19 February 2018
visit www.nextgenbanking.co.uk/

Illuminate Financial invests €2 million in fixed income liquidity platform AxeTrading

07 June 2017  |  2857 views  |  0 Source: Illuminate Financial

AxeTrading, a provider of fixed income trading technology, has announced a strategic investment of €2 million from Illuminate Financial Management LLP, a venture capital firm backed by Deutsche Börse Group and IHS Markit amongst others with a specific focus on capital markets financial technology.

Through its flagship solution AxeTrader, the firm provides banks, broker-dealers and buy-side firms with a complete picture of fixed income liquidity including axes, runs and quotes - sourced across electronic venues, messaging platforms and voice channels. The firm also provides clients with tools to support best execution and regulatory reporting, including MiFID II.

The strategic investment will enable AxeTrading to continue to expand its global client base for fixed income liquidity aggregation - as concern over market fragmentation continues to rise. According to a 2016 Greenwich Associates Survey of more than 400 credit investors in the U.S. and Europe in 2016, over 80% felt that reduced market liquidity is impacting their ability to implement their investment strategy.

The capital injection will also bolster AxeTrading’s buy-side offering at a time when buy-side requirements in fixed income markets are growing significantly. A recent State Street poll of asset managers found that 49% agreed that the role of non-bank institutions as providers of liquidity will continue to grow - highlighting the need among these institutions for more advanced trading technology solutions.

As part of the investment, Mark Whitcroft, Partner at Illuminate Financial has joined the Board of Directors.

AxeTrading was co-Founded by Ralf Henke, CEO, who has over 15 of years of experience building fixed income electronic trading solutions for companies such as at JP Morgan whilst he was managing director of iCubic; Dinos Daborn, who has over 25 years in financial markets including roles at Citi and Bloomberg; and Mark Watters, who worked at Bloomberg for 17 years, including two years running the buy-side fixed income trading sales group for Europe and Asia-Pacific.

Mark Whitcroft, Partner at Illuminate Financial Management LLP comments: “With a strong and highly experienced leadership team, AxeTrading are well placed to solve key challenges for fixed income market participants today; Liquidity fragmentation, regulatory compliance around MiFID II and the growing need to drive greater efficiencies across trading workflows. The investment aligns well with our vision of investing in firms with a developed product offering and a clear, validated use case”

Dinos Daborn, Co-Founder and COO of AxeTrading comments: “The partnership with Illuminate Financial positions us well to capitalise on the ongoing fixed income market structure disruption, as a result of which we are seeing significant demand for trading solutions that effectively aggregate market information and support best execution,”

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Visit https://www.capgemini.comvisit www.swift.com/your-needs/instant-paymentsvisit www.ebaday.com

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11463 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
9025 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8887 views 10 comments | 22 tweets | 26 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8795 views comments | 15 tweets | 43 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
7395 views comments | 12 tweets | 10 linkedin

Featured job

Competitive base + commission + benefits
London, UK

Find your next job