You might have noticed over the years how much The TRADE loves a people move – and they don’t come much bigger than this!
Daniel Veiner was named head of markets at BlackRock in July 2025, overseeing trading, origination, corporate access and ETF markets at the firm.
Veiner has been with BlackRock for 22 years, having most recently served as co-head of global trading.
He took over the role following Supurna VedBrat’s departure back in 2023, stepping in as co-head of global trading alongside Jatin Vara.
Previously, Veiner was named one of The TRADE’s Rising Stars of Trading and Execution in 2016, the second iteration of the recognition which highlights promising up-and-coming talents in buy-side trading.
Prior to joining BlackRock, Connecticut-based Veiner also worked a stint at Group One Trading as an equity options trader.
6. CME and S&P offload OSTTRA in $3.1 billion deal
There’s big M&A transactions, and then there’s multi-billion dollar deals which were always sure to grab readers’ attention. Enter CME and S&P’s offload of OSTTRA back in April 2025.
The firms signed a definitive agreement to sell post-trade solutions provider OSTTRA to investment funds managed by KKR in a deal valued at $3.1 billion.
The sum is set to be divided evenly between S&P Global and CME Group as each hold a 50% interest and the acquisition is subject to customary purchase price adjustments.
KKR confirmed that its focus is on increasing OSTTRA’s investments in technology and innovation across its post-trade solutions platform.
“We have long admired OSTTRA for its mission-critical solutions, deep customer relationships, and strong market position, which we believe provide a great foundation for future growth,” said Webster Chua, partner at KKR.
OSTTRA was established in 2021 – a joint venture between CME Group and S&P Global. The firm offers post-trade services across interest rates, FX, credit and equity asset classes.
Clients include banks, broker-dealers, asset managers, and other market participants.
Upon completion of the deal, current co-CEOs Guy Rowcliffe and John Stewart will remain at OSTTRA and continue to lead the company.
5. StoneX acquires US clearing broker RJ O’Brien
From a major offload to a notable acquisition, coming in at number 5 was news from April that StoneX was bolstering its offering, picking up US clearing broker RJ O’Brien.
StoneX specifically agreed to acquire the global businesses of US clearing broker RJ O’Brien & Associates (RJO), marking an important step for StoneX as it seeks to provide greater access to liquidity in fixed income markets.
StoneX confirmed plans to add over 75,000 of RJO’s client accounts following the acquisition, including brokers, commercial and institutional clients and individual investors, who will be given access to a wide range of markets, products and services such as StoneX’s over the counter (OTC) hedging platform.
The move expands StoneX’s client float by almost $6 billion, with clear listed derivatives volume projected to increase by 190 million contracts annually.
Chief executive and chair of RJO, Gerry Corcoran, confirmed he will continue in a senior leadership role with StoneX as part of the acquisition.
“In addition to all the products we offer today, our clients and brokers will have a plethora of new products and services across asset classes available at their fingertips, bringing meaningful new trading and hedging opportunities,” said Corcoran.
4. UBS makes shock exit from outsourced trading game
Outsourced trading news has seen no let-up in 2025, with The TRADE’s Outsourced Trading Handbook more sought out than ever. Arguably the biggest news from the fast-growing space was our fourth most read story of the year – UBS’ shock exit from the game.
UBS made the decision in March, just weeks after appointing a new head of the business, according to multiple sources familiar with the matter.
The Swiss bank gave its clients a three-month notice period that it was shuttering its outsourced business, The TRADE revealed at the time. The move came as the bank looked to ensure its resources were correctly aligned with its global plans.
“In the fourth quarter of 2024, our global markets division recorded its highest quarterly market share gain for cash equities and the highest prime brokerage balances ever,” said a UBS spokesperson when approached for comment by The TRADE.
“We continue to focus on growth and remain dedicated to our clients as we service them through our broad and leading global markets offerings.”
The news came just weeks after UBS appointed Ian Power as head of its Execution Hub, EMEA, having most recently served as the firm’s head of multi-asset trading, UK. Power left the business following its decision to exit, The TRADE understands.