Trayport’s chief technology officer Colin Macandrew has left the company as the derivatives tech vendor works to help clients comply with the new European trade reporting rules, writes Joe Parsons.
London-based Macandrew has left the firm with immediate effect according to two sources close to the firm, one of which said he left by mutual agreement.
A spokesperson for Trayport declined to comment on Macandrew.
The announcement of Macandrew’s departure comes at a crucial time for Trayport as the trading solutions firm works to ensure its clients can meet their new trade reporting obligations.
The European Market Infrastructure Regulation (Emir) trade reporting rules came into force on February 12, and now traders are required to report all derivatives transactions to trade repositories that hold records of all derivatives trade data.
Trayport’s Complete is an integrated execution and regulatory compliance solution designed to enable Trayport’s customers to meet the Emir requirements.
Macandrew left the technology company after working there for 15 months, in which time he was responsible for all of Trayport’s software developments.
He joined the company in December 2012 as a development specialist with over 20 years of experience in delivering trading systems.
Before joining Trayport, Macandrew worked as a programme lead at the Financial Times.
In 1992 he joined Swiss bank UBS as a senior design architect for its FX/precious metals trading systems before leaving in 1999.
Since then he has also held roles as global equity markets technology director for Macquarie Bank in Sydney and as a senior consultant at Thoughtswork, a global software delivery and products company.
Trayport is owned by GFI Group, the international inter-dealer broker specialising in over-the-counter derivatives and related securities.