Danish-based outsourced trading provider, Sherpa Edge, has confirmed it is in final negotiations with its first customer, a Danish asset manager, with which it expects to go live after the summer.
Sherpa Edge, which is partnered with French outsourced trading provider, Exoé, specialises in the Nordic markets, and reports reverse interest in Exoé's services from neighbouring Sweden.
Increased interest in best execution has become a focus by Nordic authorities, in a region where portfolio managers often still trade directly in the market, despite recent reprimands by regulators.
The firm also reports that trader, Frank Lynge Jensen, has opted to leave the firm.
“We thank him for his valuable input, and wish him the best of luck in his new role,” wrote CEO Brett Chappell in a statement.
A former emerging markets specialist, Lynge Jensen has not announced his new position. One possible gap is at Danske Bank Asset Management, which lost its four-person EM fixed income team of Bent Elvin Lystbaek, Jacob Ellinge Nielsen, Thomas Haugaard and Sorin Piră to Janus Henderson, which they will join in September 2022. Lynge Jensen’s replacement has not been announced.
©Markets Media Europe, 2022
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