Structured product technology firm Contineo nets a former HSBC derivatives technology veteran as its new chief technology officer.
Franck Lerat joins equity linked structured product communications network Contineo as its new CTO, following his most recent role as HSBC’s global head of equity derivatives IT where he was charged with digital transformation of its technology stack.
Lerat has more than 25 years of experience in equity derivatives technology. Prior to HSBC, Lerat spent most of his career with J.P. Morgan where he was last its co-head of equity derivatives IT.
Strong Growth Despite Market Woes
Despite market headwinds, Contineo registered strong momentum in its business which focuses on high speed structured product pricing (upon submission of request for quotations (RFQ), users can receive prices from 15 issuers in less than one minute).
Its boosted its number of buy-side users by 70 percent year-on-year which when combined with the addition of new payoffs resulted in a 30 percent increase in RFQs. Contineo projects that this will ultimately lead to a 20 percent growth in volumes translated on the platform. It also noted that a new private bank would be joining the Contineo network in the fourth quarter this year.
«Technology is more than ever at the core of our development plans to scale up the business with new platform features and new services available such as lifecycle module and enhanced analytics tools,» said Contineo CEO Antoine de Charnacé (pictured above).
«It is key to reinforce our position in Hong Kong and Singapore and support our customers' operations across the globe.»
