Parameta appoints Head of Benchmark and Indices with a focus on ESG and rates

Rick Steves

The firm said building out its benchmarks & indices offering will now be a core priority, with a particular focus on the ESG and rates space.

Parameta Solutions, the Data & Analytics division of TP ICAP, has appointed Anand Venkataraman as the Head of Benchmark and Indices Product Management following last week’s approval as a benchmark administrator by the UK Financial Conduct Authority.

Anand Venkataraman joins Parameta from Qontigo, part of the Deutsche Börse Group, where he headed up the Product Management function for their index business.

His career includes senior business development and product roles at Citi Fixed Income Indices and The Yield Book, and Barclays Risk Analytics and Index Solutions businesses.

Meeting client demand for OTC benchmark and indices

Parameta Solutions has been authorized by the FCA to operate as a benchmark administrator in a milestone for the interdealer-broker, which will be the first to administer over the counter (OTC) benchmarks and indices.

Anand Venkataraman will join the team to help expand Parameta Solutions’ existing suite of benchmarks, with a particular focus on the ESG and rates space.

The company provides clients with unbiased OTC content and proprietary data, and in-depth insights across price discovery and risk management, alongside its existing TP ICAP euro rates benchmarks offering.

The firm finds there is a significant gap in the market for independent benchmarks and aims to meet client demands for unique and transparent data-driven insights.

The new Head of Benchmark and Indices Product Management will focus on developing Parameta Solutions’ Index solutions and services to give clients the access they need to this valuable information.

The Data & Analytics division of TP ICAP became a FCA authorised benchmark administrator last week. It will take on administration of the nine TP ICAP interest rate swaps benchmarks that were previously administered by Moorgate Benchmarks Ltd.

The nine benchmarks, which all cover the mid-price interest rate swaps from TP ICAP’s Global Broking business, increases transparency for market participants for whom data-driven insight is crucial, especially for risk and compliance purposes. In particular, visibility into the level of the implied mid-price in the relevant underlying swap rate is key for clients as they adopt these benchmarks.

The firm said building out its benchmarks & indices offering will now be a core priority, with a particular focus on the ESG and rates space.

ICAP Information Services Limited trading as Parameta Solutions will take on all administrative responsibilities for the benchmarks previously administered by Moorgate from 16 May 2022. Parameta Solutions also complies with the IOSCO Principles for Financial Benchmarks.

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