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Squawker completes launch of Equity Finance platform

First Published 19th April 2017

Squawker enters operational phase with Equity Finance platform. Ian Axe and Derek Bandeen join Squawker's Advisory Board.

Chris Gregory, Squawker

Chris Gregory, Squawker

London - Squawker, the platform for trading communities to execute hedging and capital optimisation transactions on-exchange, has announced the completion of the launch phase of its Equity Finance platform, and announced Ian Axe and Derek Bandeen as two new members to its Advisory Board.

Chris Gregory, CEO and co-founder, Squawker, comments: "The European Equity Finance market is currently estimated to trade over €2.5 trillion per annum. With six of the top ten banks live and trading through Squawker, we are already seeing some significant trading traffic over the platform. With a further three of the top ten banks close to completing their deployment projects."

Squawker's new solution provides Equity Finance traders with settlement against the three largest equity CCPs and facilitating compliance with their trade reporting, MiFID II and MiFIR regulatory requirements. In addition, Squawker's solution overcomes several key operational issues that currently restrict and limit trading in certain markets, such as automatic registration of share ownership in Spain.

Ian Axe, the recently-designated CEO of Panmure Gordon, former chief executive of LCH.Clearnet, and previously global head of operations and COO for EMEA at Barclays Capital, and Derek Bandeen, former Global Head of Equities at Citigroup have joined Squawker's advisory board.