Theta, a specialist provider of buy side trading technology as a service, appointed Peter Meddemmen as its chief technology officer (CTO).
Meddemmen has more than 30 years of experience in capital markets, managing technology for multi-asset solutions across the full order execution lifecycle, including front to back workflows, risk, security, legal and regulatory framework.
He joins from Bloomberg, where he held several senior positions in the trading solutions team since 2007. Previously, he held CTO positions at City Index and GL Trade (acquired by Sungard in 2009). Earlier in his career, Meddemmen was the VP for technology at Thomson Financial (now Refinitiv, jointly owned with Blackstone Group).
He will be responsible for all technology delivery, as the firm moves towards product launch later in 2020. Over the past nine months, Theta’s next generation cloud native multi-asset trading technology blueprints and prototype have been validated by industry experts and leading asset managers, equivalent to $5 trillion AUM, according to the firm.
Abdullah Hiyatt, founder and CEO, comments, “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.”
Meddemmen adds, “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’.”
Theta’s multi-asset O/EMS service for the buy side is expected to launch this summer.