Sucden Financial has acquired the trading, IT and IP assets of Atlantic Trading London Limited, a proprietary market-making derivatives trading house.

Sucden made the deal with an eye on short term interest rates (STIR) and bond options as the multi-asset execution, clearing and liquidity provider announced it will officially request market maker status on ICE Futures Europe, with the intention of making markets on STIR contracts from September 2022.

Sucden adds a new interest rates and bonds capability

Atlantic Trading is a liquidity provider and market maker on interest rate and bond options, covering all European and select US interest rate markets.

Atlantic boasts a team of quantitative strategic traders that utilize in-depth trading analysis and high-end visual tools, providing market insight to develop trading opportunities. Four top executives – Fraser Dodwell, Amik Sokhey, Douglas Porter and Bastien Saltel – will join Sucden Financial as part of the deal.

Marc Bailey, Chief Executive Officer at Sucden Financial, commented: “We are delighted to have completed this transaction and welcome the team of skilled traders and IT professionals to Sucden Financial. They will add a new interest rates and bonds capability and complement our existing LME and FX options coverage.”

Sucden expands soft commodities business

In April 2022, Sucden Financial hired Michael Bell to expand its soft commodities business. He brings nearly 33 years of experience as a former LIFFE coffee and cocoa grader. Before landing at the multi-asset execution and clearing provider, he held senior roles at several banks and brokers.

Bell spent two decades with Société Genéralé in London as a director and broker in its soft commodities division. His career also encompasses different stints at ABN Amro, specializing in coffee and cocoa, and Merrill Lynch where covered various commodity markets.

He will focus on increasing Sucden Financial’s coffee futures and options brokerage business in London.

Established in 1973, Sucden Financial is a derivatives broker operating in a broad range of markets, including exchange and OTC traded financial and commodity futures and options, equities, and foreign exchange. Sucden Financial is part of Sucres & Denrées, which has a presence in over 30 locations worldwide.

Sucden Financial has recently partnered with Refinitiv to distribute market insights and premium in-depth investment research via their Eikon platform. Recently, the company announced multiple new hires in a bid to help expand its client base.

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