One of the leading providers of software and services for foreign exchange brokerages, MarketFactory, announced that it has appointed Steve Toland as its Vice President of Sales. Mr. Toland will be focusing on continuing the global expansion of MarketFactory’s market access and limit monitoring technologies.
Mr. Toland joins MarketFactory from the LMAX Exchange, where he was Head of LMAX Interbank and played an important role in the creation of the company’s interbank liquidity pool. He has previously held senior sales roles at ICAP’s EBS and Thomson Reuters.
MarketFactory’s COO, Darren Jer, shared on the company’s blog “With Steve’s market knowledge and client service ethic, we’re fully expectant that he’ll help our clients be even more successful in their trading.”
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Mr. Toland commented on his appointment, “MarketFactory is a dynamic business with a growing number of buy-side and bank customers which are increasing their focus on preventing naked access. This is the right time for this business to expand significantly so I’m honored to be joining the team for the next stage of their growth.”
As FX markets have become increasingly fragmented over the recent years, MarketFactory has delivered solutions to address concerns over how to manage risk effectively, including innovative pre-trade risk controls that prevent so-called “run-away algos”. Its real-time Limit Monitor enables clients to use one net open position (NOP) measure across all venues with minimal impact on latency.
The CEO of MarketFactory explained, “Institutions across the buy- and sell-side recognize the need to access an increasingly fragmented market yet maintain full control over trading limits. Our innovative safety controls allow clients to manage risk in real-time, and we’ve seen significant growing interest in this new service. Steve will be instrumental in taking MarketFactory to the next level and ensuring we deliver the best customer experience.”