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.

Read this next

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading


DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.