Specialist derivatives consultancy, Contango Markets, is launching a new unit, 'Contango Operations', to help tackle many of the pre- and post-trade issues affecting market participants as the implementation phase resulting from years of discussion over regulatory change is set to hit the financial markets.
'We have always recognised that the product and business development work we undertake doesn't go on in a vacuum, ' says David Setters, Senior Associate and Head of Business Development, at Contango Markets. 'Virtually all of the projects we undertake impinge in some way on clearing, operational and compliance processes. The wealth of experience that our staff and associates have in the world of market infrastructure means that we are fully primed to offer expertise which will guide firms through the jungle of regulatory reform and aid their efforts to comply with it in a timely fashion.'
The new unit will offer the following -
• Post trade expertise in clearing and collateral management across a range of asset classes and clearing houses
• Analysis, integration and implementation of technology for ETD and OTC derivatives- front to back office - from complete system replacements through to trading platform upgrades, new product additions and amendments etc
• Ensuring compliance at business, trading and technology level - throughout the life cycle
• Advice on connectivity issues and efficiency in the front, middle and back offices and ensuring cost-effectiveness in technology use
• Expertise in transaction reporting through efficient technology
The team includes many well known names from the derivatives industry including Brian Cooke, previously President & CEO, Rolfe & Nolan USA Inc.; Richard Wilkinson, previously Director - Clearing & Infrastructure Sales RBC; Jonathan Cowan, previously founder of Eccoware and Global Head of Futures & Options at BGC and Steve Morris, previously Operations Manager at Sucden Financial.
'This immensely experienced team has a deep knowledge of derivative products throughout their lifecycle,' adds Setters. 'It also understands the operations, technology and regulation that sit alongside them. This means we can connect issues acronect issues across 'silos' to provide customers wittomers with a comprehensive development and support infrastructure. Crucially, in these times when budgets are under such severe pressure, we already have the knowledge and experience, so clients can rest assured we won't waste their money by learning on their time.'
Founded in 1999 by Managing Director, Clive Furness, former commodity trader and director of business/market development at both the LCE and LIFFE, the consultancy is already well known for a series of innovative product and business development projects for exchanges, brokerage firms, specialist IT vendors, market users and governmental institutions around the world.