Sucden Financial Commences STIR Market Making

October 05, 2022 - 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, CEO, Sucden Financial, 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.”

Atlantic Trading acted as a liquidity provider and market maker on interest rate and bond options, covering all European and select US interest rate markets for nineteen years. Their team of quantitative strategic traders utilised in-depth trading analysis and high-end visual tools, providing market insight to develop trading opportunities.