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Sucden Financial, the multi-asset execution, clearing and liquidity provider, has announced it is now a market maker for ICE Futures Europe's short-term interest rate (STIR) options.
The new service is managed by Sucden Financial's interest rate options team, which is now fully integrated following the acquisition of the trading, IT, and IP assets of Atlantic Trading London Limited.
"We are delighted to begin market making at Sucden Financial with the benefit of its established infrastructure and reputation in exchange-traded derivatives," said Amik Sokhey, Senior Options Trader, Sucden Financial Limited. "After a decade of ZIRP, we are excited to engage in an environment where the distribution of terminal rates has changed dramatically," he added.
Marc Bailey, Chief Executive Officer, Sucden Financial Limited, also commented. "The purchase and integration of Atlantic Trading have enabled us to rapidly enter a new business area at an attractive time, leveraging our existing infrastructure and exchange memberships. In addition, this bolt-on acquisition exemplifies our strategy of identifying and capturing opportunities in complementary services that enable us to grow our revenue streams incrementally."
