Theta Trading Technologies, a London headquartered financial service provider known for its specialist services relating to buy-side trading technology recently revealed the addition of a new executive to its senior-level executive committee. As per statement released by the firm, it has hired Mr. Peter Meddemmen to serve as its Chief Technology Officer. The incoming executive is a veteran with nearly 24 years of experience in the financial services industry and is a renowned technologist with expertise in wide array of services ranging from Capital Markets managing technology to risk, legal and regulatory frame works. As the Chief of Technology division, Peter will be responsible for all aspects of technology and tech related delivery at the firm. His appointment at the firm comes at a crucial time as Theta Trading Tech moves towards launch of new products later this year.
Over the course of last nine months, the firm has been working on its next gen cloud native multi-asset trading technology blueprints and prototype which have been validated by various industry experts and leading asset managers, equivalent to $5 trillion AUM. Later this year, sometime in summer 2020 the firm is set to launch multi-asset O/EMS service for the busy-side based firm. Peter started his career as a Technical Manager at Financial Services Division in ADP and served at the firm for three years post which he moved on to Thomson Reuters Financial division (ILX) where he served as Vice President of Technology. He then served at GL Trade (now owned by FIS) a France based firm that provided software solutions for financial intermediaries and brokerage houses in the roles of interim Managing Director and Technical Director for six years. He also served in two other firms – ITRS and City Index where he held the roles of MD & CTO in early phase of his career post which he spent more than a decade serving in Bloomberg as part of its business development – OMS & Trading Systems division.
Speaking about Peter’s addition to the firm, Abdullah Hiyatt, Founder & CEO of THETA commented, “Peter has a wealth of domain and technology expertise to drive our engineering capability as we prepare for our platform launch and execute our innovation strategy. He complements our growing team of senior industry experts that includes Co-founder and Head of Product, Paul Wallace, former Head of Fixed Income Dealing at Aviva Investors”.
Commenting on his new role at the firm, Peter said, “I am delighted to be joining THETA and to be part of a fantastic team. The post regulatory financial market and the implied costs have seen institutions forced to change their business model, a model which THETA fits perfectly. I am hugely excited to be part of this ‘wind of change”.
