Sucden Commences STIR Market Making

Following the completion of its acquisition of Atlantic Trading earlier this year, Sucden Financial says it has now started making markets for ICE Futures Europe’s short-term interest rate (STIR) options.

The new service is managed by Sucden Financial’s interest rate options team, which the firm says is now fully integrated following the acquisition of the trading, IT, and IP assets of Atlantic Trading.

“After a decade of zero interest policy, we are excited to engage in an environment where the distribution of terminal rates has changed dramatically,” says Amik Sokhey, senior options trader at Sucden Financial.

Marc Bailey, CEO of Sucden, adds, “The purchase and integration of Atlantic Trading have enabled us to rapidly enter a new business area at an attractive time, leveraging our existing infrastructure and exchange memberships. In addition, this bolt-on acquisition exemplifies our strategy of identifying and capturing opportunities in complementary services that enable us to grow our revenue streams incrementally.”