NewswireToday - /newswire/ -
Paris, Ile-de-France, France, 2009/11/17 - Former Aviva Investors head of structured products and business management, Jez Bezant, has joined the recently launched RFQ-hub, the new derivatives request-for-quote platform, as partner.
Dr Jeremy Bezant, who was previously head of structured products and business management for Aviva Investors (Morley Fund Management), has joined RFQ-hub as partner. RFQ-hub was founded earlier this year by David Sagnier, an ex-JP Morgan Managing Director. The derivatives request-for-quote electronic trading platform for listed and OTC equity derivatives allows fund managers and their banks to automate their equity derivatives price discovery, dealing and processing.
Dr. Bezant said "Having spent time on the buyside trading derivatives I felt that decision support and trading areas, particularly in equities, were poorly served by technology. The highly manual and time consuming process to send and receive quotes challenges the dealer's ability to get tradable competing quotes. Consequently the audit trail is likely to be poor and the chance of operational errors high. RFQ-hub addresses these issues and presents a great opportunity to develop an industry standard, and not just in equity derivatives."
David Sagnier, RFQ-hub’s founder and CEO, speaking from his Paris head office, said “Jez brings a wealth of experience in derivatives from the buy-side. Our business sits between the buy and sell-sides and needs to meet the needs of both. Jez's skills and experience ideally compliment that of our team."
Dr. Bezant will be based in London and will report to David Sagnier. He will be responsible for developing the business in the UK and Europe.
RFQ-hub (rfq-hub.com) is the recently launched bi-lateral request-for-quote and electronic trading platform for listed and OTC equity derivatives. It covers global markets for options, futures, convertibles and ETFs. Most RFQs for listed and OTC derivatives are sent and received over email, instant messaging or the telephone making it administratively intensive and time consuming to get tradable competing quotes. RFQ-hub automates this manual process allowing firms to send and receive competing and tradable quotes electronically from its interface or a client’s own systems. Using RFQ-hub reduces the amount of time spent by dealers obtaining quotes and minimises errors by reducing the amount of re-keying needed. Once executed by the counter-party, the trade record can then be sent to downstream systems without the need for re-keying via RFQ-hub's API or FIX messaging.
RFQ-hub will help prepare the way for increasing regulation in the derivatives markets. It especially helps buy-side dealers, traders and fund managers with pre-trade transparency and price discovery. All interactions are recorded for later review helping, amongst other things, with trade compliance and demonstrating best execution.