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Friday, November 1, 2024
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ICE and IPC Systems Launch ICE Voice

By
Press Release
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ATLANTA, NEW YORK and LONDON — September 18, 2024 — Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, and IPC Systems, a leading provider of trading communications solutions, announced today the launch of ICE Voice. This cloud-based audio solution is now live through ICE Chat, ICE’s industry-leading instant messaging system for commodities, offering a seamless communications platform for traders and global market participants.

Maurisa Baumann

ICE Voice leverages IPC’s Connexus Unigy private cloud platform to integrate always-on, persistent open connections with ICE Chat’s extensive network of over 120,000 users. ICE Chat can support full audio recording with configurable retention and anywhere, anytime playback of archived calls. Integrated chat and voice logs can create a single record of communications, helping to aid in trading desk or firm-wide compliance programs.

“We’re pleased to offer a single, integrated platform for chat and voice that was designed to tailor to the workflows of our customers and provide always-on, instantaneous connectivity for traders and other financial market participants,” said Maurisa Baumann, Head of Desktops and Feeds at ICE. “This innovative new solution can foster communication throughout the trading process and offer an easy-to-use recordkeeping tool for both chat and voice communications.”

ICE Voice is seamlessly integrated into the ICE Chat platform and is designed to provide an efficient workflow for financial professionals to effortlessly connect and interact. It combines voice connectivity with functionality that was designed specifically to tailor to the custom needs of traders, including ICE Chat’s AI-powered Smart Text Recognition functionality, which turns texts into actionable data using APIs, and Message Blaster for sending single messages to multiple contacts. With the addition of ICE Voice, users can seamlessly jump from chat to voice, open calls from chat tabs and group chat rooms, and create Voice Blasts to ‘shout out’ to groups of open connections simultaneously.

“By bringing our industry-leading voice technology together with ICE’s Chat network, we’re offering market participants a single solution for their communication needs,” said Tim Carmody, Chief Technology Officer at IPC Systems. “As traders needs evolve with changing markets, this robust solution will provide an enhanced trading experience for ICE Chat users and the back-office staff supporting them.”

For more information about ICE Chat, please visit: https://www.ice.com/fixed-income-data-services/access-and-delivery/desktop-web-platforms/chat.

Source: Intercontinental Exchange

Tech Innovation, Regulatory Actions Prompt Buy-Side Compliance Overhaul

By
Editorial Staff
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An explosion of data, communication channels and a series of costly regulatory actions are driving a compliance overhaul by asset management firms, hedge funds and other investment organizations around the world, according to Coalition Greenwich.

In February of this year, the U.S. Securities and Exchange Commission (SEC) levied more than $81 million in fines against 16 prominent investment advisors for failing to properly maintain electronic communications records. Meanwhile, in May, more regulatory infractions surfaced. Several of Wall Street’s well-known private equity firms announced they were negotiating a settlement with the SEC over employees’ use of banned communication channels.

With regulatory enforcement heating up, Coalition Greenwich, in collaboration with Bloomberg L.P., launched a new study to understand the compliance challenges facing the investment industry, and how buy-side firms were working with new technologies and strategies to minimize emerging compliance risks.

Audrey Costabile

The results, which were based on interviews with buy-side business management, risk, compliance, legal, and technology professionals in North America, Europe and Asia-Pacific, clearly demonstrate that increased regulatory scrutiny is pushing improvement in organizational risk controls—a response similar to that seen among sell-side firms in 2022 following $2 billion in SEC fines for social media and text recordkeeping lapses and the use of unauthorized communications channels.

“With the likelihood of further SEC actions down the pipeline, buy-side firms are elevating compliance to a top priority, and increasing technology investment accordingly,” said Audrey Costabile, Senior Analyst for Coalition Greenwich Market Structure & Technology and author of Global Buy-Side Compliance and Surveillance: Innovation as the Competitive Differentiator.

“Firms recognize the potential risks of failures, as well as the benefits of good compliance to investors, firm brand and fundraising efforts as the competitive environment gets tougher and margins further compress,” she added.

Rising Budgets, Shifting Priorities

Approximately 60% of buy-side firms expect compliance budgets to increase in the next 12 months, including nearly 1 in every 10 expecting growth in spend of more than 25%. Much of that investment in the future will be used on systems to normalize and integrate existing data and systems.

Artificial intelligence (AI) will also be a top priority. While there is still some basic blocking and tackling to do, the utilization of AI/natural language processing (NLP) policies to enhance performance and reduce false positives sits prominently on the roadmap for the buy side.

“Firms are realizing the need to aggregate, normalize and contextualize information within a single workflow,” said Costabile.

“The ultimate goal for the buy side is the integration of all comms, voice and trade events, including both structured and unstructured data, into a single, seamless surveillance and reconstruction process,” she said.

The report analyzes buy-side compliance spending, technology requirements and investment priorities, and drills down to examine specific trends in communications surveillance, trade surveillance, voice/video surveillance, trade compliance, and risk controls.

The report also presents insights and data on the use of AI and advanced predictive and behavioral analytics, and on the integration of surveillance and reconstruction.

Global Relay Announces AI-Enabled Voice Surveillance Solution

By
Editorial Staff
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Global Relay, a provider of digital communications and recordkeeping, has announced AI-enabled voice-to-text transcription services to support the heightened need for voice communications surveillance.

As organizations place more reliance on voice and video platforms to deliver business meetings virtually, the pressure escalates for firms to increase their recordkeeping and surveillance capabilities to include these channels.

Global Relay’s end-to-end voice transcription enables organizations to archive and monitor voice, alongside all other communications data – for a complete and unified solution for data capture.

Currently the service can transcribe 57 languages into their original language to meet the demands of today’s global market. Once archived, transcriptions can be downloaded directly into English, on demand.

Warren Roy

“Our solution goes beyond just transcribing voice communications, it’s intelligent transcription,” said Warren Roy, CEO and Founder of Global Relay.

“Compliance teams expect to monitor and act on all the data in their archive – voice included. When choosing a transcription service, they want the highest levels of data security, accuracy, and control – which are fundamentals for Global Relay and we’re proud to be one of the most accurate solutions on the market.”

Trained on vast, multilingual datasets, Global Relay’s AI-enabled transcription service recognizes complex speech patterns, including technical language, slang, and accents, while omitting background noise.

Using a Large Language Model, voice communications are accurately transcribed to text, allowing the same keyword analysis that firms have for emails, texts, and other communications channels. Features such as speaker separation also makes reviewing conversations quick and seamless for regulated firms conducting voice surveillance.

Global Relay is giving users the chance to test out its voice transcription solution in the Global Relay Voice Challenge. Firms are invited to send in their most challenging voice recording sample, and Global Relay will transcribe it live. Anyone interested in participating in the Voice Challenge can register here.

“At Global Relay, we’re always looking to advance industry standards with innovation,” said Roy.

“No matter what the channel, we facilitate the capture, recordkeeping, and monitoring of all business communications – including voice – so our customers have one integrated compliance solution to meet all their regulatory requirements.”

InteliClear Unveils New Post-Trade Processing Solution

By
Editorial Staff
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With increasing regulatory pressures, the rise of digital assets, and the demand for faster and more efficient settlement cycles, it is imperative that institutions adopt solutions that enable them to remain competitive and compliant, John Paul DeVito, Co-Founder & Director of Sales & Marketing at InteliClear said.

John Paul DeVito

On Monday, September 16, the firm launched InteliClear 2.0, its new post-trade processing solution, which allows for advanced AI-driven functionalities, enabling institutions to automate complex post-trade workflows, enhance real-time data analytics, and ensure predictive compliance—empowering firms to optimize operations, reduce errors, and scale efficiently in an increasingly complex environment.

InteliClear 2.0 introduces enhancements specifically designed to address these challenges, providing the financial services industry with the tools needed to navigate the complexities of the modern market with greater agility and confidence.

DeVito said that InteliClear 2.0 represents a “pivotal advancement” in post-trade processing.

“Through close collaboration with market participants, we developed features that not only enhance performance but also provide unparalleled flexibility and customization,” he said.

The new version is engineered to empower financial institutions to navigate today’s dynamic market environment with increased efficiency and precision, he said.

Key features and benefits include:

1. Advanced Functionality

– Enhanced Data Binding: Seamlessly transfer data from various sources, supporting formats like
JSON, XML, and custom formats.

– Improved Sorting, Filtering, and Grouping: Tailor search results to suit your business
requirements.

– Optimized Paging: Effortlessly view and navigate through multiple pages of search results.

– Customizable Columns: Adjust column size, order, and visibility for a personalized view.

2. Researching and Enhancing User Productivity

– Smart Data Insights: Leverage advanced analytics tools to generate actionable insights for
faster, informed decision-making.

– Automation of Repetitive Tasks: Streamline workflows by automating tasks like data entry and
report generation.

– Intuitive User Interface: User-friendly design accelerates adoption, reducing training time and
boosting productivity.

– Real-Time Collaboration: Collaborate seamlessly with multiple users working on the same
dataset, ensuring team efficiency.

– Quick Search & Retrieval: Advanced search features deliver instant access to critical
information, minimizing search time.

3. Increased Flexibility & Customization

– User-Defined Dashboards: Customize dashboards to meet specific business needs and visualize
key metrics.

– Adaptable Workflow Integrations: InteliClear 2.0 integrates smoothly with existing business
tools without disrupting operations.

4. Unmatched Performance

– Virtualization & Lazy Loading: Experience lightning-fast search results with optimized loading
performance.

5. Responsive & Adaptive Design

– Mobile-Friendly: Enjoy a consistent, seamless experience across all devices, from desktops to
mobile.

6. Customization & Extensibility

– Personalize Your Experience: Switch between light or dark modes, customize color palettes,
fonts, and save tailored searches.

7. Seamless Integration

– Easy Setup: InteliClear 2.0 integrates easily with frameworks like jQuery, AngularJS, React, and
more.

8. Global Reach & User Experience

– Internationalization: Supports multiple languages and right-to-left scripts like Arabic and
Hebrew.

– Extensive Documentation & Support: Comprehensive documentation and a vibrant community
make onboarding simple.

9. Ongoing Support & Maintenance

– Regular Updates: Stay up to date with the latest development trends through regular updates.

– Professional Support: A dedicated team is available to assist with all your needs.

The launch of InteliClear 2.0 represents a significant milestone in the company’s ongoing commitment to innovation and excellence in post-trade processing, according to DeVito.

“We believe that InteliClear 2.0 will be instrumental in helping our clients stay ahead of industry challenges and seize new opportunities,” he said.

Lime Trading Strengthens Leadership Team

By
Press Release
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[NEW YORK, NY] September 17, 2024 – Lime Trading Corp “Lime Trading”, a leading agency broker delivering fast, reliable and scalable direct market access to the US equities and options markets, announces the appointment of Eva Sehic as Chief Executive Officer and Johan Sandblom as President and Head of Business Development.

Eva Sehic

These appointments reinforce Lime Trading’s commitment to optimizing business operations to
best serve the trading community and deliver continuous product innovations that empower sophisticated retail traders alongside institutional clients.

Eva Sehic is a proven leader with extensive experience leading mission-critical business operations in complex global markets at renowned firms including Goldman Sachs and Deutsche Bank. Since joining Lime in September 2023, she has achieved significant cost containment, operational efficiency, and collaborative strategy development, laying a solid foundation for further innovations.

“I am honored to lead alongside Johan to deliver unmatched execution quality and hightouch client services and am committed to growing our community of sophisticated traders via both our screen trading platform (Lime Trader) and our trading technology suite (Lime Direct).” She continued, “I have truly enjoyed getting to know the Lime Trading team am eager to further our mission to serve our diverse community of traders, partners, and employees.”

Johan Sandblom

As President, Johan Sandblom—who has championed Lime execution technology for nearly two decades—will focus on fostering growth and innovation through enhanced product development and deeper collaboration with the trading community.

“The essence of Lime Trading’s success lies in the transparent, collaborative relationships we cultivate with our clients,” stated Johan Sandblom. “Our leading-edge execution technology ensures top-tier performance for both retail and institutional traders, positioning Lime Trading as the ideal partner for ambitious traders at every level—from emerging retail traders and systematic novices to established hedge funds and market makers.”

Lime Trading was established in 2000 by hedge fund traders who couldn’t find a brokerage firm to meet their needs for volume, speed, and privacy — so they created one. Today, Lime Trading is expanding competitive access to everyone who values quality execution. Lime is filling a void between the bulge bracket banks and retail brokerage firms for sophisticated traders that need fast, reliable, compliant, scalable access to the US equities and options markets.

Lime continues to evolve and expand its offering for traders of all strategic approaches with recent additions of VPS offerings, Python coding languages for its popular retail trading API, and introducing new order types –a direct result of their collaborative client relationship approach. Looking forward, Lime continues to expand its offering to remain at the leading edge of trading technology worldwide.

About Lime Trading

For more than twenty years, Lime Trading has been focused on developing tools and technology to enhance traders’ access to markets. Through their suite of products and services including a broad range of APIs, platforms and technology solutions, Lime Trading partners with retail and institutional traders to execute trading strategies at the speed they need and execution quality they can trust. With no commission on U.S. equity trading, Lime is uniquely positioned to provide fast, cost-effective access to the markets. Lime Trading Corp is an SEC-registered broker-dealer, member of FINRA/SIPC/NFA.

For more information, visit https://www.lime.co/.

Source: Lime Trading

The Aeron Community Meet-ups – From Developers for Developers

By
Editorial Staff
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Aeron, the open-source technology for low-latency, high-throughput messaging and fault-tolerant clustering, is powering front-office trading systems across the globe.

The Aeron Community MeetUps are a series of events, designed for users of the Aeron technology, those who are keen to learn more about it, open-source contributors, and anyone interested in the latest developments in high-throughput, low-latency, fault-tolerant trading applications!

Dates & Times

All MeetUps commence at 4.30pm with networking, followed by two hours of presentations and knowledge sharing and wrapping up at 8pm.

— Thu, 10th October in Chicago 

— Thu, 7th November in New York

— Thu, 21st November in London

What’s on the agenda

The fall MeetUps will cover a range of technical sessions, including:

  • Introducing Aeron and its components
  • Aeron – What’s New/Latest releases – Discover the latest updates in Aeron 1.45.0, designed to boost performance, availability, and usability. 
  • Focus topic: SBE (Single Binary Encoding) – Dive into the world’s most efficient message encoding standard. Serialization is a significant cost factor in high-performance systems. We explore how SBE addresses this issue.
  • Technical Deep Dive: Using RAFT in trading system design. Contrary to popular belief, consensus can be fast. We’ll explore the RAFT consensus algorithm and its implementation in the Aeron Cluster.

Additionally, there will be real-life use case presentations from industry guest speakers sharing their Aeron journey: implementation, challenges, tips and outcomes.

Our guest speakers:

Chicago:  

  • Kevin Young, VP of Engineering / Head of Core Trade, DriveWealth

New York:

  • Frank Yu, Director of Engineering, Coinbase
  • Amit Khandelwal, VP Trading Architecture, Fidelity

London:

  • Wenzhe Hu, Senior Software Engineer, IMMIX
  • Andrew Mann, Cofounder, IMMIX
  • More to be announced shortly

The Aeron Community Meetups provide an excellent opportunity for networking among peers, knowledge sharing and speaking to the developers behind Aeron. Register here >>

Want to know what you missed during previous MeetUps? You can refer back to use highlight and use case presentations from the likes of Man Group, SIX Interbank Clearing, Talos and Brevan Howards here >>

TECH TUESDAY: Equity Listings Are a Slam Dunk for Sports Teams

By
Phil Mackintosh, Chief Economist, Nasdaq
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TECH TUESDAY is a weekly content series covering all aspects of capital markets technology. TECH TUESDAY is produced in collaboration with Nasdaq.

One of America’s longest running pastimes is professional sports. Yet, there has been less public investing in professional sports teams than one might expect. Still, there are a lot of reasons why being publicly traded makes sense for pro sports teams and why they can be an attractive investment for investors, too.

Pro sports teams have been publicly traded on and off for decades

Some people might be surprised to learn that a number of different professional sports teams have been, or currently are, publicly traded. In the past:

  • This season’s NBA Champion Boston Celtics went public back in 1986 – just a few months after winning the NBA Finals that season. But they went private in 2002 (no title that year).
  • In the ‘90s, the MLB’s Cleveland Indians (now Guardians) and the NHL’s Florida Panthers both went public (on Nasdaq) for a few years each.

Today, investors are able to invest in six different sports organizations:

  1. The Atlanta Braves (BATRA & BATRK) are listed on Nasdaq.
  2. The New York Knicks and New York Rangers via their parent company, Madison Square Garden Sports Corp. (MSGS).
  3. The same is true for the Toronto Blue Jays (MLB), Maple Leafs (NHL), Raptors (NBA) via Rogers Communications Inc. (RCI).
  4. You can even invest in football clubs (soccer for Americans), with Manchester United (MANU) listed in the U.S., while Juventus and others are listed abroad.
  5. F1 fans can invest in Liberty Media (FWONA & FWONK) on Nasdaq, the sport’s parent company.
  6. Similarly, TKO Group (TKO) owns UFC and WWE wrestling.

You might be interested to know that their combined market value is about $75 billion (chart below) and, according to FactSet, 70% of that is available to be publicly traded (green bars).

Chart 1: Sports teams’ market caps vary significantly, as do their floats

Sports teams’ market caps vary significantly, as do their floats

Surprise! You might already own a sports team via ETFs

Many of the teams are already included in major indexes. For example:

  • The Braves are in the Russell 2000.
  • The Knicks and Rangers are in the S&P 600.
  • F1 is in the Russell 1000.
  • The UFC and WWE are in the S&P 400.

That means if you own exchange-traded funds (ETFs), especially small- or mid-cap ETFs where they’re mostly included, you might already be a minority owner of a team!

Importantly, inclusion in indexes also means that these listings are highly liquid.

Sports teams have been good stocks to own in recent years

Of course, for investors, what matters most is whether a stock is a good investment.

In recent years, sports teams have been good stocks to own (although we all know past performance is no guarantee of future returns!).

Benchmarked against the S&P 400 mid-cap index (chart below, purple line), we see that most of the U.S.-listed sports teams’ stocks have outperformed their peers over the last couple years, with the UFC and WWE (TKO) being the standout.

Chart 2: Sports stocks have outperformed other mid-caps

Sports stocks have outperformed other mid-caps

Even though many teams are still private

The majority of teams are privately owned, but between actual transactions and Forbes’ estimates, there’s a lengthy record of valuations. Morningstar researched sales over the last 20 years, finding that the average sports team values have grown at least twice as fast as the S&P 500 (chart below) – for the NBA it’s 3x, for the MLS it’s 5x!

Chart 3: Sports team values have outpaced the S&P 500 over the last 20 years

Sports team values have outpaced the S&P 500 over the last 20 years

Yet another benefit of public stock markets 

Public stock markets help connect investors and entrepreneurs — providing cash to power new operations and growth to companies, as well as dividends and growth to investors.

Public equity markets benefit sports teams in the same ways they benefit company IPOs, namely:

  • An IPO is a source of funds: A paper from NIU suggests that an IPO could help the team attract star free agents or invest in new facilities for fans, enabling them to grow revenues. In recent years, taxpayers have been less willing to cover the costs of stadiums, with only 40% of the cost covered, half the share they covered in the ‘90s.
  • Constant liquidity: Trading on an exchange solves a lot of the problems typically associated with buying or selling a pro sports franchise – a sometimes long and public process.
  • Stocks attract new, long-term, investors: Listed companies are more accessible to mutual funds and retail investors, a combined pool of tens of trillions of dollars. Both represent a new, broader, often long-term investor base. As teams have become increasingly expensive, the addition of potential buyers expands who can afford the potentially multi-billion-dollar price tag to buy a team.
  • Public prices lower costs of capital: With continuous bids and offers quoted on exchanges, investors can value the sports teams more accurately and find liquidity whenever they decide to invest. This has been shown to reduce the costs of capital.
  • Incentivize long-run performance: Building teams that can be competitive over the long run benefits investors and stock prices, as well as fans! Research from William & Mary suggests that, since league offices should already have this long-term vision, they’re great candidates for an IPO. The success of this strategy has already been demonstrated by F1’s commercial side of the sport going public, while its individual teams have separate ownership.

Sports teams might also be good for investor portfolios

Although sports teams are a little different from more traditional companies, there are a number of similar reasons as to why adding a sports team to your portfolio might make sense.

  • Live sports are an increasingly precious commodity. Last year, 56 of the 100 most-watched telecasts were live sports. As a result, media rights deals for sports keep rising. The NBA recently signed an 11-year media rights deal for $76 billion – at $7 billion per year, that’s more than 2.5x the annual fee of its last deal. Annual TV and new streaming rights deals for sports have doubled in the last decade to $30 billion a year.
  • They’re more recession-proof. A report from Morningstar notes that long-term media rights deals are paid out regardless of the economic cycle, providing downside protection against recessions, and that attendance has proven resilient to recession.
  • They provide diversification. Reporting from Sportico has highlighted that sports teams are unlike any other asset out there, and as such, they’re “non-correlated” with other assets, providing important diversification. Also, some teams have exposure to venues and merchandise in addition to media rights on the team itself.
  • It’s fun! For most investments, the only thing “fun” about it is when the price goes up. But, for sports teams, if you’re a fan of the team, it gives you the opportunity to own a piece of your favorite team!

Equity listings are a win-win-win for owners, investors, and leagues

Lots of other enterprises trade on exchanges. For team owners, trading provides liquidity that allows ownership to change hands more easily and price discovery to more transparently show a franchise’s value. It also increases the pool of potential buyers from a few billionaires to a few billion people.

Today, investors only have a few options if they want to invest in sports teams. But, with all the potential benefits to being publicly traded, it might make sense for more teams to join the Atlanta Braves and F1 on Nasdaq. 

Michael Normyle, U.S. Economist at Nasdaq, contributed to this article. 

Creating tomorrow’s markets today. Find out more about Nasdaq’s offerings to drive your business forward here.

Team MIAX Supports Autism Awareness

By
Anna Lyudvig
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MIAX has deep rooted experience in developing, operating and trading on exchanges. Over the past decade, MIAX has grown from a single options exchange to a global trading company that provides access to U.S. and international capital markets.

This year, MIAX is deepening their connection to the Autism Science Foundation as a gold sponsor of Rides FAR (For Autism Research), an annual charity cycling and walking event that brings together many of the most prominent firms on Wall Street and beyond.

Andy Nybo

Team MIAX is a collective of our dedicated employees, their families, and friends from across all of their offices and departments, Andy Nybo, Senior Vice President, Chief Communications Officer at MIAX Exchange Group, said.

“Participating in events like Rides FAR gives us a chance to unite around a shared cause, strengthen team bonds, and engage with others in the industry,” he told Traders Magazine.

MIAX has proudly supported Rides FAR and the Autism Science Foundation for the past six years. Nybo said that Autism research is a cause that resonates deeply with many of MIAX employees. 

“We believe in the importance of contributing to industry-wide efforts that make a difference,” he said. 

“Our support includes financial contributions, active participation in events, and encouraging our employees to get involved,” he added.

This year’s Rides FAR is set to take place on Saturday, September 28 in Chicago, IL and Columbia, MD, as well as on Saturday, October 5 in Toronto, ON and White Plains, NY.

“While we have some riders participating in the White Plains race, we understand that not all of our employees can attend in person due to geographical distance,” Nybo said. 

He said that to ensure broader participation, MIAX is hosting virtual rides in Miami, Princeton, and Minneapolis, allowing their team to engage and support the cause from multiple locations. 

“We hope that others within the industry will join us at these satellite locations if they can’t make it to an official site,” Nybo stressed.

Nybo said that they drive awareness by rallying their employees with internal communications, encouraging them to sign up and take part. 

“To broaden our reach, we leverage our social media platforms to promote our involvement and invite others outside of MIAX to join our satellite ride locations,” he noted.

Nybo added that at MIAX, many of their employees have personal experiences with autism, either through family members or close friends and “the cause is one that is meaningful to the team on a personal level”.

In addition to their participation in Rides FAR and their support of the Autism Science Foundation, MIAX is committed to supporting autism awareness through other company initiatives and are actively working on creating programs and resources that further contribute to this important cause.

KeyBanc Capital Markets’ Julie Andress Named 2025 STA Board Chair

By
Press Release
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Julie Andress, KeyBanc Capital Markets

KEYBANC CAPITAL MARKETS’ JULIE ANDRESS APPOINTED TO 2025 BOARD CHAIR OF THE SECURITY TRADERS ASSOCIATION

PR Newswire

NEW YORK, Sept. 16, 2024

NEW YORK, Sept. 16, 2024 /PRNewswire/ — KeyBanc Capital Markets Inc. (“KBCM”), the corporate and investment banking arm of KeyCorp (NYSE:KEY), announced today that Julie Andress, Managing Director, has been appointed to serve as the 2025 Board Chair for the Security Traders Association (STA).

Founded in 1934, STA is a grassroots organization that educates its members on market structure issues while representing their interests with legislators, regulators and other industry associations. The organization is comprised of more than 20 affiliates in the U.S. and Canada. STA members represent individuals employed in the financial services industry across varying business models and they are committed to promoting goodwill and fostering high standards of integrity in accord with the organization’s founding principle, dictum meum pactum, “my word is my bond.”

Andress has served on the STA board for six years. Previously, she served as the STA Board Vice Chair and Women in Finance Co-Chair. Andress has more than a decade of institutional equities sales and trading experience at KeyBanc Capital Markets. During her career, Andress has leveraged KBCM’s best-in-class equity research with real-time inputs to deliver tailored solutions and performance driven execution for her clients.

“We’re thrilled to have Julie as our incoming Chair,” said Jim Toes, President and CEO of STA. “Julie brings proven leadership skills, deep expertise, integrity and a passion for the organization and we know she will advance our mission of advocating for our members and the larger industry during her term.”

“It is a tremendous honor to be appointed to STA Chair,” said Andress. “I’ve always been impressed by the number of ways that STA serves our industry, and I look forward to serving our members as well as advancing our mission to give back to our community.’

“Since joining Key in 2011, Julie has built enduring client relationships, advocated for women in trading and served the STA with integrity and a passion for the industry,” said Doug Preiser, Chief Operating Officer at KeyBanc Capital Markets. “Without question, Julie has been a critical contributor to the success of our platform, and I look forward to her contributions representing KBCM at STA.”

About KeyBanc Capital Markets

KeyBanc Capital Markets is a leading corporate and investment bank providing capital markets and advisory solutions to dynamic companies capitalizing on opportunities in changing industries. Our deep industry expertise, broad capabilities and unique ideas are seamlessly delivered to companies across the Consumer & Retail, Diversified Industries, Healthcare, Industrial, Oil & Gas, Real Estate, Utilities, Power & Renewables, and Technology verticals. With over 800 professionals across a national platform, KeyBanc Capital Markets has more than $50 billion of capital committed to clients and an award-winning Equity Research team that provides coverage on over 500 publicly traded companies. Securities products and services are offered by KeyBanc Capital Markets Inc., member FINRA/ SIPC, and its licensed securities representatives, who may also be employees of KeyBank N.A. Banking products and services, are offered by KeyBank N.A.

About KeyCorp

KeyCorp’s roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of $187 billion at June 30, 2024. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,100 branches and more than 1,400 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

About Security Traders Association

Security Traders Association (STA) is a grassroots organization comprised of more than 20 affiliates in the U.S. and Canada. STA members represent individuals employed in the financial services industry across varying business models. STA educates its members on market structure issues while representing their interests with legislators, regulators and other industry associations. STA events keep attendees informed on industry trends and provide unique networking opportunities, which contribute to career development and productivity. STA is committed to promoting goodwill and fostering high standards of integrity in accord with its founding principle, dictum meum pactum, “my word is my bond.”

View original content to download multimedia:https://www.prnewswire.com/news-releases/keybanc-capital-markets-julie- andress-appointed-to-2025-board-chair-of-the-security-traders-association-302249010.html

SOURCE KeyBanc Capital Markets

Axoni Sells Post-Trade Technology Business to LSEG

By
Press Release
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Greg Schvey, Axoni

New York, September 16, 2024 — Axoni, a leading provider of trade workflow applications and real-time data replication technology announced today the sale of its Veris post-trade processing business and related intellectual property to the London Stock Exchange Group (LSEG), a global provider of financial markets data and infrastructure. The transaction remains subject to closing conditions and is expected to complete in Q4 2024.

Axoni built and operates the Veris network, a post-trade reconciliation and lifecycle management platform for equity swaps. Axoni launched Veris in 2020 and has since onboarded leading banks and asset managers. 

Veris streamlines the post-trade data reconciliation process and prevents cash flow breaks by enabling counterparties to share and compare data associated with equity swap deals, positions, trades, and related cash flows throughout the post-trade lifecycle. Following the transaction, LSEG will own and operate the Veris network after a transition period. Additional software to support post-trade processing in other derivative asset classes will also be transferred as part of the transaction.

Veris customers will continue to benefit from leveraging HYDRA, Axoni’s data platform that offers the easiest and most secure way to replicate data in real-time between institutions.  

Greg Schvey, CEO, Axoni, said, “This acquisition represents a significant step forward in our efforts to modernize OTC derivative post-trade infrastructure. In recent years, we’ve partnered closely with LSEG to develop our trade processing applications and are confident they are the right party to help realize its growth potential.”

About Axoni

Axoni is a technology company specializing in coordination of data between institutions. Axoni’s HYDRA platform enables rapid deployment of critical financial networks and automated, real-time data replication across market participants. Founded in 2017, the company serves banks, asset managers, hedge funds, and financial market infrastructure firms across the globe from offices in New York and London. For more, visit www.axoni.com. 

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