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      Trading Technologies Leverages Scale to Boost Post Trade

      Editorial Staff
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      Trading Technologies Leverages Scale to Boost Post Trade

      Post trade has historically run behind in processes and technology compared with the pre-trade and execution segments of the trade lifecycle, but the gap is narrowing amid increased clearing volumes, expanded regulatory mandates, and a higher bar for best practices. 

      Clearing houses and providers of clearing, settlement, custody, and other post-trade services are refining their product offerings and moving into new asset classes to better meet the risk management needs of trading clients, whose back offices are aligning more closely with front and middle offices.  

      Traders Magazine caught up with Alun Green, EVP and Managing Director, Futures and Options at Trading Technologies, to learn more about industry trends in the clearing space and how TT is evolving its post-trade business. 

      What is the history and recent evolution of TT’s clearing offering?

      Alun Green, Trading Technologies
      Alun Green, Trading Technologies

      We started with the acquisition of ATEO in February 2024. So we’ve only been firmly in the post-trade business for about 18 months. 

      Through the ATEO acquisition, TT now has two products in the post-trade and clearing space. One is TEO, a post-execution allocation and confirmation product, and the second product is TT Clearing, a matching and clearing product connected to clearing houses. So for all listed derivatives markets, this helps handle all the activity that needs to happen on trade dates after a trade has been executed.

      What was TT’s plan in buying ATEO? 

      There are a couple of things at work here.

      First, the ATEO products are extremely good products. But ATEO was quite a small company, so their ability to contract with large global banks, for example, was limited just because of the size of their organization.

      So part of our intent was simply to take advantage of TT’s larger size and relationships. This has played out, as we are leveraging wider TT relationships and we are now able to offer our clearing services in the TT cloud through our managed service offering    

      The second aspect to the ATEO acquisition is from a technical perspective. Historically, there has been quite a divide between the front office trading and execution, and the middle and back office with the clearing activity. For a long period of time, there have been two separate worlds that talk to each other, but haven’t fully integrated. We believe that as things change with technological innovations in the coming five to ten years, we’re going to see those barriers dissolve.

      This has already begun, as banks and brokers are starting to look at the front office and the middle office as being part of one holistic whole supporting the trade. So at TT we wanted to have our software and our technical tools do the same thing, and be much more interlinked between front office execution and middle office clearing.

      The third aspect is to build a fully integrated front-to-back service that empowers us to anticipate our clients’ needs, deliver innovative solutions, and create lasting value through a seamless and consistent experience.

      What are other broader clearing trends that are relevant for TT?

      In general, people need to get away from inefficiencies in clearing, because anything that fails an automated process requires manual intervention on trade date and adds risk.

      For example, for a trade that goes to the wrong account or even the wrong broker, if that’s not resolved on trade date, that brings in a lot of risk to an execution organization or a clearing organization.

      Historically those problems have been solved by teams of experienced middle office people who look for those discrepancies and solve those on trade date, and indeed there are some extremely good people who do that for banks and brokers globally. But, that is quite manually intensive, as even if you’re looking at automated straight through rates of 95% or 96%, that’s still a large number of trades that need manual intervention.

      So the entire industry is looking for ways to avoid those manual touches, and streamline the processes that are in place to make that a bit more robust.

      The US shortened its settlement to T+1 last year, and the EU and UK are working toward that.

      Moreover, many of our clients are now asking us to extend our middle office capabilities to other asset classes, which is an area we are currently working on.

      What are the implications for TT’s post-trade and clearing business?

      As you look across different asset classes – from securities, to listed, to OTC products – you’re seeing moves to T+1 plus settlement, top day settlement, and even continuous 24-hour settlement.

      We’re not necessarily pushing or driving in any direction, but what we are doing is ensuring that our platform is built in such a way that you can do real-time continuous settlement if that’s where the market goes. The need for very quick settlement is becoming increasingly important, so we need to have that capability.

      As clearing can be considered a commodity product, how does TT differentiate its offering? 

      The technical software for clearing is quite commoditized.

      But beyond that, what can be differentiating for a clearing provider is scale. Most firms are looking for a true global provider that can stay up to date with all the changes that are happening. If you think about the listed derivatives market, if we’re going to be supporting the clearinghouses, we need to support all clearing houses globally. That means you need not just technical teams, but business teams that can liaise with clearing houses, whether it be in Chicago, New York, London, Paris, Seoul, Singapore, Tokyo, or Sydney.

      I think the big benefit that we bring is that we have those teams. We understand the new contracts that are coming out, and the specs of the technical upgrades.

      So while we believe we have best-of-breed functionality, the benefit is not necessarily differentiating in terms of functionality. Rather it’s about helping firms keep up with the complexity and the cost of clearing on markets globally.

      What are the future plans for TT in the clearing space?

      It’s all about creating better links between the middle office and the front office. This is where we can differentiate and be better. 

      Say a trader today is sitting on an execution screen. They click on the order and see the order was filled at a certain price. Historically, that was the end of the story for the trader.

      But now it’s not really the end. If a trader has been filled on a particular order, they need to know which end accounts they need that order to go to, and in some cases they’re going to be passed off to different clearing brokers as well. You might have one order that ends up as four different trades, with two different brokers in four different accounts.

      Seeing the progress of that throughout the day has historically been tracked in the middle office. But now we’re trying to have the trader see their fill as a starting point. They can then see that the allocation for that trade has been processed, it has been split into four child clearing trades, two have been accepted by the clearing broker and they are good in the final account.

      Beyond facilitating internal workflows, we also want to leverage our existing execution platform to create a post-trade confirmation network for the broader financial institutions ecosystem.

      So being able to follow through on the post-execution workflows and trade dates is something we are looking to bring in over the next 12 to 18 months. That’s probably our biggest current initiative.

      Millions of Dollars and Years of Effort: Exegy Quantifies the True Cost of Building Market Data Infrastructure In-House 

      Press Release
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      Millions of Dollars and Years of Effort: Exegy Quantifies the True Cost of Building Market Data Infrastructure In-House 

      New whitepaper series details the full costs of building and maintaining real-time market data infrastructure

      New York, London, Paris, St. Louis – September 24th, 2025 – Exegy, a leading provider of market data, trading technology and managed services for the capital markets, today launched a new whitepaper series quantifying the true cost of real-time market data infrastructure. Drawing on benchmarks from current and former executives at Tier 1 banks and hedge funds within their elite client community, Exegy details the full costs, time-to-market, and staffing required to build and maintain systems to process and distribute real-time market data from direct exchange feeds.  

      Part 1 focuses on software-based implementations and reveals that building and maintaining in-house systems is significantly more expensive, slower, and more burdensome than leveraging vendor-managed solutions.

      Key Findings:

      • Cost to Build: Developing a single software feed handler and supporting infrastructure in-house can cost up to ~$1.8M. Full US equities coverage (20 markets) exceeds $4.7M, more than 8x the cost of Exegy’s software solution
      • Time to Market: In-house teams take ~3.5 years to achieve necessary market coverage, compared to just 4 to 6 months for integration and deployment with Exegy – a 7x reduction in time to market
      • Maintenance cost: Annual in-house software maintenance costs exceed $3.5M, while Exegy’s fully managed solution reduces these recurring expenses by more than 2.5x

      Firms often struggle to gain a comprehensive view of the total build and maintenance costs of these complex systems, as they are often obscured by divisions of staff and budget within large, sophisticated trading firms. This impairs their ability to make decisions on how to value expert partners, where to engage with them, and further prevents them from liberating resources to focus on projects that can deliver differentiated performance for their businesses.

      “We initiated our rigorous analysis to better understand and communicate our value. The data greatly enhances our ability to serve as a trusted partner to our clients and engage in meaningful conversations about optimizing the performance and cost structure of their businesses,” said David Taylor, CEO of Exegy. “For example, the finding of lower maintenance costs debunks the commonly held view that firms will reap savings over time after investing in an expensive and time-consuming build effort. It provides quantitative support for partnering with us to get to market faster and to focus their time and resources on proprietary innovation.”

      Taylor added, “It was also past time for the industry to move beyond hand waving about ‘build versus buy’ to real conversations with real numbers.”

      Part 1 is available now at exegy.com. Part 2, which focuses on FPGA-based infrastructure, will follow later in 2025. Key findings will also be presented at Exegy’s upcoming Client Summit in New York on October 1.

      AI, Machine Learning Will Drive Market Data Consumption

      Press Release
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      AI, Machine Learning Will Drive Market Data Consumption

      The majority (80%) of asset managers now view artificial intelligence (AI) and machine learning (ML) as a key driver of market data delivery and consumption over the next two years, according to new research by SIX, the global financial information provider, and Crisil Coalition Greenwich.

      The annual research report – conducted from June to July 2025 – spans US, UK and European respondents at asset managers, wealth managers, and private banks in majority front and middle-office roles.  Now in its third year, the Market Data Study seeks to better understand the trends and challenges of consuming market data.

      The findings show real-time data use is expanding, with 65% of respondents using it throughout the trading day. This surge in interest can be attributed to the rise in 24/7 trading in certain asset classes. However, the uptick in real-time data also suggests use in a wider range of functions, namely in risk, compliance, and portfolio analytics.

      Overall spend on market data is projected to rise, a trend also captured in 2023 and 2024. Almost 70% of participants expect an increase in budget spending of 1% to 5%. Index data, risk and regulatory data, and crypto data are expected to be the areas with increased budget. This is partly due to participants seeking better sources for existing data, with over three-quarters of buy-side respondents looking for more sources of historical tick data for areas such as market and trade surveillance.

      The data also showed that asset managers, wealth managers, and private banks have significantly increased cloud adoption since our last two studies, with 63% of participants receiving data using internet connectivity from the public cloud, versus only 30% in 2023. Cloud is increasingly being leveraged for streaming data – with 53% of participants saying that cloud will enhance delivery of streaming data.=

      Respondents are also changing how they receive data. Firms are increasingly relying on market data vendors to feed into their systems, coming out as the most favourable way to receive data, whereas last year direct-from-source data was the most popular choice.

      Commenting on the findings, Matthew Nurse, Head Market Data, Financial Information, SIX said: “The intersection of technology and data is reshaping how capital markets operate. The rapid uptake of AI/ML, combined with the growing reliance on cloud infrastructure and real-time delivery, is evidence of a clear shift toward more scalable, flexible, and cost-effective delivery models. Looking ahead, one thing will not change, market data will continue to play a critical role in informing investment decisions and managing risk. Those who prioritize technological advancements in data delivery will remain at the forefront of the industry.”

      David Easthope, Senior Analyst for Coalition Greenwich Market Structure & Technology and author of the paper added: “Firms will need to focus on developing robust data management practices to ensure the quality and accuracy of data. By doing so, firms can unlock the full potential of market data to improve decision-making and navigate the increasingly complex regulatory environment.”

      Read the full report.

      Source: SIX

      Confluence-TSG Integration Streamlines GIPS Verification for Asset Managers

      Anna Lyudvig
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      Confluence-TSG Integration Streamlines GIPS Verification for Asset Managers

      The GIPS (Global Investment Performance Standards) verification process can place a significant operational burden on asset management firms, often requiring extensive manual effort to prepare, format, and deliver performance data, according to Damian Handzy, Managing Director at Confluence Analytics.

      The GIPS are a set of voluntary ethical standards developed by the CFA Institute to ensure consistent and transparent reporting of investment performance.

      Damian Handzy

      GIPS provides a framework for how investment firms should calculate and present performance results, making it easier for investors to compare firms on a fair and equal basis. By adhering to GIPS, firms commit to full disclosure and standardized methods, helping prevent misleading practices like selective performance reporting.

      Compiling historical performance data, formatting it to meet verifier-specific requirements, and managing rounds of follow-up requests often demands significant time from compliance and operations teams, Handzy said, adding that a recent update from Confluence Technologies aims to address that.

      On September 17, the company released a new capability within its Revolution Composites platform: a standardized export designed specifically for The Spaulding Group (TSG), one of the industry’s GIPS verifiers.

      The feature allows asset managers to generate GIPS data in exactly the format TSG requires, eliminating the need for manual formatting and reducing the back-and-forth traditionally involved in the verification process, Handzy explained.

      “Increasing demand for automation and standardization are not just a trend in regulatory, performance or reporting – they are trends all over the financial services industry,” he told Traders Magazine.

      “Both better automation and increased standardization mean that professionals can spend more time on value-add activities that investors really want,” he added.

      The verification process, while critical for GIPS compliance, has historically involved a high degree of manual effort, Handzy said, adding that asset managers often need to respond to multiple data requests, reformat performance records, and reconcile inconsistencies before a verifier can complete its review.

      With the new integration, clients using both Confluence’s GIPS Composites solution and TSG’s verification services can bypass many of those manual steps, he said.

      “Clients using both our GIPS Composites solution and TSG’s verification process now have a much more efficient process,” Handzy explained. “They can identify and address any issues faster than before, which means they can get on with the business of managing investors’ or plan members’ assets.”

      According to Confluence, the automation not only speeds up the verification process but also improves data accuracy and reduces operational risk.

      Despite the efficiency gains, Handzy cautions against the assumption that automation reduces the need for human expertise.

      “This enhancement is about making the process faster and more efficient by reducing repetitive manual processes,” he said. “But the industry needs more, not fewer, skilled GIPS resources.”

      Instead of replacing compliance professionals, the technology is intended to support them—freeing up time previously spent on manual formatting so teams can focus on higher-value tasks, such as data review and risk monitoring, Handzy said.

      “With the right technology tools, compliance teams can become proactive—identifying any outliers or suspicious data long before they become real problems,” Handzy noted.

      The partnership between Confluence and TSG could influence broader adoption of automated workflows in performance reporting and verification, Handzy said.

      Both companies have strong reputations in the GIPS community, and Handzy believes the collaboration lowers a barrier that may have discouraged some firms from pursuing GIPS compliance.

      “We expect that this collaboration will help spread the adoption of GIPS because together we’ve made the process streamlined and hassle-free,” he said.

      Sterling Trading Tech Unveils OMS 360

      Anna Lyudvig
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      Sterling Trading Tech Unveils OMS 360

      Sterling Trading Tech has redesigned its order management system (OMS), launching OMS 360 in an effort to address growing regulatory pressures and the increasing complexity of modern trading environments.

      Michael Baradas

      The updated platform introduces real-time application of Regulation T and Portfolio Margin—features that are meant to close the gap between fast-moving markets and slower, end-of-day compliance processes, according to Michael Baradas, OMS Product Manager at Sterling.

      “The way trading happens has changed, but risk controls have largely stayed the same. We wanted to build something that reflects how firms are actually operating—in real time, with real exposure,” he told Traders Magazine.

      The redesign comes amid several market and regulatory shifts. According to Baradas, two main factors are pushing the industry toward change: on one hand, retail trading activity and the use of leverage have continued to rise; on the other, regulators are reconsidering long-standing rules—most notably, the FINRA Board of Governors has reviewed a proposal to ease the $25,000 net equity requirement for Pattern Day Trader accounts.

      “These are clear signals that both participation and regulatory expectations are evolving,” Baradas said. “Firms are being asked to do more in less time, with greater transparency.”

      Historically, according to Baradas, order management systems have operated separately from risk platforms, with checks occurring after trades are routed. He said that OMS 360 combines the OMS with Sterling’s existing Risk Manager (SRM), enabling margin and buying power calculations to be updated continuously as trades are placed and market conditions change.

      The system applies real-time checks across Excess Liquidity, Special Memorandum Account (SMA), PDT, and Portfolio Margin accounts—an approach intended to reduce margin calls and improve capital utilization, he said.

      “The goal is to prevent problems before they happen. By the time you’re doing end-of-day reconciliation, it’s already too late,” he stressed.

      He added that the integration of risk and order management is part of a broader trend in the industry. As compliance burdens increase, some firms are looking to embed regulatory controls deeper into the trading process, he said, adding that OMS 360 aims to support that by providing a live audit trail and shared data views across trading, risk, and compliance functions.

      “In most setups, there’s a delay between when a trade is made and when risk sees it. We’ve tried to remove that lag,” Baradas explained.

      Transitioning from legacy platforms, however, presents challenges, according to Baradas, who pointed to technical hurdles such as account and margin model mapping, aligning FIX workflows, and managing latency. There’s also the need for training and operational change management, particularly at the desk level, he said.

      To support migrations, Sterling is offering a range of tools including prebuilt FIX adapters, API documentation, sandbox environments for testing, and parallel run support. Still, the process requires coordination across multiple teams, Baradas argued.

      Looking forward, the company plans to expand OMS 360’s capabilities to support additional asset classes, such as futures, global equities, and digital assets.

      It also aims to introduce features like scenario testing and supervisory analytics, along with more configurable, no-code workflow options, Baradas said.

      “The core of the system is real-time risk enforcement. From there, we’re building outward—toward broader coverage and more flexibility,” he concluded.

      Not Just for Crypto: What 24/7 Trading Can Do for Equities

      ION Markets
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      Not Just for Crypto: What 24/7 Trading Can Do for Equities

      By Bob Cioffi, Global Head of Equities, ION Markets

      Further to just disrupting financial norms, crypto markets have redefined investor expectations. In a world where digital-native investors can trade Bitcoin on a Sunday evening as easily as they can send a text, traditional equity markets appear increasingly outdated. As a result of this normalized 24/7 liquidity, the pressure is mounting for traditional equities markets to follow suit, or risk losing relevance. If equity markets fail to keep up, they could lose the attention of the next generation of traders.

      Always-on access – a luxury, or a necessity?

      Platforms like Binance and Coinbase already allow users to trade anytime. Millions of investors expect markets that never close, such that waiting for the ‘market to open’ feels increasingly arbitrary.

      The United States is moving in this direction. Overnight trading has grown, driven by retail investor demand and the success of platforms like Robinhood and Webull. It is particularly popular among younger generations. There’s also a desire to cater to global markets, particularly in Asia where there is demand from investors to trade US stocks during their daytime hours. While volumes are still smaller than regular market hours, liquidity is increasing, and participation is broadening.

      As a result, equity markets that stick to traditional hours risk losing their competitive advantage.  Liquidity will always move toward the easiest and most accessible options. So, if investors can access another asset class or another country, that is where they will flock. Traders can already buy and sell crypto, forex, and various futures contracts at any times – how long can equities remain the exception?

      Real-world hurdles

      Currently, all major equities exchanges worldwide operate within defined daytime market hours – a tradition resistant to change despite advancements in technology. While the launch of the US’ first 23×5 equities exchange is set for September this year, and major exchanges including NYSE and Cboe have signaled moves towards round-the-clock trading, moving to true 24/7 equity trading is more complex than flipping a switch.

      The modern trading day is still rooted in the earliest exchange practices, where concentrating liquidity into specific hours helped ensure efficient price discovery. This is a key concern for regulators and for organizations.  The Securities Industry and Financial Markets Association (SIFMA) warned in a 2024 letter to the SEC that 24-hour trading could weaken the structure underpinning US markets.

      Significant operational hurdles require industry-wide agreement to overcome. Exchanges, brokers, and infrastructure providers rely on downtime to run updates, patch vulnerabilities, and make system changes. Corporate actions like dividends, earnings releases, and shareholder votes are also designed around a fixed trading day. Add the need for continuous monitoring, and the cost-benefit is unclear.

      The case for longer hours

      There are strong arguments in favor of expanding trading windows, many of backed by technological advancements. Algorithmic trading, for example, already reduces the need for constant, hands-on monitoring. As its popularity grows across all markets, fewer orders are directly dependent on human intervention. Extended trading hours will also make the US markets more accessible to international investors, helping to accelerate market growth.

      What’s more, equities as an asset class operates in an increasingly competitive environment. Equities are just one of the many options available to investors. So, if markets don’t keep up with the pace of change, and instead become relatively less accessible, the damage could be long-lasting.

      Charting the path forward

      At present, a full shift to 24/7 equities trading remains uncertain. While there are clear benefits in terms of global access and investor flexibility, significant risks to market structure, operational integrity, and regulatory oversight remain.

      The shift cannot happen in isolation. It will require exchanges, brokers, clearinghouses, and technology vendors to collaborate on market data infrastructure, settlement processes, and corporate action timelines that can handle a market with no fixed opening or closing bell. Advances in multi-hub, 24×5-capable systems show what is possible, but turning possible into practical requires investment from all participants.

      In reality, markets tend to evolve in the direction of investor expectations. Just as shorter settlement cycles have freed up capital more quickly, longer trading hours could bring new liquidity and new participants into equities. The open questions are whether the benefits will outweigh the cost—and whether equity markets will lead the change, or follow it.

      US, UK Form Taskforce for Markets of the Future

      Press Release
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      US, UK Form Taskforce for Markets of the Future

      The Chancellor of the Exchequer and the US Treasury Secretary establish a Transatlantic Taskforce for Markets of the Future to enhance collaboration on capital markets, digital assets and other innovative financial activities.

      The Chancellor of the Exchequer, Rachel Reeves, welcomed US Treasury Secretary, Scott Bessent, to Downing Street last week for a joint industry roundtable where they reaffirmed the deep and historic connection between the world’s leading financial hubs in the United Kingdom and United States. To ensure the strength of this relationship is maintained into the future, and through the ongoing period of technological change, they have decided to establish a Transatlantic Taskforce for Markets of the Future.

      The Taskforce is to report back to both finance ministries, via the UK – US Financial Regulatory Working Group (‘FRWG’), on recommendations to enhance collaboration on capital markets and digital assets and other innovative financial activities. These recommendations are to be developed in close collaboration with industry partners ensuring we unlock opportunities for investors, businesses, and market participants on both sides of the Atlantic.

      The purpose of the Taskforce is to explore:

      1. Options for short-to-medium term collaboration on digital assets whilst legislation and regulatory regimes are still developing, as well as options for long-term collaboration and additional opportunities for wholesale digital markets innovation.
      2. Options to improve links between our capital markets to enhance the growth and competitiveness of both UK and US markets, focusing on reducing burdens for UK and U.S. firms raising capital cross-border.

      The Transatlantic Taskforce for Markets of the Future should report within 180 days. The Taskforce is to be chaired by officials from HM Treasury and US Treasury and include representatives from UK and US regulators responsible for capital markets and digital assets regulation as appropriate.

      The Taskforce should seek input from leading industry experts to ensure that its recommendations are informed by what matters most to industry.

      Source: UK Treasury

      Adam Inzirillo Leaves Cboe for Citigroup

      Anna Lyudvig
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      Adam Inzirillo Leaves Cboe for Citigroup

      Citigroup has appointed Adam Inzirillo, formerly of Cboe Global Markets, to lead its cash and futures execution platform within the equities division, Bloomberg reported, citing people with knowledge of the matter.

      Inzirillo didn’t immediately respond to a query from Traders Magazine.

      Adam Inzirillo

      In his new position, Inzirillo will take charge of Citi’s electronic execution services, with a focus on trading algorithms and direct market access solutions, Bloomberg reported.

      He is expected to join in October as the global head of the execution platform for the equities unit, reporting to Sebastien Mailleux, Citi’s global co-head of prime services.

      Inzirillo joined Cboe in 2019 as head of U.S. equities and was elevated to global head of data and access solutions in 2023 as part of a broader executive reshuffle.

      Prior to joining Cboe, he was Managing Director, Head of Order Routing and Execution Products at Bank of America Merrill Lynch (BAML), where he worked for nearly a decade.

      Cboe has confirmed Inzirillo’s departure.

      “We are grateful for Adam’s contributions and wish him all the best in his future endeavors,” a Cboe Global Markets spokesperson told Traders Magazine.

      The spokesperson said that in addition to leading Cboe’s Global Derivatives business, Catherine Clay, EVP and Global Head of Derivatives, will continue to oversee the Cboe Data Vantage business.    

      ON THE MOVE: Northern Trust AM Names Anwiti Bahuguna; Lord Hill to Intercontinental Exchange

      Anna Lyudvig
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      ON THE MOVE: Northern Trust AM Names Anwiti Bahuguna; Lord Hill to Intercontinental Exchange
      Anwiti Bahuguna

      Northern Trust Asset Management has appointed Anwiti Bahuguna as global co-chief investment officer, according to a press statement. She will be a member of the Asset Management Leadership Group, Investment Policy Committee and Risk Committee. Bahuguna is based in Chicago and reports to Northern Trust Asset Management President Michael Hunstad. During her 27 years in the investment industry, Bahuguna has built and strengthened global investment teams and developed multi-asset strategies using equities, fixed income and alternative investments. Most recently, Bahuguna was deputy global chief investment officer for Northern Trust Asset Management, CIO of multi-asset investments, and head of retirement and not-for-profit OCIO investment teams. Previously, she spent two decades at Columbia Threadneedle, where she served as head of U.S. multi-asset strategy.

      The Rt. Hon. the Lord Hill of Oareford CBE

      Intercontinental Exchange has elected The Rt. Hon. the Lord Hill of Oareford CBE (Lord Hill) to Board of Directors, according to a press release. Lord Hill, who currently serves on the Board of Directors of ICE Endex Markets, a subsidiary of ICE, is also expected to join the Board of Directors of ICE Futures Europe subject to regulatory approval. Lord Hill has a distinguished background in politics and a broad range of experience advising businesses throughout the U.S., United Kingdom (UK) and European Union (EU) on a range of geo-political topics. He has served as a member of the House of Lords Financial Services Regulation Select Committee since 2024. 

      Joseph Radic

      Speaking exclusively to Traders Magazine, Joseph Radic confirmed his appointment as Managing Director, Trading at Freedom Capital Markets, the investment banking arm of Prime Executions, Inc.. Radic brings over 30 years of experience across institutional sales and trading and M&A advisory. He has led desks and advised clients across the small- and mid-cap landscape, with a focus on client engagement, strategic coverage, and execution.

      Commodity Futures Trading Commission Acting Chairman Caroline D. Pham has announced new members of the Global Markets Advisory Committee and subcommittees, which she sponsors. Scott Lucas, Managing Director, Head of Markets Digital Assets at J.P. Morgan, has been appointed co-chair of the GMAC’s Digital Asset Markets Subcommittee, together with co-chair Sandy Kaul, Executive Vice President at Franklin Templeton.

      Jessica Donohue has joined Northern Trust as head of Product Management for Asset Servicing, according to a press release. Donohue brings nearly 25 years of industry experience, most recently serving in senior leadership roles at State Street Bank and Trust Company, including as global head for the Asset Owner segment and as head of Global Investment Insights, Sustainability and Impact.

      Rimes, a provider of enterprise data management and investment platform solutions to the global investment community, has appointed Vijay Mayadas as President and Chief Executive Officer, according to a press release. Mayadas, a seasoned FinTech executive with a track record of scaling global businesses and driving innovation in financial markets, succeeds Brad Hunt, who will assume the role of Vice Chair, Rimes Board of Directors. With more than 25 years of pioneering experience at the intersection of technology, data, and financial services, Mayadas joins Rimes after 12 years at Broadridge Financial Solutions, where he most recently served as President of Capital Markets.

      State Street Corporation has elected Brian Porter to its Board of Directors, according to a press release. Porter has more than 40 years’ experience in banking and serving institutional clients, including expertise in international banking, risk management, corporate banking, and capital markets. He formerly served as President and Chief Executive Officer of The Bank of Nova Scotia (Scotiabank).

      If you have a new job or promotion to report, let me know at alyudvig@marketsmedia.com

      Franklin Templeton Adds Infrastructure Solutions for Retail

      Press Release
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      Franklin Templeton Adds Infrastructure Solutions for Retail

      Franklin Templeton, a global investment leader with more than $1.6 trillion in assets under management, together with three leading institutional infrastructure investment firms: Actis, the Sustainable Infrastructure business of General Atlantic; Copenhagen Infrastructure Partners (“CIP”); and DigitalBridge, announced a strategic partnership to deliver private infrastructure solutions to individual investors.

      This partnership seeks to provide private wealth clients with differentiated access to high-growth infrastructure opportunities, thematically focused on energy security, electrification, and digitalization, as well as sectors including data centers and hyperscaler development, renewable energy, fiber and towers, and digital power.

      “We are excited to partner with three leading firms: DigitalBridge, CIP, and Actis, in response to a compelling market demand for allocations to infrastructure,” said Jenny Johnson, President and CEO, Franklin Templeton. “The trends shaping the private markets present an opportunity to broaden access to capital and advance the availability of investments in energy security, electrification, and digitalization, and this is a unique opportunity for investors to unlock that potential.”

      By 2040, global infrastructure needs are expected to surpass $94 trillion, representing an estimated $15 trillion capital opportunity for private investors.1 Through this strategic partnership, Franklin Templeton, together with three leading managers, will bring together complementary expertise to address this demand and deliver attractive investment opportunities:

      • DigitalBridge (AUM: USD$106 billion2) is a leader in global-scale digital infrastructure investing, which provides opportunities to capitalize on the ever-growing digital evolution, including artificial intelligence, by deploying capital across five key verticals: data centers, cell towers, fiber networks, small cells, and edge infrastructure.
      • Copenhagen Infrastructure Partners (AUM: USD$37 billion2) is the world’s largest dedicated fund manager within greenfield energy investments. Through its broad portfolio of energy infrastructure projects and industry expertise, CIP enables the partnership to take full advantage of the opportunities emerging from the global energy transition.
      • Actis (AUM: USD$16 billion3), the Sustainable Infrastructure business of General Atlantic, a leading global investor (USD$114 billion), is a growth market specialist. For over two decades, Actis has invested in critical infrastructure assets with defensive profiles across power, transmission, transport, and digital sectors worldwide.

      “Digital infrastructure is a core driver of the global economy, and private wealth investors are increasingly seeking access to opportunities that have traditionally been reserved for institutions,” said Marc Ganzi, CEO of DigitalBridge. “Partnering with a global distribution leader like Franklin Templeton allows us to broaden access to this asset class at a pivotal moment, as artificial intelligence, electrification, and next-generation connectivity accelerate demand for digital and energy infrastructure. By combining our sector expertise with Franklin Templeton’s reach in private wealth, we are creating a platform designed to deliver institutional-quality opportunities to a broader set of investors.”

      “We are delighted to join this partnership for the development of critical global infrastructure, and energy infrastructure in particular,” said Christian Skakkebæk, Senior Partner at CIP. “As pioneers in providing energy and electrification solutions, we look forward to contributing our distinct industrial approach to value creation, based on investing in greenfield projects and developing them from the ground up. This collaboration is the first of its kind, marking a significant milestone for investors looking to strengthen their portfolios with private infrastructure.”

      “We are building critical infrastructure across energy, digital, transport, and other high-growth sectors, supported by disciplined, hands-on investment capital,” said Torbjorn Caesar, Chairman of Actis. “Investors today are seeking resilience, scale, and relevance – qualities that define Actis’ sustainable infrastructure platform in growth markets. Through this strategic partnership, we look forward to expanding access to our investment platform and delivering long-term value.”

      Once launched, the expanded suite of private wealth offerings will seek to deliver institutional-quality private infrastructure access. The investment profile is expected to provide stable inflation-linked cash flows. These solutions are intended to be built for resilience through economic and market cycles, with exposure to high-growth sectors driving the future of energy, transport, and digital connectivity.

      Source: Actis

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