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

Executive Moves

TopFX promotes Omar Al-Janabi to head of sales and business development

Prime brokerage firm TopFX has strengthened its Middle East operations with the promotion of Omar Al-Janabi, who is taking on an expanded role as global head of sales and business development.

Retail FX

Plus500 says 2022 revenue to be ‘significantly’ ahead of analysts’ estimates

Israeli-based, but London-stock market listed Plus500 said it expects annual revenue and earnings to be ahead of analysts’ estimates even as trading levels normalised from record volumes in the first quarter.

Digital Assets

Crypto derivatives giant BitMEX launches spot market

Crypto exchange BitMEX is looking to branch out of its singular focus on crypto derivatives with a suite of new product offerings. Although derivatives are to remain at the heart of BitMEX’s business, the popular platform will add spot crypto trading as it aims to aggressively grow their user base.

Uncategorized

PrimeXM reports mixed trading volumes for April

PrimeXM has reported weaker trading volumes for April 2022, in line with other institutional and retail platforms that saw the activity of their clients dropped compared to a month earlier.

Digital Assets

DLT Finance approved by BaFin to support brokerage and custody of digital assets

DLT Finance is already partnered with big names within the digital asset space, including Kraken, Bitstamp, B2C2, and Bittrex.

Institutional FX

LUKB taps vestr to launch actively managed products, AMCs

The partnership with vestr goes to show the growing importance of digitising the active investment management space.

Digital Assets

Jewel taps Tokeny to launch stablecoin-as-a-service solution on Polygon

Jewel aims to offer a stablecoin-as-a-service solution to other digital asset and financial institutions B2B, allowing those businesses to provide cheaper, easier and near real time payments with stablecoins issued and redeemable directly at the bank level at Jewel.

Industry News

SEC charges $410+ million Ponzi scheme with pre-IPO shares

We allege that the defendants deceived investors about the pre-IPO shares they held, how much they were charging in fees, and who was controlling the business—all while paying themselves more than $75 million.

Industry News

FNZ taps data analytics GIST to address ESG ratings bias

The allocation of capital is critical to driving the change required to transition to net-zero and building a more sustainable economy and society.

<