Quentin Limouzi

In his new role, Limouzi is set to focus on supporting Broadridge’s clients with global regulatory developments and future technological innovations.

He most recently served as global head of investment management and execution solutions, and also previously headed up global buy-side trading for Refinitiv, among other roles.  

Vijay Mayadas, president of capital markets at Broadridge, said: “With increasing trading velocity, faster settlement cycles, and the acceleration of AI and advanced analytics across the trade lifecycle, our leading post-trade platforms are uniquely positioned to enable capital markets firms to transform and simplify through global, multi-asset class, modular solutions.

“With Quentin’s leadership and market expertise, we can continue to deliver the solutions our clients need to operate, innovate and grow.” 

The appointment follows Broadridge’s recently announced GenAI-powered analytics offering as part of its OpsGPT platform, aimed at enhancing its post-trade operations.

Read more: Broadridge adds GenAI-powered analytics to improve multi-asset post-trade processing

Limouzi’s previous roles include stints as head of execution sales, APAC at HSBC Global Banking and Markets and executive director, head of electronic and algorithmic trading, Asia at BNP Paribas.

He has also previously served at firms including: Redi, TradingScreen, and Deutsche Bank.

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Aviad Axelrod was named head of fixed income and equities (FIEQ) product for EMEA at BNY within the Global Markets Trading business. He most recently served in an algorithmic trading and execution services role at Stifel Financial. London-based Axelrod will report to both John Goodheart, global head of FIEQ product and Bianca Gould, head of fixed income and equities EMEA at BNY. His experience spans over two decades, working at firms including ITG Virtu, Pi-Finance, and Stifel in roles related to electronic algo trading, business development, and market structure.  

TD Securities appointed Rob Fallon as director of sales trading, based in Dublin. Fallon joined the firm from Deutsche Numis, where he spent the last two years, most recently serving as director of sales trading. Prior to his role at Deutsche Numis, Fallon spent over two decades at Goodbody, also based in Dublin. While at Goodbody, he most recently served as a senior sales trader covering Irish and UK SMID stocks. Earlier in his career, Fallon held a money market derivatives operations role at Deutsche Bank.

Broadridge appointed Stephen Wilkes senior vice president, head of international buy-side sales, based in London. As part of the role, Wilkes will be responsible for the firm’s sales efforts across EMEA and APAC, focusing on the asset management and asset servicing communities. Earlier in his career, Wilkes spent nearly 13 years at Deutsche Bank in a variety of sales-related roles. Before joining Deutsche Bank, Wilkes spent six years at JP Morgan, most recently serving as executive director, futures and options and OTC clearing sales. Before this, he worked as vice president at the bank for four and a half years.

The Association for Financial Markets in Europe (AFME) appointed April Day head of capital markets. Day was promoted to the role, following 12 years at AFME, where she has previously served as head of equities. As part of the role, she oversaw equity capital markets (ECM), trading and post-trade activities. She also brings extensive experience in investment banking and capital markets to the new role. Earlier in her career, Day held senior roles at Dresdner Kleinwort, as well as serving as director of equity sales at Panmure Gordon.

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As part of the role, Wilkes will be responsible for the firm’s sales efforts across EMEA and APAC, focusing on the asset management and asset servicing communities.

“I’m looking forward to leading a talented team of sales professionals across both regions. This is a great opportunity to contribute to the continued growth and innovation in Broadridge’s international buy-side business,” said Wilkes in a social media announcement.

Earlier in his career, Wilkes spent nearly 13 years at Deutsche Bank in a variety of sales-related roles.

Most recently, he held a dual leadership role at the bank, responsible for global solutions sales and EMEA securities services sales.

This followed a stint as head of FIC platform sales, where Wilkes held responsibility for distribution of FX prime brokerage, rates prime brokerage and OTC clearing products.

Elsewhere in his tenure at Deutsche Bank, Wilkes served as a regional sales head, based in Singapore, and sales director, based in London.

Before joining Deutsche Bank, Wilkes spent six years at JP Morgan, most recently serving as executive director, futures and options and OTC clearing sales. Before this, he worked as vice president at the bank for four and a half years.

Wilkes began his career at Goldman Sachs as an associate, following a graduate programme at the bank.

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The new service will offer insights to hedge funds, asset managers and other buy-side based off real-time liquidity mapping. It claims to be the only service of its kind, leveraging private and public data to understanding the liquidity landscape, including potential dark fil locations.

Broadridge said its approach identifies “ideal algorithmic execution” for orders and reduces outliers to improve trading costs. 

The service includes real-time alerts and in-trade analysis, allowing for in-flight adjustments.

The service is now available to NYFIX routing customers in the US equities market, with future plans to extend access to clients on other order routing networks.

“Algo traders will now have a quantitative, data-driven service to power critical trading decisions,” said George Rosenberger, head of NYFIX, Broadridge Trading and Connectivity Solutions. 

“By harnessing the power of AI and historical insights, we’re giving our clients the tools they need to navigate complex markets with greater precision and confidence. This innovative solution not only optimises trading strategies, but also reduces costs, making it an invaluable asset for the buy-side.”

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Named Tbricks, Broadridge’s multi-asset trading and market making solution will now offer traders the opportunity to quote a greater number of structured products across markets and distribution channels.

“The enhancements to the platform have enabled us to better serve our clients with our Marex-issued structured products in a dynamic market condition,” said Mehdi Mlaiki, head of trading, Marex Solutions.

The firm said the move evidenced its commitment to providing infrastructure across the trading lifecycle.

“Banks and broker/dealers have long struggled with the complexity and scale of structured product quotations, which span multiple markets and various quoting modes,” stated Konstantin Romanov, global head of principal trading products, Broadridge Trading and Connectivity Solutions.

“Tbricks directly addresses this critical issue, empowering banks and broker/dealers globally to quote at unprecedented scales and unlock new efficiencies through an intuitive, consolidated user interface.”

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Broadridge has launched a global futures and options (F&O) software-as-a-service (SaaS) platform, aimed at expanding derivatives trading capabilities.

The full hosted platform has been designed for futures commission merchants (FCMs) and agency brokers. The move comes in response to “a lack of customised solutions for each workflow, leading to fragmented experiences for buy-side clients and challenges for sell-side firms in gaining a comprehensive view of trading activity and risk management,” said the firm.

Ray Tierney, president of Broadridge Trading and Connectivity Solutions, said: “While existing systems often lack the flexibility required, Broadridge’s futures and options platform stands out for its modular and flexible deployment capability, addressing industry demands head-on.

“We strongly believe this fully hosted solution is a significant step change in order and execution management for the derivatives markets, helping firms simplify and optimise trading.”

According to Broadridge, a top three futures commission merchant has signed as an anchor client.

The platform offers a distributed architecture that enables operations from any jurisdiction, providing robust order and execution management capabilities, access to a diverse range of global listed derivatives markets, and provides a comprehensive pre-trade risk management and middle office functionality.

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Tbricks provides a modular trading platform with a flexible user interface, built-in functionality and customisability.

The platform will be integrated with existing systems at Danske, allowing the bank to scale operations, creating the ability to focus on strategic initiatives as opposed to technology management, alongside providing long-term cost predictability.

“Implementing a managed solution of Broadridge’s Tbricks for multi-asset trading and market making presents us with the latest in trading technology, as well as a long-term partner which over time can expand our offerings within the equities and derivatives trading space,” said Claus Harder, global head of markets and transaction banking at Danske Bank.

“After a thorough review of other fintech and capital markets solution providers, we are excited to expand our longstanding relationship with Broadridge.”

Tbricks claims to allow clients to utilise systems that enable increased interoperability, allowing them to rapidly adapt to change, employ sophisticated trading strategies and capitalise on business opportunities.

“At Broadridge, we’re committed to building a leading suite of innovative and scalable solutions across the trade lifecycle,” said Ofir Gefen, managing director EMEA and APAC at Broadridge Trading and Connectivity Solutions.

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Back in 2020, we said the race for speed was over, and the global race for quality data and analytics was on. We see this continuing, and the industry-wide lack of quant resources – critical for researching, analysing and understanding market behaviour – adds both complexity and urgency to this race. The quest for quality historical market data, without gaps and spikes, will intensify. The market has been dominated by real-time firms whose historical product is little more than their exhaust! If historical content is driving decision-making, then quality becomes the most important aspect, whatever your firm’s level of sophistication.

Market participants need global data-driven content to enhance their own products and gain deeper understanding of market shifts and liquidity dynamics, and to identify opportunities for better trading outcomes. Crucially, they need their data to be ready for use without the burden of data engineering and infrastructure on their P&L. We expect an acceleration in firms moving away from heavily investing in aggregating, owning, storing and engineering these data sets, time and time again when high-quality, curated and maintained historical data and analytics are available for all. Market participants will differentiate themselves by what they do with data, not by owning it! 

Ray Tierney, president of Broadridge Trading and Connectivity Solutions (BTCS) 

Data driven thinking and the integration of digital technology will reshape industries and propel companies forward heading into 2024. As data driven and digital technologies continue to become more integrated into the market, managers at all levels need to keep these factors in mind when they develop strategies, allocate resources and set goals.

The combination of data driven thinking and the integration of digital technology necessitates a cultural change. It starts at the top and requires organisations to continually challenge the status quo, experiment, and get comfortable with failure. Organisations must rethink old operating models and test new ones to become more agile in their ability to respond to customers and rivals. The overarching trend is a shift that prioritises data and analytics, automation, and AI-assisted technologies that will fundamentally change how organisations operate and deliver value to customers.

Michelle Tran, president, TMX Datalinx

Demand for high-quality and differentiated data products will intensify in 2024. High interest rates, trading volume volatility and the overall uncertainty that impacted markets in 2023 and led to widespread corporate cost-cutting are likely to continue into 2024. As a result, investment firms will employ a more stringent vetting process as they evaluate their data needs. There will be a focus on reliable and proven data sets that both optimise returns while reducing risk, and that are applicable to portfolios across many asset types and multiple geographies.

We anticipate equity and options traders will lean into quality core data sets such as forward-looking corporate events data, and robust alternative data sets around ESG and private assets. On the fixed income front, the rates transition happening globally will lead market participants to look for benchmarks that streamline the transition to new reference rates. Information businesses will need to tightly align their data strategy with these client needs. This means having a diversified data strategy that includes investment, innovation, expansion, partnerships and acquisitions, to ensure that we continue to support our clients’ entire investment lifecycle needs.

Karen Geiger, co-general manager, SS&C Wealth & Investment Technologies

The key to navigating 2024 will be access to data you can trust. There will be an intense focus on connecting the front- and back-office through modern technology. Enabling real-time data access across the firm is the goal. The increased demand for real-time data comes from two ongoing trends: regulation and asset class diversification. Preparing for T+1 is a priority for all market participants. To prepare, firms will need access to the data even faster than today. Ahead of the May 2024 deadline, more are tapping outsourced specialists for help.

You will also continue to see a push to modernise the loan market, whether through digitised loan data or electronic trading. As firms continue to diversify into this high-yield asset class, there will be a desire to create efficiencies and automate paper-based, manual market processes. Machine learning can help alleviate operational headaches and accelerate processing and settlement times.

Every asset manager is looking to rationalise its technology footprint and spend. The aim in 2024 isn’t merely tech consolidation for consolidation’s sake, it’s about collapsing silos and creating a connected investing experience. Firms will be looking for interoperable solutions with seamless and automated access to real-time data to make fast and informed investment decisions.

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Justin Llewellyn-Jones, head of capital markets, North America (equities, FX and derivatives) and chief product officer for capital markets at fintech firm Broadridge announced his departure after more than four years with the business. Prior to Broadridge, New-York based Llewellyn-Jones worked as global head of derivatives at ION. Before Fidessa’s acquisition by ION back in 2018, he held several positions across the business, including: senior vice president, managing director, and most recently chief operating officer – Americas. His new role – so far unconfirmed – is set to be product focused, with an update expected 4 December.

Ronan McMahon was appointed algorithmic sales trader at CLSA, following his departure from Morgan Stanley back in May. Hong-Kong based McMahon has ten years’ experience in the industry and was previously at Morgan Stanley for four and a half years where he worked as a program trader. Before that, he spent for seven years as a centralised dealer at State Street, working across: India, Indonesia, Pakistan, Philippines, Sri Lanka, Thailand and Vietnam. Previously in his career, McMahon worked as a centralised dealer at Bank of Ireland Asset Management, working on the multi-asset global trading desk.

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Speaking in an announcement on social media, Llewellyn-Jones said: “I am tremendously grateful for the opportunity that I was given to drive the product strategy and revenue growth for Capital Markets, and incredibly proud of everything we achieved.

“I will very much miss working with that fabulous team, but will enjoy watching from the sidelines as they continue their successes driving simplification and modernisation across the trade lifecycle.”

Prior to Broadridge, New-York based Llewellyn-Jones worked as global head of derivatives at ION. Before Fidessa’s acquisition by ION back in 2018, he held several positions across the business, including: senior vice president, managing director, and most recently chief operating officer – Americas. 

His new role – so far unconfirmed – is set to be product focused, with an update expected 4 December.

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