FX Transparency Hires Joseph Conlan to Head Business Development

FX Transparency (FXT), which provides transaction cost analysis solutions for the FX industry, has secured Joseph Conlan to join its team as head of business development with immediate effect.

FXT’s offering helps institutional currency traders better monitor their transaction costs when trading foreign exchange markets. Conlan’s new destination enables FX investors to understand the Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term environment and manage volatility, which can help reduce trading costs and improve foreign exchange strategy.

Conlan joins the data analytics firm at a time when new regulations heightened conduct standards, while investors are also paying closer attention to their execution performance.

Best execution is also an important part of the Markets in Financial Instruments Directive II (MiFID II). Most of the debate in relation to best execution under MiFID II has focused on the requirements for firms to publish data on execution quality and to revise their relevant policies.

"Joe has the FX domain and marketing expertise to manage the rapid growth we're experiencing due to compliance mandates like MiFID II, PRIIPs, and the FX Global Code of Conduct," said John Galanek, FXT's CEO.

Crossing over crypto camp

Conlan jumps to FXT coming from San Juan Mercantile Bank & Trust International (SJMBT), a Puerto Rico-based startup catering to cryptocurrency traders, where he was its managing director of sales.

Joe joined the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term-focused firm barely a few weeks after he parted ways with Currency Mountain, where he worked as head of sales, Finance Magnates reported exclusively last year.

During his short stint with New York-based Currency Mountain, he helped expand the group’s portfolio of products, which spans several financial services companies. Currency Mountain owns and operates brands like retail FX broker FXDD, trading technology firm Forexware, analytics company TraderMade, and cryptocurrency firm Nukkleus Capital.

Prior to that, Conlan spent over a decade working at INTL FCStone. He joined the financial services giant as Global Head of FX Sales in 2007 from AM Rosenthal and also had stints at Currenex, Integral Development, CME, Cognotec, and EBS.

Conlan’s career in the FX industry dates back to 1994, where he originally served in EBS Dealing Solutions’ sales team. He spent four years with the commodities and FX trading technology provider before moving on to Congnotec – another trading solutions provider.

"FXTanalytics delivers sophisticated data-mining tools as a complement—not a replacement—to our expert consultations where actionable directives are prescribed to help our clients reduce trading costs," Conlan commented on his appointment.