Finance Magnates sat down with the CEO of Instimatch, Daniel Sandmeier and Michael Schmidt, the Executive Chairman of the firm.
Instimatch Global, a digital network for institutional money market borrowing and lending, has been rapidly expanding its operations. The firm was established only two years ago and already has offices in Switzerland and Germany and very recently, opened its doors in Amsterdam.
The unsecured money markets industry is one of the least digitized parts of the financial markets. This is despite a more than 100 billion euro turnover per day in Europe alone. According to Instimatch Global, the market is still heavily reliant on voice brokerage and bilateral relationships, which means traders don’t have larger access to Liquidity across the market.
Instimatch has a number of ideas on how it plans to overcome these obstacles, so Finance Magnates sat down with CEO, Daniel Sandmeier, a former Credit Suisse executive and Michael Schmidt, the Executive Chairman, co-founder of fixed income fintech firm, Algomi.
Can you tell me a bit more about what you do at Instimatch Global? What’s the firm’s main focus?
Daniel - The company was started roughly two years ago by a former broker and two former traders - both with a background in short-term interest rate, government bonds, and fixed income.
The idea stems from the financial crisis. When liquidity collapsed between banks, our founder Hugh Macmillen felt that he wanted to build a platform where on a greater scale he could onboard institutional treasurers, be it from banks, corporates, asset managers, money markets funds, larger family offices, etc.
What we're really building right now is a network of institutional treasures across sectors and geographies. As you have seen, we've opened in Amsterdam, and have a growing presence across continental Europe, particularly Switzerland and Germany. We're about to take the next steps into the UK which is one of the reasons we're also here starting to create awareness around our offering.
So really what we're building is an unsecured money market trading platform for institutional treasurers. I think, the beauty of it really, is that the unsecured money market is one of the least digitized parts of the financial markets, whilst still being a very important piece of the infrastructure. It provides liquidity to where it is most needed.
Currently, the market is still heavily reliant on voice brokerage and bilateral trading relationships. Revealingly, almost half of all money market transactions are typically transacted within a single country. They don't go cross-border, and roughly a third of all transactions are still being either arranged by a voice broker or by bilateral connections.
Today, if you reach out to a handful of brokers, you're only exposed to a smaller number of potential counterparties whereas our mission is clearly to grow our network into the hundreds of counterparties, which will open up a larger number of trading opportunities. The power of a digital network then deepens liquidity, increases the likelihood of execution, diversifies counterparty risk and reduces spreads. But market data is also an important by-product of such a network and makes it easier to determine market rates for lending and borrowing in different currencies.
You recently opened an office in Amsterdam, when do you expect to start your operations in the UK?
Michael: It is definitely our aim to start in London as soon as possible. We've decided we want to be global, to start at least European. But the next step that we will immediately do is the UK.
Do you think Blockchain could be used to improve the way the money markets work?
Michael: Yes, we think it could, and we are exploring this area.
Can you tell me about your executive team? Are you planning on adding any more additions to your team soon?
Daniel: Instimatch was started by three people. They managed to get the first trades done and get the first 20 plus clients on board. Since then, we’ve added several people including Michael, myself and Lamine Brahimi on the board, Roel Schuring as a sales representative in Holland. It’s all part of the growth plan.
We recently secured fresh funding and really are on a growth path right now, expanding a cross-border trading network in Europe. Therefore you’ll see us hire a number of salespeople for the UK and the rest of Europe in the coming weeks and months.
Instimatch Global, a digital network for institutional money market borrowing and lending, has been rapidly expanding its operations. The firm was established only two years ago and already has offices in Switzerland and Germany and very recently, opened its doors in Amsterdam.
The unsecured money markets industry is one of the least digitized parts of the financial markets. This is despite a more than 100 billion euro turnover per day in Europe alone. According to Instimatch Global, the market is still heavily reliant on voice brokerage and bilateral relationships, which means traders don’t have larger access to Liquidity across the market.
Instimatch has a number of ideas on how it plans to overcome these obstacles, so Finance Magnates sat down with CEO, Daniel Sandmeier, a former Credit Suisse executive and Michael Schmidt, the Executive Chairman, co-founder of fixed income fintech firm, Algomi.
Can you tell me a bit more about what you do at Instimatch Global? What’s the firm’s main focus?
Daniel - The company was started roughly two years ago by a former broker and two former traders - both with a background in short-term interest rate, government bonds, and fixed income.
The idea stems from the financial crisis. When liquidity collapsed between banks, our founder Hugh Macmillen felt that he wanted to build a platform where on a greater scale he could onboard institutional treasurers, be it from banks, corporates, asset managers, money markets funds, larger family offices, etc.
What we're really building right now is a network of institutional treasures across sectors and geographies. As you have seen, we've opened in Amsterdam, and have a growing presence across continental Europe, particularly Switzerland and Germany. We're about to take the next steps into the UK which is one of the reasons we're also here starting to create awareness around our offering.
So really what we're building is an unsecured money market trading platform for institutional treasurers. I think, the beauty of it really, is that the unsecured money market is one of the least digitized parts of the financial markets, whilst still being a very important piece of the infrastructure. It provides liquidity to where it is most needed.
Currently, the market is still heavily reliant on voice brokerage and bilateral trading relationships. Revealingly, almost half of all money market transactions are typically transacted within a single country. They don't go cross-border, and roughly a third of all transactions are still being either arranged by a voice broker or by bilateral connections.
Today, if you reach out to a handful of brokers, you're only exposed to a smaller number of potential counterparties whereas our mission is clearly to grow our network into the hundreds of counterparties, which will open up a larger number of trading opportunities. The power of a digital network then deepens liquidity, increases the likelihood of execution, diversifies counterparty risk and reduces spreads. But market data is also an important by-product of such a network and makes it easier to determine market rates for lending and borrowing in different currencies.
You recently opened an office in Amsterdam, when do you expect to start your operations in the UK?
Michael: It is definitely our aim to start in London as soon as possible. We've decided we want to be global, to start at least European. But the next step that we will immediately do is the UK.
Do you think Blockchain could be used to improve the way the money markets work?
Michael: Yes, we think it could, and we are exploring this area.
Can you tell me about your executive team? Are you planning on adding any more additions to your team soon?
Daniel: Instimatch was started by three people. They managed to get the first trades done and get the first 20 plus clients on board. Since then, we’ve added several people including Michael, myself and Lamine Brahimi on the board, Roel Schuring as a sales representative in Holland. It’s all part of the growth plan.
We recently secured fresh funding and really are on a growth path right now, expanding a cross-border trading network in Europe. Therefore you’ll see us hire a number of salespeople for the UK and the rest of Europe in the coming weeks and months.
Beeks Group Appoints Adam Bradley as Head of Sales for the Asia-Pacific Region
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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