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Desk Active · London —

Liquidity,
broked independently.

Axtrade Ltd is an inter-dealer broker covering Delta One, equity financing, and structured products. We work the flow between Tier-1 investment banks and hedge funds, with selective coverage of asset managers and market makers across European markets.

Desk · Indices INDICATIVE
SX5E Euro Stoxx 50 6,062.07 −0.68%
CAC CAC 40 8,218.24 −0.32%
DAX DAX 40 24,759.05 −0.75%
FTSE FTSE 100 10,368.05 +0.07%
SMI Swiss Market Index 13,237.00 −0.51%
Cumulative Notional
£80bn+
Across European equity products since 2015
Operating Since
2015
Ten years through every market cycle
Counterparty Network
Tier 1
Investment banks · Hedge funds · Asset managers · Market makers
Coverage
24/5
European hours · London & Paris desks
01 · What we broke

Three desks, one execution standard.

Independent of bank balance sheets. Free of conflict. Focused on the products that demand senior, relationship-led broking — and the products where information edge matters most.

01 / DELTA ONE

Delta One

Index and single-stock equity derivatives, executed across European exchanges and OTC markets.

  • Index futures & TRS
  • Single-stock synthetics
  • Dividend futures & swaps
  • Basket trading & rolls
  • SX5E · CAC · DAX · FTSE · IBEX · OMX · SMI
  • Listed & OTC options
02 / EQUITY FINANCING

Equity Financing

The financing toolkit hedge funds, asset managers, and family offices need to operate with precision.

  • Equity repo
  • Stock loan
  • Synthetic financing
  • Collateral trading
  • Name-specific financing
  • Hot stocks coverage
03 / STRUCTURED

Structured Products

Bespoke equity solutions structured around the precise needs of the counterparty.

  • Custom basket trading
  • Bespoke equity derivatives
  • EFP & cross-product
  • Tailored hedging structures
  • Bank & HF structured mandates
  • Collateral structures
02 · How we work

A way of broking that
holds up across cycles.

Markets move. Counterparty stress comes and goes. What endures is how a desk handles the conversation. Axtrade is built on three principles that don't compromise.

PRINCIPLE 01

Independence

Not a bank desk. Not a screen-only platform. Axtrade acts strictly as an intermediary — on a matched principal, IDB or agency basis, depending on the market. We do not engage in proprietary trading and do not commit capital that could conflict with counterparty interests. The whole point of an inter-dealer broker, and what makes a true price possible.

PRINCIPLE 02

Discretion

Confidentiality is not a marketing line. It is the trade. Counterparties speak to us about flow they would not share with their primary broker — because they know it stays with the desk.

PRINCIPLE 03

Tenure

A decade building relationships through every cycle. Senior coverage with decades more in cumulative team experience. The kind of desk that picks up at any hour — because the relationship is older than the screen.

03 · Who we work with

Counterparties at the
core of European markets.

Axtrade is open primarily with Tier-1 investment banks and a selective group of sophisticated hedge funds. Coverage is relationship-driven, not transactional. New counterparties are onboarded carefully and reciprocally.

01
Investment Banks
Tier-1 sell-side coverage across Europe. Direct lines to the desks of every major bank we are open with. The core of the Axtrade flow.
02
Hedge Funds
A selective group of sophisticated funds with serious flow in Delta One and synthetic financing.
Asset Managers
Institutional buy-side engaged on structured products and hedging mandates.
Market Makers
Liquidity providers across listed and OTC equity derivatives markets.
04 · The desk

Senior coverage,
signed personally.

Founded in 2015. Ten years on, Axtrade is expanding its senior coverage in Delta One and synthetic financing — bringing decades of additional bank-side experience to the desk through 2026.

AB
Axel Beluche Founder
CEO · Equity Derivatives · Financing
Founded Axtrade in 2015. Background in equity derivatives, structured products, and cross-border financing. Builds the broader Axtrade group: Axtrade Ltd (broking) · ChatGuard (compliance & desk intelligence) · NatureBid (forest finance).
+
Senior Coverage · Delta One Joining 2026
MD-level · 30+ years sell-side experience
A senior managing-director-level broker with three decades of cumulative experience across Barclays, Nomura, HSBC, Bank of America and Société Générale is joining Axtrade to lead Delta One and equity financing coverage.
Desk · Composition Plan 2026
Founder & CEO ● Active
Senior Delta One Broker ● Joining 2026
Junior Broker ● Open role
Operations Lead ● Open role
WE'RE HIRING · 2026

Build the desk
that doesn't exist yet.

Axtrade is growing. We're looking for traders, brokers, and operations talent who want to build something serious — without the constraints of a bulge-bracket. If you're early-career and want to learn the markets from senior people who actually trade them, we want to talk.

Junior Broker · Delta One
Junior Broker · Equity Finance
Operations Analyst
Graduate Programme
Apply or introduce yourself
06 · Legal & Regulatory

Operated with the discipline
the market demands.

Axtrade Ltd operates exclusively with institutional and professional counterparties under the UK regulatory perimeter, with the policies, controls, and surveillance infrastructure expected of a wholesale broker in 2026.

Status & Authorisation

Axtrade Ltd is registered in England and Wales (Company registration 09684783). Registered office at 18 King William Street, London EC4N 7BP. The firm operates under FCA-supervised arrangements as an Appointed Representative of Capital Systematics Ltd, which is authorised and regulated by the Financial Conduct Authority (Axtrade FCA Number 716516). Legal Entity Identifier: 213800GKB3BIGB7HA682.

Eligible Counterparties Only

Axtrade Ltd's services are provided exclusively to Eligible Counterparties and Per Se Professional Clients, as defined under the FCA Handbook. We do not provide services to retail clients or to private individuals.

No Investment Advice

Nothing on this website or communicated by Axtrade Ltd constitutes investment advice, a personal recommendation, an offer to sell, or a solicitation of an offer to buy any financial instrument. Information is provided for institutional and professional counterparties only.

Best Execution & Order Handling

Axtrade Ltd takes all sufficient steps to obtain the best possible result for clients when arranging the execution of transactions, in accordance with our Order Execution Policy. A copy is available on request.

Conflicts of Interest

Axtrade Ltd operates as a pure intermediary. The firm does not engage in proprietary trading and does not commit capital that might otherwise conflict with counterparty interests. Organisational and administrative arrangements are maintained to identify, prevent, and manage conflicts of interest. Our Conflicts of Interest Policy is available on request.

Market Abuse Surveillance

Axtrade Ltd operates procedures to detect, prevent, and report suspicious trading and communications, in compliance with the Market Abuse Regulation (MAR). All written and Bloomberg-chat communications are captured and reviewed via ChatGuard, the Axtrade group's proprietary surveillance technology.

Confidentiality & Information Barriers

Client information is treated as strictly confidential. Robust information barriers are maintained between the desk and group operations. Communications are retained in accordance with regulatory requirements (minimum 5 years).

Risk Warnings

Financial markets carry risk, including the possible loss of principal. Counterparty, liquidity, and market risks may affect the outcome of any transaction. Past performance is not indicative of future results. Counterparties are responsible for their own independent assessment of any instrument and its suitability for their objectives.

Privacy & Data

Personal data is processed in accordance with the UK GDPR and the Data Protection Act 2018. Our Privacy Notice and Cookie Notice set out how we collect, use, and retain data, and are available on request or via the website footer.

Policies available on request
Order Execution Policy Conflicts of Interest Policy Best Execution Disclosure Market Abuse & Surveillance Policy Complaints Handling Procedure Privacy Notice Cookie Notice Modern Slavery Statement
05 · Open a line

Speak to the desk.

Looking for a price. Opening a new counterparty. Exploring structured business. The desk is reachable directly — we respond personally, on the day.

London Office
18 King William Street
London EC4N 7BP
United Kingdom
Hours
European hours · Mon–Fri
Bloomberg IB / MSG on request
Regulation
FCA-supervised
via AR arrangements