LedgerEdge has appointed Stefano Dallavalle is its new product director and Diederik Can Suchtelen as head of its Amsterdam office and EU sales, effectively immediately, The TRADE can reveal.

The new appointments join LedgerEdge as it looks to establish an EU multilateral trading facility (MTF) license in the Netherlands, subject to regulatory approvals, following its UK MTF authorisation last year.

As part of his new role, Van Suchtelen will lead LedgerEdge’s sales effort in the EU as part of the initiative.

He joins LedgerEdge from boutique trading firm SFI Markets – formerly STX Fixed Income – where he was responsible for the Northern European market.

Before that, Van Suchtelen held senior positions at ATC Financial Solutions and Wallich & Matthes, where he set up the asset back securities desk.

“LedgerEdge is advancing the fixed income market by addressing structural inefficiencies, making trading easier and more targeted for all participants by increasing access to new liquidity,” said Van Suchtelen.

“I look forward to working with the team to develop our expansion into Europe, which is a significant milestone for the firm”.

Alongside Van Suchtelen’s appointment, Stefano Dallavalle has been appointed as LedgerEdge’s new product director.

He joins from FlexTrade where he was responsible for its  European fixed income EMS strategy.

Prior to that, he served at MarketAxess in a variety of senior positions across European credit trading including workflows, automation and price discovery. While at MarketAxess, he also led the delivery of the first cloud-based all-to-all trading protocol at the firm.

“LedgerEdge is already delivering innovative trading technology in many ways,” said Dallavalle. “Together with the product management team I look forward to shaping a next generation product that will modernise the corporate bond market and deliver for our customers.”

The developments follow LedgerEdge’s US subsidiary, LedgerEdge Securities, being granted approval to operate as a broker-dealer and an alternative trading system (ATS) by the Financial Industry Regulatory Authority (FINRA) late last year. More recently it gained the same approvals from the Securities and Exchange Commission (SEC) in February.

LedgerEdge will launch as an MTF in Europe later this year and in the US as an ATS in 2024.

“As LedgerEdge moves towards further innovation in its product development and expansion in the EU, we are delighted to welcome Stefano and Diederik to the growing team,” said Kate Karimson, chief commercial officer of LedgerEdge.

“Stefano will play a central role in driving the expansion of our product portfolio and global presence, while Diederik’s impressive sales expertise and strategic leadership will be instrumental in his new position.”