AEGIS SEF Appoints New President Amid Continued Growth of Hedge Marketplace in Q2 2023
The Woodlands, TX, July 5, 2023 — AEGIS SEF, LLC (“AEGIS SEF”) today provided multiple updates on its financial counterparty (“Dealer”) participation, second quarter 2023 trading activity and new leadership for the SEF.
In the second quarter of 2023, AEGIS SEF saw another volume record. Quarterly volume increased by 13% over the previous quarter, due to increased Dealer and commercial end-user (“Participant”) presence on AEGIS SEF.
AEGIS SEF now has 20 Dealers and 350 Participants executing hedging transactions on its hedge marketplace. Each Dealer and Participant has signed definitive documentation to enable the execution of hedging transactions on AEGIS SEF.
AEGIS SEF is also pleased to announce the appointment of Chris Payne as the new President of AEGIS SEF. Payne was formerly the Chief Product Officer for AEGIS Hedging Solutions (“AEGIS HS”), the parent company of AEGIS SEF, where he led the creation of the AEGIS SEF platform. He replaces Justin McCrann, who will continue to serve on the AEGIS SEF Board.
“Chris has been actively involved in the development of our marketplace as Chief Product Officer, and he brings a wealth of technical and market knowledge coupled with extensive management experience to take the business to the next level,” said McCrann. “I look forward to continuing to support the growth of AEGIS SEF as a member of the Board.”
“I am excited to help AEGIS SEF build upon the work Justin and the team have already accomplished in launching our bilateral swap execution facility,” said Chris Payne, President of AEGIS SEF. “Recent volume records indicate material adoption of the platform. We are eager to help our Participants sustain that growth by leveraging modernized electronic trading in a way that benefits everyone in these markets. Participant feedback remains strong, and the record growth is supported by significant new Dealer interest in AEGIS SEF from a mix of counterparties, including registered swap dealers, integrated marketers, proprietary trading firms and hedge funds.”
In addition, AEGIS SEF recently listed new Products in Interest Rates, Aluminum, Diesel, Gasoline, Crude Oil Roll swaps, Swing swaps, and a range of Canadian Energy swaps to meet the needs of its growing constituency.
“As transaction volume grows, we are seeing an increase in the range of products traded on our hedging marketplace,” said Andrew Furman, Chief Compliance Officer of AEGIS SEF. “We are also expanding our geographic presence to include Canada in order to meet the hedging needs of commercial end-users and Dealers based there.”
For more information on AEGIS SEF or if you are interested in executing hedges on AEGIS SEF, please visit https://www.aegis-hedging.com/swap-execution-facility.
About AEGIS SEF
AEGIS SEF (U.S.) LLC, a subsidiary of AEGIS Hedging Solutions, is a Swap Execution Facility approved by the Commodity Futures Trading Commission (“CFTC”). AEGIS SEF operates markets for commodities and other instruments. AEGIS SEF offers a venue for trading in uncleared bilateral OTC swaps through a central limit order book (CLOB), request for quote (RFQ) system, and Offline Execution Functionality (OEF). For more information, please go to https://aegis-hedging.com/swap-execution-facility.
AEGIS simplifies commodity and environmental markets for companies who manage their commodity exposures and/or emission footprints. AEGIS has unmatched technology and expertise to deliver market insights, tailored hedge strategies, efficient trade execution, and full-cycle management of hedge positions – all designed for regulatory compliance. Building on its core energy hedging capabilities, AEGIS has recently completed four acquisitions to extend its expertise in environmental and metals markets, increase its analytics capabilities and fully integrate a SaaS E/CTRM software platform. AEGIS was recently named the industry leader in hedging solutions for a seventh consecutive year. To learn more, visit AEGIS’ website at www.aegis-hedging.com.