Skagen, Cedar Rock Capital and Jefferies have joined the Plato Partnership as Founder Members, linking up with a swathe of asset managers and investment banks seeking to develop equities market efficiencies in areas such as executing trades that can benefit buy and sell side participants alike.
Other Plato Partnership members include Axa Investment Managers, Baillie Gifford, BlackRock, Deutsche Asset Management, Fidelity International, Franklin Templeton Investments, J.P. Morgan, Norges Bank Investment Management, Union Investment, Barclays, Bank of America Merrill Lynch, Citi, Deutsche Bank, Goldman Sachs, Morgan Stanley, and UBS.
The Parternship constitutes three working groups: Turquoise Plato Expert Group (TPEG), Market Innovator (MI3), and the Plato Strategic Initiatives Group (PSIG).
Structured as a not-for-profit company, the partnership’s members are looking for ways to cut trading costs and simplify the market structure. MI3 is the research fund that intends to sponsor research and analysis that in particular will address the search for lower trading costs and improved execution processes. MI3 in turn relies on pitches that come its way via the Plato Lab as well as an Academic Advisory Board. There is also an Incubation Lab, which feeds through suggestions for improved market structure for consideration by PSIG.
More broadly, beyond membership in the Partnership, there are also so-called Plato Partners, including BBVA Asset Management, Capital International Ltd, part of the Capital Group, Commerzbank AG, Instinet Europe Ltd, Legal & General Investment Management, Macquarie Group, RBC Capital Markets, Rosenblatt Securities Inc., Standard Life Investments Limited, and T. Rowe Price.
Further information on Plato is available at www.platopartnership.com