchange Commission (SEC) approved 24X as the first round-the-clock exchange back in November 2024. A year later, in October 2025, 24X went live with its 16/5 US equities trading plans for both institutional and retail investors.The offering provides access for investors worldwide via broker-dealers which are members of the SEC-listed exchange.Read more: SEC approves first round-the-clock exchange“Cantor is focused on staying at the forefront of market access and execution for our clients,” said Pascal Bandelier, Co-chief executive and global head of Equities, Cantor.“Joining the 24X National Exchange strengthens our electronic trading capabilities and further supports our clients, positioning us to provide best execution and liquidity.”Since Q1 2024, Cantor has onboarded a variety of trading platforms, including: Blue Ocean, Bruce Markets, and Moon ATS.According to the bank, the decisions closely align with its strategy to provide clients best execution through scalable and technology-driven solutions. Speaking to The TRADE back in June 2025 about the motivations behind the 24X launch, Dmitri Galinov, founder and chief executive, explained that the plan came together due to emerging market’s interesting in investing in American companies.“At the time, the New York Stock Exchange or NASDAQ didn’t really have any plan to address after hours trading, so that was the gap. Even though crypto and foreign exchange trade 24 hours, the exchanges didn’t seem to offer a service in the same vein, so that’s when we said okay there is definitely a need for foreign investors to access US markets in real time, let’s make it happen.”The post Cantor joins 24X trading venue as member firm appeared first on The TRADE.

ING ING has appointed Alexander Critien as global head of FM rates and nonlinear trading.  The newly created role will see Critien lead ING’s global FM rates and nonlinear trading platform, working closely with regional trading teams, technology partners, quantitative functions and other key stakeholders.  Based out of London, Critien is set to report to Niall Carton, global head of FM trading. Critien brings nearly two decades of experience in rates options trading to his new role and joins ING after having spent his entire career at JPMorgan based out of London and Paris.   He joined JP Morgan in 2006 as an analyst and progressed through the ranks to managing director, most recently serving as head of EMEA rates options trading, where he was desk head and risk owner for the business.  Critien holds strong expertise infront office technology, quantitative tooling within rates options, and has also worked extensively in volatility products across currencies, including EUR, GBP and CHF.  Cantor Fitzgerald Cantor Fitzgerald has expanded its fixed income trading team with the addition of Christine Belliard.   Belliard joins the investment bank as a fixed income trader, having previously spent more than a year in a similar role at JonesTrading.   Prior to this, she also held a 15-year tenure at Bank of America as a vice president, having initially joined the firm in 2009.Panmure Liberum Emma Horner has joined Panmure Liberum as vice president, sales trader.   London-based Horner joins the UK investment bank after spending two years in a similar role at Rothschild & Co Redburn.   While at the firm, she worked as part of the US high-touch trading team, with a key focus of US equities trading for institutional investors.   Prior to this, she also gained early career experience at Ebury, working across fintech, FX trading and trade finance.Barclays Barclays has appointed Chetan Vohra as global head of securitised products, based out of New York.   In his new role, Vohra is set to lead the securitised products business for the firm, and will report to Adeel Khan, head of global markets.   His addition to Barclays is expected to bolster the firm’s securitised products platform, and strengthen cross-asset connectivity, as well as engagement across origination, financing and trading.   Vohra has worked across capital markets for more than two decades, and brings extensive securitised products experience to his position at Barclays.   He joins from American alternative investment firm, Cerberus Capital Management, where he served as a senior managing director and portfolio manager, working across residential and asset backed loan trading, origination, finance, private credit, SFR debt and equity.   Prior to this, he had worked at Citi for 19 years, in various different roles spanning fixed income, MBS trading, and securitised products, with oversight across agency, non-agency and mortgage banking.   Garner had previously spent 14 years at Credit Suisse, most recently as co-head of securitised products trading.Rothschild & CoLuke Hedley is joining Rothschild & Co as an equity sales trader, after more than four years at Investec.   London-based Hedley has worked across equities sales trading for more than 13 years, covering both long only and hedge funds.   He joins Rothschild & Co after serving in the same position at Investec, and prior to this, also spent a decade at Numis Securities as a sales trader.The post People Moves Monday: ING, Cantor Fitzgerald, Panmure Liberum and more… appeared first on The TRADE.

Deutsche Bank has integrated its FX-as-a-service technology platform – HausFX – with BlackRock’s Aladdin in a bid to streamline foreign exchange workflows. The move allows mutual clients direct access to the bank’s FX-as-a-Service capabilities and covers developed, emerging and restricted market currencies, embedding operational logic across the full trade lifecycle. Panos Stergiou, global head of institutional client group at Deutsche Bank, explained: “This integration is demonstrative of the shared vision that exists between BlackRock’s Aladdin and Deutsche Bank to bring clients operational efficiency and performance through some of the best in tech.  “The integration of the Aladdin platform and HausFX will help institutions unlock real operational value, seamlessly and at scale.” Read more: BlackRock and AWS partner to bring Aladdin onto its cloud The integration addresses long-standing inefficiencies in managing FX linked to cross-border securities activity. Kamya Somasundaram, global head of Aladdin enterprise partnerships at BlackRock, added: “Integrating Deutsche Bank’s HausFX capabilities with the Aladdin platform will give our common clients access to a powerful, automated solution to manage FX seamlessly as part of their end-to-end investment workflow.” The post Deutsche Bank integrates FXaaS platform with BlackRock Aladdin appeared first on The TRADE.

FlexTrade Systems has integrated CME Group’s EBS Market central limit order book (CLOB) and FX Spot+ platform into its FlexFX execution management system, giving clients direct access to the venues from within existing workflows. The integration connects FlexFX users to CME Group’s spot FX liquidity via FX Spot+, alongside EBS Market’s anonymous all-to-all CLOB.EBS Market operates on firm pricing with no last-look and is used by both buy-side firms seeking FX liquidity and banks managing FX risk.Paul Houston, global head of FX products at CME Group, said: “Through FlexTrade’s interfaces, mutual clients can now more easily interact with the firm pricing on our anonymous EBS Markets spot and NDF liquidity, as well as FX Spot+ which allows spot traders to access the futures ecosystem and the FX futures liquidity in spot format.”Specifically, FX Spot+ enables spot FX traders to access CME Group’s FX futures liquidity in a spot format, combining futures and spot liquidity within a single execution workflow. Firms that are clients of both FlexTrade and CME Group can incorporate EBS Market and FX Spot+ into FlexFX without changing their core trading setup.  The new execution sources can be used alongside FlexFX’s existing automation and routing tools, including FlexAlgoWheel, allowing users to route orders across a wider range of liquidity pools.Uday Chebrolu, SVP of FX and digital assets at FlexTrade Systems, added: “New innovations and partnerships drive demand to bring more FX liquidity into the EMS to further optimise electronic trading.  “This data, in turn, produces continuous improvements in trading performance, efficiency, and speed. In this way, integrating CME Group’s solutions into our platform helps FlexFX clients maximise their use of multi-asset offerings to gain even greater trading efficiencies.” The post FlexTrade adds CME Group FX Spot+ and EBS Market access to FlexFX  appeared first on The TRADE.

The TRADE is excited to present the digital edition of The TradeTech FX US Daily 2026, the official magazine to accompany TradeTech FX US, offering you 32 pages of news and tailored content to guide you through the event. This year’s TradeTech FX US Daily unpacks the hottest, most timely topics shaping the FX markets including a deep dive into the state of play of the European shift to T+1 and an in-depth examination of how hedge funds are increasingly pushing FX into the algo age.  The magazine also includes a wealth of exclusive interviews with buy-side speakers from firms including T. Rowe Price, RBC Global Asset Management, iA Global Asset Management, Russell Investments and MFS Investment Management, as well as the latest news and people moves, and the official accompanying event agenda. The magazine is available in print format at the event and can be located across the conference and at registration stands.  The TRADE team is also on the ground at the event so make sure to come and say hello to our news editor Claudia, who will be reporting live from Miami!  View The TradeTech FX US Daily here.  The post The TRADETechFX US Daily launches in Miami as your official guide to the event! appeared first on The TRADE.

Broadridge is set to acquire technology provider CQG, as part of an effort to expand Broadridge’s execution management offering and bolster global futures and options trading capabilities through the creation of a unified platform.  Ryan MoroneyThrough the acquisition, CQG will provide complementary execution management, algorithmic trading and analytics tools to Broadridge’s order management and client connectivity solutions.  Specifically, the deal is expected to create an end-to-end trading suite tailored for global futures and options markets, and aligns with Broadridge’s goal to deliver connected multi-asset trading solutions across the world.  The merger is expected to close in Q4 2026, subject to regulatory approvals. Speaking on the announcement, Frank Troise, president of Broadridge’s trading and connectivity solutions business, said: “Integrating CQG’s advanced execution management, analytics, and connectivity technologies with Broadridge’s leading order management and connectivity solutions will create a unified platform in futures and options that simplifies trading complexity, improves transparency and workflow efficiency, and enhances Broadridge’s digital asset trading capabilities.” Read more – JP Morgan derivatives expert joins Broadridge as global head of futures and options trading In addition, by expanding its futures and options offering, Broadridge is set to continually support clients’ needs and growth objectives, spanning FCMs, institutional investors, retail brokers, proprietary trading firms, CTAs, and hedge funds. “We are truly excited to combine CQG’s nimble approach and powerful front-office execution management, analytics and connectivity solutions with Broadridge’s deep global reach and front-to-back capabilities,” said Ryan Moroney, chief executive of CQG.  “The trading experience of our collective clients will be defined by speed, intelligence, and scale, enabling them to trade smarter, access new markets, and adapt faster in an increasingly dynamic marketplace.” Read more – Broadridge invests in agentic AI tech fintech to drive post-trade automation  The move will also include the acquisition of CQG’s core global trading technology business. The post Broadridge to expand global futures and options trading offering with CQG acquisition appeared first on The TRADE.