For Boston Prime Managing Director Mitch Eaglstein, an elevated set of responsibilities has arisen with today’s announcement to Forex Magnates that he has assumed the position of Managing Director of Boston Technologies’ FX eCommerce division.
Mr. Eaglstein will retain his existing leadership position at Boston Prime, whilst taking on his new posting as an additional responsibility.
George Popescu, CEO of Boston Technologies explained the appointment in finer detail to Forex Magnates today, “Mr. Eaglstein will be taking a pro-active role in working our partners & clients as he is now responsible for the growth of BT’s entire institutional business. In addition, he will continue as Managing Director of our FCA regulated prime brokerage division.”
A respected senior figure with extensive knowledge pertaining to the prime brokerage sector, Mr. Eaglstein also serves as an expert in this particular field within the Forex Magnates Meet The Experts forum, as well as a well-respected moderator of discussion panels at the prestigious iFX EXPO events.
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Indeed, on January 22, Mr. Eaglstein is scheduled to moderate the first panel of the day at the iFX EXPO in Macau, which focuses on which FX product is becoming hot property in the Asia-Pacific region.
With regard to the new position, Mr. Eaglstein today demonstrated his intention to take the company’s institutional business forward as a result of his new position: “I am responsible for growing BT’s FX eCommerce department, eCommerce being our Institutional Trading division where clients trade on credit instead of margin,” he said.
“In this capacity we act in a similar way to Lucid markets by providing unique liquidity as a Non-Bank provider,” Mr. Eaglstein continued. “We are already integrated as a liquidity provider on venues including Integral, GAIN GTX, Currenex, HotspotFX, FXAll and First Derivatives, so it is simple for clients of these venues to add BTPrime FX eCommerce as an LP.”
“We also have direct API connections with certain clients that do not use one of these popular venues and have all in house technology supporting our liquidity offering. Firms can post margin at their existing prime broker and trade with us via 4 way give up agreements. We have a robust technology infrastructure in London, Tokyo, New York/New Jersey (Equinix) and have a sophisticated quant team which optimizes our pricing. We are able to provide granular liquidity solutions tailored by currency pair, trading style, trade size, venue and client to meet the liquidity needs of our trading partners,” he concluded.