STAMFORD, Conn. & NEW YORK–(BUSINESS WIRE)–Adroit Trading Technologies, a leading buy-side execution management system (EMS) provider in fixed-income cash and derivatives, today announced the appointment of Michael Kraines as the firm’s first-ever Chief Growth Officer.

Kraines will focus on bringing Adroit’s leading tech-driven trading solutions to the increasingly electronified institutional trading marketplace. He will report to Adroit CEO Anil Jaglan as they lead the company through the next phase of its growth. Kraines joins Adroit after successful executive roles with several leading financial technology companies, including serving as President of Trading Technologies (TT), CFO of Digital Currency Group (DCG), and Managing Director at Sandler O’Neill and Wasserstein Perella in their FinTech investment banking groups.

“Michael brings a highly unique expertise set to Adroit, which will accelerate our growth as we work to deliver cutting-edge solutions to a far broader cross section of the marketplace,” said Jaglan. “With decades of leadership expertise across the Fintech sector in general and the EMS vertical in particular, Michael will support our strategy, business development, and sales as we continue to deliver value to our institutional clients.”

“With the growing electronification of fixed income and OTC markets around the world, institutions will increasingly seek to access best-of-breed EMS trading solutions,” said Kraines. “Firms focused on generating alpha and ensuring the highest possible level of execution quality, transparency and efficiency in their trading will need the types of unique solutions that Anil and his team have built at Adroit.”

Founded in 2014 as a comprehensive fixed-income and OTC solution provider, Adroit has emerged as the category-defining leader of fixed-income cash and derivatives EMS to the institutional buy-side. Adroit serves sophisticated hedge funds and long-only asset managers, recognized in 2022 as a “Rising Star” in the Chartis Research Buyside50 industry survey and awarded “Best Overall EMS – Fixed Income” in 2023.

In February, Adroit announced its Series A growth round of $15 million led by Centana Growth Partners, a specialized growth equity firm that invests in fintech and related enterprise software. The funding is being used to further accelerate Adroit’s growth by expanding client distribution and investing further in cutting edge product development.

Read about it at BusinessWire.com

STAMFORD, Conn.–(STAMFORD, Conn.–(BUSINESS WIRE)–Adroit Trading Technologies today announced its Series A growth round of $15 million led by Centana Growth Partners, a specialized growth equity firm that invests in fintech and related enterprise software. The funding will be used to accelerate growth by expanding client distribution and investing further in research and development.

Adroit is the most comprehensive execution management system (EMS) for OTC-heavy buy-side desks. The company offers a cross-asset, all-in-one tool for traders and portfolio managers who are active in cash and derivatives markets, often across tangled global account structures. The system integrates with dozens of trading venues, order management systems (OMSs), broker-dealers and data sources, to offer buy-side traders a single access point for execution, data and analytics.

“Adroit is not just in the fixed-income EMS business – we have defined it. In addition to giving traders the ability to execute trades, we enable traders to add operational alpha throughout the investment process. Traders need to move fast and process massive amounts of information, and over the last 10 years, we have shown how the right technology can be transformative,” Anil Jaglan, Founder of Adroit, said. “We pride ourselves on solving the broad needs of fixed-income traders, servicing clients from investment managers to hedge funds and everything in between.”

The industry projects a 60-70% growth in electronic fixed-income trading over the next decade, driven by regulatory changes, proliferation of available data, and technological advances. While automation and electronification are key drivers of volume and industry focus, a substantial share of OTC trading remains on voice and chat. Adroit’s success to date across diverse, nuanced OTC markets has been driven in part by solving for both high-touch voice-trading and automated, low-touch workflows.

“Adroit is a trailblazing EMS in fixed-income cash and OTC derivatives, addressing a void within a historically opaque industry. Adroit’s approach gives traders a uniquely powerful tool that removes complexities and enhances the execution process,” said Ben Cukier, Co-Founder and Partner of Centana Growth Partners. “Adroit has built a world-class EMS and has a roster of some of the most prominent buy-side clients, all built without outside funding. We’re proud to support the next phase of their business as they continue to scale and grow.”

Founded in 2014 as an all-encompassing OTC solution provider, Adroit has evolved into a dynamic force in EMS. The company achieved profitability in 2016, and by 2021, it strategically focused on EMS capabilities in fixed-income cash and derivatives, where the buy side’s need was most acute. The momentum carried into 2022 with Adroit being recognized as a “Rising Star” in the Chartis Research Buyside50 industry survey, and in 2023, it earned the title of “Best Overall EMS – Fixed Income.” Adroit serves large global clients across both hedge funds and long-only asset managers who, in aggregate, manage over $10 trillion in assets.

About Adroit

Since 2014, Adroit has offered the leading multi-asset front office EOMS solution, and empowers the most sophisticated of global investment managers. It is designed from the ground up to handle the intricacies of trading complex assets, including OTC derivatives, bonds, FX, and listed products. Adroit brings a passion to maximizing trader productivity while minimizing transaction costs. Our architecture features open APIs, for speedy implementation and maximum flexibility. Visit adroit-tt.com for more information.

About Centana Growth Partners

Centana Growth Partners is a specialized growth equity firm that invests in the future of finance. Centana collaborates with companies across the entire financial services ecosystem, from institutions to fintech disruptors, to add strategic and long-term value to their portfolio companies. Centana empowers entrepreneurs with a combination of capital, network, and expertise to accelerate their growth. The Centana team taps into decades of financial services expertise and insight to invest in companies that bring real value and innovation to the industry. Visit centanagrowth.com for more information.

Read about it here: https://lnkd.in/eDmTgYjR

Great time last week at FILS hanging with clients and partners. A few takeaways from panels and conversations:

• Spread bond tickets are getting smaller, and though more is happening electronically (mostly via RFQ), far more than 50% of volume is still done by voice as e growth has slowed
• There is a lot of data to harness out there to support trading decisions. One manager highlighted the need for a solution to ingest, interpret and store 5 billion market quote messages per day.
• Bonds don’t trade in a vacuum…they work with ETFs, OTC derivatives, loans, FX, and futures. A Fixed Income EMS needs to handle much more than e-traded corporate bonds.
• 12% of surveyed managers have a FI EMS (vs nearly 100% of clients who have one for listed markets). 100% of surveyed trading professionals believe FI EMSs give them an edge wile trading (thanks to Kevin McPartland and Coalition Greenwich (a division of CRISIL) for the stats)
  

FI EMS adoption was a topic that featured in at least a half dozen panels. There were a few bizarre comments about trader resistance to adoption, which I found encouraging as they highlight why others have failed, and why Adroit has been winning.

Adroit is proud to be at the forefront of these developments. Our EMS rides on top of existing buyside OMSs, integrates with trader workflows, and has specialized in FI (cash AND derivatives) since onboarding our first clients in 2016. We are nimble, hungry, and this is all happening right now. Let’s talk.

PS – As good as we are in swaps, even more clients use Adroit for bonds than derivatives. Just sayin’

“We created Adroit in 2014 to handle complex, demanding OTC-heavy clients, and you’d be hard-pressed to find a client more influential or cross-asset than Invesco. Our conversations with clients tend to cut across swaps, bonds, futures and FX, and Invesco is one of the first investment managers to incorporate crypto into their business” said Greg Azrak, Head of Business Development at Adroit. “We couldn’t be more excited to work with Invesco and we look forward to helping them on their journey across global FICCC derivatives and cash markets.”

Integrated with Invesco’s upstream and downstream systems.

Invesco has engaged Adroit as EMS across its global trading centers and plans to facilitate its first trades over the next several weeks. 

About Adroit:

Since 2014, Adroit has offered the leading multi-asset front office EOMS solution, and empowers the most sophisticated of global investment managers. It is designed from the ground up to handle the intricacies of trading complex assets, including OTC derivatives, bonds, FX, and listed products. Adroit brings a passion to maximizing trader productivity while minimizing transaction costs. Our architecture features open APIs, for speedy implementation and maximum flexibility.

We know OTC. 

Read about it at PR Newswire

ATLANTA & NEW YORK–(BUSINESS WIRE)– Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced that ICE Bonds has connected with Adroit Trading Technologies, a premier order and execution management system (OEMS) for sophisticated over-the-counter-focused buyside traders. ICE Bonds’ fixed income over the counter marketplace will provide Adroit users with deep liquidity and price discovery across multiple protocols, including portfolio trading, request for quote (RFQ) and click-to-trade.

“As fixed income markets continue to become more electronic and automated, market participants are searching for a combination of access to liquidity and an advanced execution platform,” said Peter Borstelmann, President of ICE Bonds. “Adroit’s trading technology provides seamless visibility and access to our leading data, analytics and liquidity pools, all in one consolidated view, which is a big benefit for our customers.”

Adroit’s technology enables buyside traders to identify relevant OTC liquidity, streamline complex workflows, and trade electronically across dealers and liquidity pools. ICE Bonds’ commitment will now provide the Adroit community further access to fixed income liquidity and data to trade more efficiently.

“With its broad asset class coverage and execution protocols, ICE Bonds has a diverse customer footprint, and the addition of these venues will drive trading opportunities for our mutual buyside clients, across corporate and muni bonds,” said Anil Jaglan, Founder of Adroit. “Adroit’s EMS clients have been asking for further integration of unique pricing and liquidity sources, and we’re pleased to add comprehensive access to the ICE Bonds’ trading platforms.”

For more information about ICE Bonds, please visit: https://www.theice.com/fixed-income/ice-bonds.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 — Statements in this press release regarding ICE’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE’s Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE’s Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.

About ICE Bonds

Securities products and services are offered through ICE Bonds Securities Corporation or ICE Bonds, member FINRA, MSRB, NFA and SIPC. The information found herein, has been prepared solely for informational purposes and should not be considered investment advice, is neither an offer to sell nor a solicitation of an offer to buy any financial product(s), is intended for institutional customers only and is not intended for retail customer use.

Evaluated pricing (including fixed income evaluations), continuous evaluated pricing, end-of-day evaluations, and Fair Value Information Services related to securities are provided in the US through ICE Data Pricing & Reference Data, LLC and internationally through ICE Data Services entities in Europe and Asia Pacific.

SOURCE: Intercontinental Exchange

ICE-CORP

Read about it here: Intercontinental Exchange – ICE Connects to Adroit’s Execution Management System (theice.com)

Who’s Greg?

• Most recently led J.P. Morgan’s global spread e-commerce as a product manager, and then as sales manager.
• Prior to that, he managed sales teams and client relationships in credit fintech, futures and options, and OTC derivatives clearing.

Why Adroit’s founder Anil Jaglan knows he’s a fit:

• “We have worked with Greg in his prior role on behalf of numerous mutual clients, and his relentless focus on doing the right thing for his clients impressed us greatly. With his integrity and personality, he has built high-quality relationships with buy-side, sell-side and other market participants over the last 20+ years. His deep understanding of workflows for large long-only and levered fund managers is a very natural fit with our product strategy. We look forward to working together to grow our footprint and deepen our client relationships.”

Why Greg chose Adroit:

• “I hope to bring further perspective and my passion for solving buyside traders’ problems. I’m thrilled to work with such an innovative, nimble, motivated team, and to help build on Adroit’s success with OTC-focused asset managers.”

Why Adroit is the leading buyside OTC O/EMS, since starting in 2014

• Adroit’s discriminating client base handles the intricacies of trading bonds, swaps, swaptions, loans, and FX, alongside the “basics”…equities and futures.
• We maximize trader productivity and opportunities, and minimize transaction costs, regulatory and operational risk.
• We integrate quickly and intelligently with clients’ existing systems.

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Contact: sales@adroit-tt.com, 203-406-7150