24 Exchange, the over-the-counter (OTC) platform established by Fastmatch Founder, Dmitri Galinov, has significantly expanded its team with three new hires. Michael Serpa joined the firm as the Global Head of Liquidity Management, Cristian Arellano as the Vice President of Andean Market, and Keith Sedergreen as a Consultant to cover sales in the Australia-Asia region.
Operated by 24 Exchange Bermuda Limited, the platform was established last year after Galinov sold Fastmatch in 2017 for $153 million. Though it is based in Bermuda, it is not regulated by the Bermuda Monetary Authority and is fully compliant with the FX Global Code.
The latest hiring of the key executives shows the company’s ambitions of expanding its services and regional reach.
Industry Experts Joining the Team
Serpa joined the firm from Edgewater Markets, a trading industry technology provider, where he served almost six years. He held several roles in the company over the years and parted as its Global Liquidity Head.
Before that, he was the Financial Representative at Northwestern Mutual and also spent over a year at Daversa Partners in Executive Recruiting.
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Arellano is another industry veteran with more than 15 years of working experience in finance and brokerage. He runs a real estate investment company and has previously worked with the GFI Group as a Senior LATAM Derivatives Broker/Sales Trader, according to his Linkedin profile.
In addition, he spent several years at BGC Partners and Tullett Prebon in similar roles.
He started his career in 2001 as an FX trader and later headed the Chilean desk of Icap Securities.
Sedergreen is another former BGC and Tullett Prebon executive. Alongside his role at 24 Exchange, he is the President of ACI Australia. Moreover, he spent over seven years as a Managing Director at the Australian wing of BGC Partners and Tullett Prebon. Furthermore, he was the Managing Director at ICAP Australian and several other firms.
The appointments came when 24 Exchange is expanding its product line. The company originally offered FX NDFs and later expanded its services with interbank FX Swaps as well.