LedgerEdge, the distributed ledger platform for corporate bond trading, has appointed Stefano Dallavalle to develop LedgerEdge’s platform as product director. He joins LedgerEdge with numerous management and hands-on experiences working in product development. Whilst working at Flextrade, he was responsible for its European fixed income execution management (EMS) strategy. Prior to that, Dallavalle worked at MarketAxess in numerous roles across European credit trading including workflows, automation and price discovery. He also led the delivery of cloud-based all-to-all trading protocol at MarketAxess.
“LedgerEdge is already delivering innovative trading technology in many ways,” said Dallavalle. “Together with the product management team I look forward to shaping a next generation product that will modernise the corporate bond market and deliver for our customers.”
Diederik Van Suchtelen has joined the company as head of LedgerEdge’s Amsterdam Office and leads its sales effort in the EU, as LedgerEdge BV looks to establish an EU multilateral trading facility (MTF) licence in the Netherlands, subject to regulatory approvals.
He has more than 12 years of experience trading within fixed income and capital markets and joins LedgerEdge from SFI Markets, formerly STX Fixed Income, a boutique trading house where he was responsible for the Northern European market. Prior to that he worked to set up the Tradition branch in Amsterdam. Furthermore, Diederik has held senior positions at ATC Financial Solutions and Wallich & Matthes, where he set up the asset backed securities desk.
Diederik commented, “LedgerEdge is advancing the fixed income market by addressing structural inefficiencies, making trading easier and more targeted for all participants by increasing access to new liquidity. I look forward to working with the team to develop our expansion into Europe, which is a significant milestone for the firm”.
This follows LedgerEdge’s UK MTF authorisation in 2022. LedgerEdge Securities, its US subsidiary, was granted approval to operate as a broker-dealer and an Alternative Trading System (‘ATS’) by the Financial Industry Regulatory Authority (‘FINRA’) in late 2022 and by the Securities and Exchange Commission (SEC) in early 2023. LedgerEdge will be launching in Europe as an MTF later this year and in the US as an ATS in 2024.
Commenting on the appointments, Kate Karimson, chief commercial officer of LedgerEdge said, “As LedgerEdge moves towards further innovation in its product development and expansion in the EU, we are delighted to welcome Stefano and Diederik to the growing team. Stefano will play a central role in driving the expansion of our product portfolio and global presence, while Diederik’s impressive sales expertise and strategic leadership will be instrumental in his new position. Both Stefano and Diederik bring significant experience and will support our focus to advance the market forward as we accelerate our customer reach”.
The company has plans to continue to expand with key hires to follow, it says. The firm saw the departure of several senior staff towards the end of 2023, including then CEO David Nicol, Tim Cook and Dom Holland.
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