The collaboration is expected to provide competitive spreads and improved execution quality to support both institutional and professional spot digital assets trading.
New hire is set to support the bank’s buildout of its credit trading offering in this region; has also previously served at firms including BNP Paribas and Goldman Sachs.
The new offering – MYQ – is expected to support FX market participants in maximising pre-trade workflow efficiency, by collating fragmented pricing quotes across IB chats into a centralised format.
The platform aims to provide firms with institutional-grade datasets, which allow them to retain full control over what they publish; SGX FX, OTC Markets Group and Exchange Data International (EDI) are also joining as proprietary market data publishers.
The move aligns with an uptick in firms shifting to, or considering overnight trading models across the world, particularly in Asian and international markets trading US equities.
Boston-based hire joins after a four-year tenure at Victory Capital; he has also previously served at Amundi US.
Bourse de Casablanca’s launch is set to support the development of Morocco’s financial ecosystem, and will initially support futures contracts on the MASI.20 index, with further instruments set to follow in the future.
Integration enables native access to regulatory, reference and pricing data through Snowflake.
As part of the launch, the firm has brought in two ex-Argentex Group hires to lead dealing and portfolio solutions on the desk; move comes amid “greater complexity around foreign exchange and interest rate risk throughout the investment lifecycle,” Marex tells The TRADE.
The new contracts will cover Avalanche and SUI futures in both micro and larger sizes; go live set for 4 May.