BroadPeak Expands UK Office to Expedite CME Migration
BroadPeak Partners, the leading purveyor of K3-driven real-time exchange trade data, regulatory and surveillance reporting, is expanding its London office in response to increased European demand. The firm has appointed Henry Rhodes to oversee UK and EU sales.
"There are some really important macro factors that make London an excellent choice for expansion. We are seeing strong growth across trade reporting, surveillance, exchange and trade integration," explained Gordon Allott, BroadPeak's President and Chief Executive Officer. "Henry brings nearly two decades' experience in sales and software-as-a-service business development. We are thrilled to have him come on board and oversee our efforts."
BroadPeak's expansion plans include collaborating with London Stock Exchange Group's UnaVista to help ease the transition for customers migrating from CME Group. CME announced it is to close its European trade repositories and reporting operations by November 30, 2020. BroadPeak's increased presence in the UK and EU will assist customers in the data transfer, report formatting, and other processes required to align their operations with the company's UnaVista-enabled K3 platform.
Commenting on the collaboration, Mr. Michael Leach, Managing Director of Global Business Development at UnaVista, said: "We are delighted to be working with BroadPeak Partners to support market participants in migrating their [EMIR and MiFID II] regulatory reporting from CME's [Nex and Abide] services to UnaVista."
Rhodes notes, "UnaVista is a logical choice for firms looking for a cost competitive technological alternative to CME and Abide. With our K3 technology, there is no need to change anything. K3 collects the trade data in any format and automatically transforms it to the UnaVista standard."
About BroadPeak: BroadPeak's flagship software system, K3, is used by some of the world's largest traders to meet global trade reporting obligations. K3 manages millions of trades across regimes including: EMIR, MiFIR, Dodd-Frank, Canada TR, FINRA and many others. Customers such as Cargill, Mercuria and more rely on K3 for global reporting. K3 by BroadPeak is the leading integration platform for the financial markets differentiated by; a low-code development model, builtin rules and decision engines, intuitive visual interface, robust enough to support the complexity of commodities and derivatives trading. K3 is an essential for those looking to do more with less.