Institutional trading network Liquidnet has appointed a former BGC Fenics managing director to head up its newly expanded fixed income division.
Nicholas Stephan joins Liquidnet as its new global head of fixed income product, services, and dealer relations from electronic corporate bond trading venue, Fenics DeltaX.
Prior to joining BGC’s Fenics DeltaX, Stephan co-founded and lead hybrid voice and electronic boutique broking business, Phoenix Partners Group, that was acquired by GFI in 2013.
Based in New York, he will be responsible for developing Liquidnet’s primary and secondary market fixed income offering including new trading protocols, governance, and access to liquidity.
The institutional trading network has made several senior hires across Europe, the Middle East and Africa (EMEA) and the Americas in a bid to expand its fixed income focused team following its acquisition by TP ICAP in March earlier this year.
“Liquidnet Fixed Income is in an exciting phase of growth and development. Building on Liquidnet’s capabilities in primary and secondary markets, Nick’s expertise will help us to enhance our offering and achieve our goal to electronify the full life cycle of a bond,” said Mark Russell, global head of fixed income at Liquidnet, whom Stephan will report directly to.
Liquidnet has significantly expanded the remit of its fixed income offering since its acquisition by TP ICAP this year including the launch of its Liquidnet Primary Markets product in September as part of its ongoing aim to create and end-to-end workflow solution for the full lifecycle of a bond.
The new offering will provide an electronified debt capital markets (DCM) workflow for new issue announcements alongside a new protocol for trading new issues.