Provider of electronic trading technology Orc today announced two additions to its newly formed market structure team, as the company seeks to respond to changes in the regulatory landscape.
Christer Wennerberg joins Orc from the SEB Group, whereas Magnus Hedin joins from Nasdaq.
The new team, to be responsible for adapting Orc’s platforms to upcoming regulatory changes, and launching a wider product and services offering for supporting clients affected by new European market regulations, including MiFID II/MiFIR, will be headed by Christer Wennerberg.
“The success we enjoy with the Orc Execution Bricks offering and the market changes tied to the new regulatory landscape make a strong case for accelerating our investment in technology for customer-driven business,” said Jonas Hansbo, Chief Strategy Officer, Orc Group.
“To match future requirements for products and services in this area, we have taken a strategic initiative to add functionality and expand Orc’s offering. This also calls for strengthening our organization. Christer and Magnus are key additions to our team, and they will be instrumental in our efforts to be the leading trading technology provider, as well as a trusted advisor.”
Prior to Orc, Christer Wennerberg was CTO Equities Trading Technology with SEB, where he headed the Electronic Trading Services Group responsible for algorithmic trading, smart order routing, execution strategies and market structure analysis. He has more than 25 years of experience in the area of market structure, regulation and technology within the equities market. Before joining SEB, he was Head of Fixed Income at OM Stockholm Exchange and before that, Head of Systems Development Exchange Systems at the Stockholm Stock Exchange.
“The implementation of MiFID II will lead to profound changes in European financial markets, and their structure,” said Christer Wennerberg. “For firms to stay competitive in the new regulatory landscape, their application of trading technology will have an even more critical function. Orc has the technology and the domain expertise to guide clients through the coming period of change.”
Magnus Hedin, former Head of Development Stockholm at Nasdaq, has more than a decade of experience from software and services delivery in the financial services sector. Before joining Nasdaq, he has held key positions with SEB, including responsibility for advanced trading strategies, best execution, and analysis of market structure.
“With the acquisition of Tbricks advanced technology, Orc has a unique position to deliver unmatched solutions tailored for the challenges presented by MiFID II,” said Magnus Hedin. “I am excited to be part of this journey.”
To view the official announcement, click here.