Parameta appoints head of benchmarks and indices with focus on ESG and rates

The company said building its benchmark and index offering will now be a key priority, with a particular focus on ESG and the rates space.

Parameta Solutions, the Data & Analytics division of TP ICAP, has appointed Anand Venkataraman as Head of Benchmark and Index Products Management following Financial Conduct’s approval as Benchmark Administrator last week. Authority of the United Kingdom.

Anand Venkataraman joins Parameta from Qontigo, part of Deutsche Börse Group, where he led the product management function for their indexing business.

During his career, he has held leadership positions in business and product development at Citi Fixed Income Indices and The Yield Book, as well as Barclays Risk Analytics and Index Solutions.

Parameta Solutions has been authorized by the FCA to operate as a benchmark administrator in an important step for the intermediary-broker, which will be the first to administer benchmarks and over-the-counter (OTC) indices. ).

Anand Venkataraman will join the team to help extend Parameta Solutions’ existing suite of benchmarks, with a particular focus on ESG and the rates space.

The company provides its clients with unbiased OTC content and proprietary data, as well as in-depth price discovery and risk management insights, alongside its existing TP ICAP Euro Rate Benchmark offering.

The company sees a significant gap in the market for independent benchmarks and aims to meet customer demands for unique and transparent data-driven insights.

The new Head of Benchmark and Index Products Management will focus on developing Parameta Solutions’ index solutions and services to give clients the access they need to this valuable information.

TP ICAP’s Data & Analytics division became an FCA-authorized benchmark administrator last week. It will take over the administration of the nine TP ICAP interest rate swap benchmarks which were previously administered by Moorgate Benchmarks Ltd.

The nine benchmarks, which cover all mid-priced interest rate swaps in TP ICAP’s global brokerage business, increase transparency for market participants for whom data-based knowledge is crucial, by particular for risk and compliance purposes. In particular, visibility on the level of the implied average price of the relevant underlying swap rate is essential for clients when adopting these benchmarks.

The company said building its benchmark and index offering will now be a key priority, with a particular focus on ESG and the rates space.

ICAP Information Services Limited, trading as Parameta Solutions, will assume all administrative responsibilities for benchmarks previously administered by Moorgate from 16 May 2022. Parameta Solutions is also compliant with the IOSCO Principles for Benchmarks financial.

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