Illuminate Financial Invests €2 Million in Fixed Income Liquidity Platform AxeTrading

Illuminate Financial Invests €2 Million in Fixed Income Liquidity Platform AxeTrading
07.06.2017 11:45 am

Illuminate Financial Invests €2 Million in Fixed Income Liquidity Platform AxeTrading

Trading Systems

AxeTrading, a provider of fixed income trading technology, has announced a strategic investment of €2 million from Illuminate Financial Management LLP, a venture capital firm backed by Deutsche Börse Group and IHS Markit amongst others with a specific focus on capital markets financial technology. 

Through its flagship solution AxeTrader, the firm provides banks, broker-dealers and buy-side firms with a complete picture of fixed income liquidity including axes, runs and quotes - sourced across electronic venues, messaging platforms and voice channels. The firm also provides clients with tools to support best execution and regulatory reporting, including MiFID II. 

The strategic investment will enable AxeTrading to continue to expand its global client base for fixed income liquidity aggregation - as concern over market fragmentation continues to rise. According to a 2016 Greenwich Associates Survey of more than 400 credit investors in the U.S. and Europe in 2016, over 80% felt that reduced market liquidity is impacting their ability to implement their investment strategy.

The capital injection will also bolster AxeTrading’s buy-side offering at a time when buy-side requirements in fixed income markets are growing significantly. A recent State Street poll of asset managers found that 49% agreed that the role of non-bank institutions as providers of liquidity will continue to grow - highlighting the need among these institutions for more advanced trading technology solutions. 

As part of the investment, Mark Whitcroft, Partner at Illuminate Financial has joined the Board of Directors.

AxeTrading was co-Founded by Ralf Henke, CEO, who has over 15 of years of experience building fixed income electronic trading solutions for companies such as at JP Morgan whilst he was managing director of iCubic; Dinos Daborn, who has over 25 years in financial markets including roles at Citi and Bloomberg; and Mark Watters, who worked at Bloomberg for 17 years, including two years running the buy-side fixed income trading sales group for Europe and Asia-Pacific.

Mark Whitcroft, Partner at Illuminate Financial Management LLP comments: “With a strong and highly experienced leadership team, AxeTrading are well placed to solve key challenges for fixed income market participants today; Liquidity fragmentation, regulatory compliance around MiFID II and the growing need to drive greater efficiencies across trading workflows. The investment aligns well with our vision of investing in firms with a developed product offering and a clear, validated use case”

Dinos Daborn, Co-Founder and COO of AxeTrading comments: “The partnership with Illuminate Financial positions us well to capitalise on the ongoing fixed income market structure disruption, as a result of which we are seeing significant demand for trading solutions that effectively aggregate market information and support best execution,”

Related News

Cloud9 and SteelEye Partner to Address Voice Trading Compliance Challenges amid Remote Working Conditions

Cloud9 Technologies (“Cloud9”), a leader in cloud-based communications, has integrated with SteelEye, a leading regulatory technology and data analytics provider, to offer the... Read more »

Reuters Events Discuss the Resilience of the Energy Market Through Volatility

Reuters Events will be hosting a free online webinar series focused on commodity trading and commodity value chains.

The energy industry has never seen a year like it.... Read more »

Newfound launches virtual fintech trade mission to stimulate economic growth in UK and Australia

Global expansion specialists Newfound today announced the first ever virtual fintech trade mission between the UK and... Read more »

IPC’s Connexus Cloud ecosystem continues expansion with linkage to London Metal Exchange

IPC, a leading global provider of secure, compliant communications and networking solutions for the global financial markets community, announced today its... Read more »

Cloud9 Chooses OpenFin to Empower “Virtual Trading Desks”

Cloud9 Technologies ("Cloud9"), a leader in cloud-based communications, has partnered with OpenFin, the operating system (OS) of finance, to streamline the deployment of Cloud9... Read more »

QuantHouse to provide TSL machine learning capabilities as part of the QuantFactory cloud backtesting suite

QuantHouse, the global provider of end-to-end systematic trading solutions including... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel