Plato grows membership
15 August 2017 | 4464 views | 0
Source: Plato Partnership
Plato Partnership Limited (“Plato Partnership”), a not-for-profit company bringing creative solutions and efficiencies to today’s equity marketplace, is pleased to announce the participation of SKAGEN AS, Cedar Rock Capital and Jefferies as Founder Members.
They join other major organisations already part of Plato Partnership including Axa Investment Managers, Baillie Gifford, BlackRock, Deutsche Asset Management, Fidelity International, Franklin Templeton Investments, J.P. Morgan, Norges Bank Investment Management, Union Investment, Barclays, Bank of America Merrill Lynch, Citi, Deutsche Bank, Goldman Sachs, Morgan Stanley, and UBS.
Plato Partnership’s development is driven by three key working groups: the Turquoise Plato Expert Group (TPEG), Market Innovator (MI3), and the Plato Strategic Initiatives Group (PSIG).
As founder members, the firms will be afforded a seat on the Plato Partnership board and working groups and enables firms to play a central role in developing and improving equities market structures in Europe.
Mike Bellaro, Plato Partnership Co-Chair and Global Head of Equity Trading, Deutsche Asset Management, said:
“The value that Plato Partnership brings to the market relies heavily on the strength of the firms and individuals that participate in it. The companies that are joining will play a vital role in helping us develop transparency and efficiencies in the market. We hope to continue expanding our membership and increasing the quality of execution, trust and transparency in the industry. This is a very exciting announcement and it is great to see more firms supporting our vision.”
Nej D’jelal, Plato Partnership Co-Chair and Managing Director, Head of Electronic Equities Product, EMEA at Barclays, said:
“Plato Partnership is about the collective effort of the investment community to enhance markets in the interests of end investors. Accordingly, we are delighted to announce the addition of our new members, further underlining market participant appetite to develop and enhance the future of equity markets through Plato Partnership.”
Øyvind Schanke, Chief Executive Officer at SKAGEN AS
“SKAGEN AS’s involvement in Plato Partnership is motivated by our shared ambition to improve the market’s performance and mitigate operating risk on behalf of our clients. The work that Plato Partnership does is helping the industry become more transparent and efficient. We are excited to be part of a body that has already delivered meaningful change and will continue to do so for years to come.”
Yavuz Arikan, Head of Trading and Portfolio Analysis at Cedar Rock Capital
“Cedar Rock’s work with Plato Partnership is a continuation of our commitment to working in the best interests of our clients by reducing operating risk and improving performance. With members from both buy-side and sell-side communities, as well as in the academic space via the MI3 offering, Plato Partnership is uniquely positioned as an organisation to facilitate us achieving this goal.”
Ben Springett, Head of European Electronic and Program Trading at Jefferies
“Jefferies is happy to be part of Plato Partnership. Being able to collaborate with other members of Plato Partnership will help us work towards a goal of increasing efficiencies in the market and improving trading transparency. Working with both buy-side and sell-side firms, along with fostering academic research, Plato Partnership is in a great position to change the way the market operates for the better.”