Following almost ten years at ING bank, market structure expert Stephane Malrait has joined Etrading Software as chair of its industry stakeholder group (ISG) on the consolidated tape (CT), The TRADE can reveal.
He is set to begin his new role on 20 January and will be charged with ensuring user needs are fully represented in the CT.
Specifically, he will lead discussions within the ISG on functionalities, fee and licensing models and other tender process requirements.
Sassan Danesh, chief executive of Etrading Software, said: “We are delighted to have Stephane on-board and leading our stakeholder engagement activities. His leadership will be instrumental in the design of a high-quality tape.”
Malrait was most recently managing director and global head of market structure and innovation for financial markets at ING Bank, overseeing the financial market innovation strategies within the firm.
Before joining ING in 2015, he spent eight years at Société Générale, most recently working as global head of FIC eCommerce.
He also previously worked at JP Morgan Chase for ten years, serving in different roles in global FX eCommerce business management and cross-asset eCommerce technology, based in London and New York.
In December 2023, Etrading Software confirmed plans to bid to become the consolidated tape provider (CTP) for both the UK and EU. A move which followed the announcement that the Bloomberg, MarketAxess and Tradeweb JV was off the table.
Speaking to his appointment, Malrait, said: “The consolidated tape is going to be a major market structure change in the UK and Europe and will impact all market participants. It is important that the voice of the user community is represented to advice and give feedback to CT providers.”
The FCA is set to appoint a bond CTP early this year, with the EU planning for the end of the year.
Read more: ESMA launches first stage of bond CTP selection process
Malrait was nominated by The TRADE for the coveted Industry Person of the Year award at the 2024 Leaders in Trading event in London.
The recognition is designed to celebrate those individuals who have made a significant impact on their own organisation and, equally, the industry externally, with a commitment to bettering and future proofing the markets for years to come.