Andrew Delaney is A-Team’s president & editor-in-chief, based in London and New York. He has been involved in information gathering and dissemination around financial markets IT since 1987. He joined A-Team in 2002 to spearhead the company’s publishing activities and is responsible for A-Team’s offerings in the pre-trade information and electronic transactions areas.
Before joining A-Team, Andrew spent three years launching a financial information distribution platform aimed at the off-trading-floor marketplace. Prior to that he spent 11 years at Waters Information Services in a variety of senior roles including editor-in-chief, senior vice president of global sales, and general manager of North American operations. He also spent time with Banking Technology magazine in London and The Wall Street Journal in Brussels.
With Mike Powell taking over as global head of Enterprise content at Thomson Reuters Markets, long-time real-time tech head Terry Roche is stepping in to take on the role of business head for Realtime, relinquishing his former development responsibilities to Enterprise CTO David Kelly.
No sooner had the ink dried – metaphorically speaking – on Shanker Ramamurthy’s appointment as head of Thomson Reuters Markets’ Sales & Trading group, than news wafted its way across the Atlantic of Roseann Palmieri’s departure as head of Enterprise content.
Hot on the heels of Colt’s protracted courtship of MarketPrizm comes yet another corporate action in our beloved low-latency infrastructure segment. This one caught us by surprise, but not because it was unexpected. It’s been expected for so long that we’d forgotten about it, to be honest.
Filling a longstanding void at the top of its Sales & Trading business unit, Thomson Reuters has named former IBM general manager for banking and financial markets Shanker Ramamurthy as president, Sales & Trading, effective June 20. The top slot at Thomson Reuters’ largest operating unit, with revenues of $3.5 billion and 2,700 staff, had been open since the departure of Mark Redwood almost a year ago (see more here).
While it may not be the biggest transaction, Colt’s agreement to acquire a majority stake in MarketPrizm, which finally materialised this week after months of speculation, gives the UK telecom services provider some teeth with which it hopes to bite off a larger chunk of the trading connectivity marketplace.
Keeping abreast of the to’ing and fro’ing between the various entities vying for control of NYSE Euronext has added a certain piquancy to simultaneously hosting a panel discussion on Optimising Latency in a Fragmented World at our Business & Technology of Low Latency Trading events this month in London and New York. Assessing the connectivity implications of the current wave of exchange consolidation is a juggling act if ever there was one.
The idea that Google would be interested in – and is indeed seeking to – acquire Thomson Reuters Markets first came to my attention at the London Stock Exchange, oddly enough. I was there for a function, and after a panel discussion about the future of the exchange marketplace, I got chatting with a gentleman from hedge fund Marshall Wace, who suggested Google could solve our market’s connectivity and hosting issues at the drop of a hat; it just needed a catalyst to show it how the world works.
If you think Angela Merkel had a tough time convincing the German public to bail out Greece, think what she’s facing as she prepares to tell them that their beloved Xetra trading platform is relocating to a former Ford car park in Basildon, a desolate corner of Southeast Essex. For that is what almost certainly will happen if NYSE Euronext’s stated plan to acquire Deutsche Boerse goes ahead.
Just because we could, we took lunch on Fleet Street yesterday. I managed to squeeze in a quick haircut at the hairdressers just across the street from the Punch Tavern, then ambled over to Lutyens, the newish chi-chi restaurant housed at – yes, you guessed it – 85 Fleet Street.
Plenty of food for thought this week for those of us who need to think deeply about latency. No, A-Team isn’t wrestling with how to squeeze out interparty latency, cut the tails of its jitter curves or ensure ROI on new high-speed venue connections (although we know many of you are).
Given its concerted effort to raise its visibility over the past year or so, RealTick’s sale to ConvergEx Group, announced today, comes as little surprise. It comes as little surprise too that its owner, Barclays, would want to divest itself of a non-core business that it acquired along with the US operations of Lehman Brothers in that post-Credit Crunch deal.
Back in the summer of 2006 – soon after Silver Lake Partners had completed its acquisition of voice trading systems supplier IPC Information Systems – we mused whether IPC might emerge from ‘going private’ as full-service network services provider designed to give the likes of BT Radianz a run for their money in the financial markets connectivity space.
Hibernia Atlantic has laid down the gauntlet with its announcement of plans to build the lowest-latency trans-Atlantic cable connection. We first heard about so-called Project Express at our A-Team Insight Exchange Event in London last month, where the rumour spread as fast as a laser shot down an optimised fibre connection.
The autumn season of 2010 holds the promise of extreme exchange action in the European arena as all of the major incumbent exchanges proceed with major investments in their matching engine, data centre and connectivity infrastructures. Clearly, this has all come in response to the arrival of a glut of multilateral trading facilities (MTFs) since the launch of the most successful of them – Chi-X Europe – back in mid-2007.