GTX Onboards Edward Brown to Head Up Swap Execution Facility

Brown’s appointment is part of the company’s strategy to increase focus on solutions as regulation reshapes the FX market.

GTX, the institutional foreign exchange trading arm of GAIN Capital Holdings, has announced the appointment of Edward Brown as Chief Executive Officer of GTX SEF, a Swap Execution Facility.

Brown’s appointment is the latest in a series of additions at GTX. Back in August, the company hired industry veteran Thomas Reichel as Director of Institutional Sales, bringing on board 20 years experience in the foreign exchange industry, as reported by Finance Magnates.

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Brown brings to this role over 25 years’ experience in the financial services industry. He previously headed strategic initiatives at EBS BrokerTec, as well as serving in a variety of senior roles within ICAP’s electronic trading division.

Regulatory Focus

During his tenure at ICAP, Brown focused on regulatory matters related to OTC derivatives with a particular emphasis on the Dodd Frank Act and served as a Board Member of the Wholesale Market Brokers’ Association Americas.

Prior to ICAP, Brown headed new business development at BrokerTec, which was acquired by ICAP in 2003.

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Commenting on the latest appointment, Vincent Sangiovanni, Director of GTX SEF, said: “We are thrilled to have Ed join our team, especially at this key time when regulation is reshaping the FX markets. We look forward to supporting clients with the SEF and other solutions to enable them to compete effectively in the new trading paradigm.”

Swap Execution Facility

GTX launched its SEF in 2013 at the request of clients seeking to trade non-deliverable forwards (NDFs) on a CFTC compliant platform. It was granted full SEF registration in May 2016 after operating under temporary registration status for over two years.

In addition to SEF and ECN electronic venues, GTX provides anonymous, ‘voice’ agency execution services through GAIN GTX, a US CFTC provisionally registered swap dealer.

Brown added: “I am excited to be joining the GTX team and work with both clients and staff to deliver highly innovative and intuitive solutions for the evolving FX trading, clearing and regulatory landscapes. GTX’s unique ecosystem of electronic trading venues and voice agency execution services provides tremendous value to institutional FX traders and I look forward to driving the business forward.”

 

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