Trading Technology 30: Mark Beeston
Chief Executive Officer, Posttrade Risk
The race to keep up with the data and analytical demands of electronic trading is no less intense at the back, or posttrade, end of the processing cycle. The difference, says Mark Beeston, CEO of London-based interdealer brokerage ICAP’s posttrade risk business, is that technological advancements in his realm are targeted not at “helping machines” trade at lightning speed without human intervention but rather at “helping humans” streamline such processes as reconciliation and risk management. ICAP’s posttrade business unit — including the Reset and ReMatch risk mitigation services and credit derivatives infrastructure subsidiary TriOptima — produced £99 million ($154 million) of revenue for the six-month period ended September 30, 2011. That figure represented a 10 percent year-over-year increase, while ICAP’s total revenue of £867 million was unchanged. Beeston, 40, is bullish about further growth because, he says, ICAP is well positioned to help clients deal with “an unprecedented amount of regulatory change in an unprecedentedly short time.” A former COO of global credit trading at Deutsche Bank and a longtime London resident, Beeston joined ICAP in 2009 after four years as president of T-Zero, a pioneering over-the-counter posttrade platform now owned by IntercontinentalExchange and rebranded as ICE Link. Last March he announced the launch of Euclid Opportunities, an ICAP incubation fund to stimulate innovation in posttrade technologies.