FIX Protocol Limited (FPL), operator of the FIX financial messaging standard, has added two Investment bank directors to its EMEA committees.
Jim Kaye, director, product development, European execution services, Bank of America Merrill Lynch, joins FPL's EMEA business practices subcommittee, adding to his existing role as co-chair of FPL's global steering committee. Meanwhile, Stuart Baden Powell, head of European electronic trading strategy at RBC Capital Markets, has been selected as co-chair of the FPL EMEA regional committee. The new members replace outgoing co-chair Chris Jackson, director of electronic execution services, Citi, and Alan Dean, global head of FIX connectivity, HSBC.
FPL's current initiatives include meeting the local needs of markets across the world, including the development of risk mitigation guidelines and increasing the use of open standards like FIX in the fixed income markets. The group also works with regulators to help meet reporting requirements using firms' existing capabilities and is also developing an industry benchmark for latency measurement. Both Baden Powell and Kaye will play a role in all of these initiatives.
“I would like to welcome both Stuart and Jim to their new positions and look forward to working closely with them,” commented Daemon Bear, head of ICAP's BlockCross dark pool and current FPL EMEA regional committee co-chair. “FPL has been a driving force in helping to enable many of the major electronic trading practices and trends that have emerged within EMEA over recent years and I believe it will continue to play a vital role in supporting the industry as it evolves.”