BrokerTec Direct poaches Tradeweb boss to head up expansion

Tradeweb’s Nicole Shumpert will head up BrokerTec Direct’s expansion as it is rolled out in US markets.

Tradeweb’s former head of US treasuries, Nicole Shumpert, has joined EBS BrokerTec subsidiary, BrokerTec Direct, to head up its expansion.

As of this week, Shumpert will oversee its expansion as it is rolled out to US markets, and will report to Serge Marston, Global head of BrokerTec Direct.

Chief executive officer at EBS BrokerTec, Gil Mandelzis, said: “From the current incubation phase, [Marston and Shumpert] will lead the development of the product into a fully-fledged offering.”

BrokerTec Direct is described as a fixed income ‘relationship-based’ liquidity subsidiary of EBS BrokerTec. 

The service – which is currently in beta testing phase - enables liquidity providers to stream prices to traders in a disclosed environment.

Marston, a former head of fixed income e-commerce at Deutsche Bank, describes the subsidiary as a “timely and relevant solution”.

He added: “As the fixed income market continues to evolve due to regulation and structural change, participants will benefit from alternative sources of liquidity and execution models.”