Theta hires ex-Lloyds as Strategic Sales Advisor ahead of multi-asset trading system

Rick Steves

Apollo is an entirely digital trading solution, turnkey, that can be white-labeled and available on any HTML5 browser with a zero-desktop footprint (no install or plug-ins).

THETA has appointed Paul Flanagan as Strategic Sales Advisor, managing relationships with Asset Managers, Hedge Funds, Fund Managers, and Pension Funds.

The 30-year industry veteran has most recently worked as Managing Director for Institutional Investor sales at Lloyds Bank in London.

Prior to that, he managed Fixed Income sales for several leading banks, including Societe Generale, HSBC, Citi, and Deutsche Bank.

The specialist provider of buy-side trading technology as a service is due to launch its trading system for the buy-side, Apollo, later in 2021.

A cloud-native SaaS super aggregator, Appolo was designed from the ground up to address the gaps and challenges faced by firms as market structures and trading landscapes evolve.

The Apollo platform provides multi-channel liquidity aggregation and trading. Initially for Fixed Income. FX trading will be added later in 2021 and Equities during 2022, the firm said.

THETA has already built trading and data connectors for MarketAxess, Tradeweb, MTS BondVision, UBS Bond Port, Neptune, BondCliQ, IHS Markit, ICE Data Services, and Refinitiv amongst others. The SaaS platform integrates with clients’ existing P/OMS systems via FIX and REST APIs.

Abdullah Hiyatt, Founder and Chief Executive Officer at Theta, commented, “As we move closer to launching Apollo we continue to raise awareness among buy-side trading firms and grow our sales pipeline. Paul’s appointment accelerates this process, as he provides us with unrivaled Fixed Income knowledge, business development expertise, and a wealth of senior industry relationships.”

Paul Flanagan, Strategic Sales Advisor at Theta, said: “As the trading landscape evolves at speed, buy-side firms are increasingly demanding more flexible, modern and efficient electronic trading technology. THETA provides an ideal technology platform to automate electronic trading workflows together with actionable integrated pre-trade pricing data.

“From initial discussions with market participants, there is already a great deal of interest in THETA’s super aggregator, Apollo. I am confident that by introducing Apollo to my industry relationships we will quickly extend distribution to an extensive group of institutional investors”.

Theta’s Apollo addresses the needs of niche and leading asset managers as it plugs the gap between current EMS capabilities and the evolving new trading landscape demanded by traders and regulators.

Apollo is an entirely digital trading solution, turnkey, that can be white-labeled and available on any HTML5 browser with a zero-desktop footprint (no install or plug-ins).

In 2020, Theta hired Peter Meddemmen to serve as its Chief Technology Officer, but he later became a strategic advisor only as he moved to Kore Labs as CTO.

The firm has been working on its next-gen cloud-native multi-asset trading technology blueprints and prototype for nearly two years.

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