FX electronic communications network (ECN) Spotex has added John Miesner to its leadership team as Global Head of Sales and Distribution.
Spotex is a US-based ECN focused on FX and precious metals trading for both the buy and sell side participants. Spotex offers exchange technologies that build and apply quantitative metrics to participants based on their trading behavior. Their client base includes banks, brokers, hedge funds, CTAs, and asset managers who leverage an array of electronic solutions that assist clients with complex liquidity sourcing and trade executions.
Spotex expects Miesner’s industry experience, which dates back to 2000, and deep relationships to strengthen its global sales capabilities as it looks to expand its reach and continue to build market share.
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A Lengthy Career within Institutional FX
Miesner joins the US-based FX ECN from GTX, an institutional foreign exchange trading platform. During his four-year tenure, John was responsible for GTX’s global ECN sales based out of New York. His leave marks the first senior staff departures to be announced since 360T agreed on a deal last year to buy GTX.
GTX was the FX institutional arm of GAIN Capital (NYSE: GCAP) until it was sold to Deutsche Börse Group via its FX unit, 360T, in June 2018. The largest retail broker in the US received net proceeds of $85 million while the total purchase price was $100 million.
Prior to Gain capital, Miesner was the head of sales at KCG Hotspot, parting ways with the forex firm after a period of 14 years working in a variety of senior roles. In 2015, KCG Holdings sold its foreign exchange trading platform, KCG Hotspot, to BATS Global Markets for $365 million in cash. Two years later, KCG Holdings itself was acquired by rival Virtu Financial for $1.4 billion, as tough market conditions forced high-frequency traders to consolidate and rethink business strategies.