The TRADE checks in with the alternative trading system two years after its launch to explore its growth, backing from major institutions, use cases and how the platform is expected to evolve in the future.
Pivot Investment Partners, ING Ventures, Barclays, JP Morgan and Wells Fargo Strategic Capital provided additional investment.
The past week saw appointments from Bank of America and Raymond James, alongside a departure from Citi.
The three banks all experienced decreases in equity revenues, however, Bank of America stood out amongst the three with increases in total revenue and net income.
Following a $200 million Series C funding round earlier this year, the new investment will allow the app developer to expand its operations as interest in its platform continues to grow.
Bank of America, JP Morgan and Morgan Stanley have all received multi-million dollar fines for activities relating to off channel communication on personal devices.
Venue will launch for loans first, with a collateralised loan obligations (CLO) trading venue to follow and with plans to expand to other products in the credit market later.
The past week saw appointments from Millennium, Newton Investment Management, FactSet, Bank of America, Babel Finance and Capitolis.
Incoming executive spent the last 10 months at Bloomberg, after nearly nine years as a financial journalist.
Revenues at Goldman Sachs, Morgan Stanley, and Citi soared on the back of gains made in trading, lending and ongoing market volatility.