Tradable Makes a Number of New Hires - Selects Patrick Mortensen as Chief Commercial Officer
- Open-ended trading platform provider for financial markets, Tradable, extended its senior management team. The firm has appointed Patrick Mortensen as Chief Commercial Officer, along with new developers.
Tradable, the world’s first apps-based Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. Read this Term for electronic trading in financial markets, has reported a number of developments including a new hire at its executive level. The Copenhagen-based firm has appointed Patrick Mortensen as its Chief Commercial Officer to spearhead developments as the firm enters a new era of growth. The move comes as Tradable crosses 24 months since inception and continues to compete in the fragmented retail trading platform arena.
Tradable extends its top management, apart from the appointment of Mr. Mortensen, Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Read this Term Magnates reports that Torben Melchior has been promoted as the new Chief Operating Officer, according to Mr. Melchior’s Linkedin profile he moved into the new role in June 2014, he was formerly the Head of Ecosystem at the firm.
Mr. Mortensen was a former Senior Manager at leading broker, Saxo Bank, where he worked in a number of senior roles, including, Regional Head of North America and Head of Institutional Business and Institutional Marketing. He joins Tradable with nearly a decade of experience in the Retail FX sector having vast experience at various managerial roles within sales, marketing and business development.
Patrick Mortensen, pictured, commented about his new role, “Over the past years I have seen a wealth of technology innovations within the FX space, and Tradable is definitely one of the most ground breaking and possibly market transforming technologies I have encountered. Along with many industry colleagues I have been sincerely impressed by the level of new thinking and high quality Tradable has brought to the FX space in such a short time. I am immensely looking forward to joining the great team at Tradable and playing a part in the continued success of the company.”
According to details issued in the company statement, he will be responsible for commercial strategy and development, with a focus on further accelerating the success of the Tradable offering. Jannick Malling, CEO of Tradable, comments in a statement: “Patrick Mortensen brings a wealth of industry experience and insight to Tradable which will be invaluable for our ambitious growth plans.”
With two new appointments at the ‘C’ level, Tradable also reports that it has extended its development team, in addition, the firm states that the enhanced team will be situated at its new Copenhagen headquarters. Tradable was unable to confirm the exact nature of the projects the new developers will be working on, however Forex Magnates believes it will be to extend the capabilities of the Tradable API, create apps and support third-party developers. On its job board the firm was looking for developers with the following skill set, knowledge of JavaScript, HTML5, CSS, in addition, experience with Java, Swing and JavaFX is preferred, but not required. “Our new appointments will enable us to accelerate our plans,” added Mr. Malling.
Tradable has strategically collaborated with financial services firms from across the globe since launching in 2013, with each broker having a stronghold in their respective market. Mr. Malling explains: “We have been selective about the brokers we have chosen to work with, and it has taken time getting the regulation right across various jurisdictions.”
The platform was first launched by TradeNext, a UK-based firm with a strong hold in India, in February 2013. Consequently, Tradable was selected by Japanese giant, Monex, Turkish bank, IS Investment and US listed broker GAIN Capital. Other providers include Valutrades, SVSFX, IC Markets and IronFX.
“Through the partnerships we have across the globe, we have realized that marketing Tradable to end-users presents a new and exciting opportunity, very different from that of other trading platforms. It provides a new dimension to brokers’ marketing efforts," states the firm's CEO.
The onboarding of Monex has been a significant development for Tradable’s international use among FX traders, Monex, one of the largest FX brokers in the world, has a large retail audience where it can cross-sell the platform. The Tokyo-based broker first launched the platform at the Forex Magnates Tokyo Summit 2013, sources close to the matter explained that the broker has been working with Tradable and local regulators to ensure that the platform meets the Japanese financial watchdog’s stringent measures. Senior executives of the Japanese broker will be speaking at the forthcoming Tokyo Summit, over 400 industry executives have registered for the Summit, registration is open for those who have yet to register.
Trading platforms in the retail FX market have been monopolized by the success and popularity of one terminal. However, after a number of issues affecting third party developers and the closed nature of the platform, the market has evolved to explore new technologies that provide flexibility and give users the ability to customise according to their needs. The open-ended or open source market in financial trading has grown over the last two years, both in the retail and institutional market, and is expected to be the new 'norm' in trading technology.
Tradable, the world’s first apps-based Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. Read this Term for electronic trading in financial markets, has reported a number of developments including a new hire at its executive level. The Copenhagen-based firm has appointed Patrick Mortensen as its Chief Commercial Officer to spearhead developments as the firm enters a new era of growth. The move comes as Tradable crosses 24 months since inception and continues to compete in the fragmented retail trading platform arena.
Tradable extends its top management, apart from the appointment of Mr. Mortensen, Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Read this Term Magnates reports that Torben Melchior has been promoted as the new Chief Operating Officer, according to Mr. Melchior’s Linkedin profile he moved into the new role in June 2014, he was formerly the Head of Ecosystem at the firm.
Mr. Mortensen was a former Senior Manager at leading broker, Saxo Bank, where he worked in a number of senior roles, including, Regional Head of North America and Head of Institutional Business and Institutional Marketing. He joins Tradable with nearly a decade of experience in the Retail FX sector having vast experience at various managerial roles within sales, marketing and business development.
Patrick Mortensen, pictured, commented about his new role, “Over the past years I have seen a wealth of technology innovations within the FX space, and Tradable is definitely one of the most ground breaking and possibly market transforming technologies I have encountered. Along with many industry colleagues I have been sincerely impressed by the level of new thinking and high quality Tradable has brought to the FX space in such a short time. I am immensely looking forward to joining the great team at Tradable and playing a part in the continued success of the company.”
According to details issued in the company statement, he will be responsible for commercial strategy and development, with a focus on further accelerating the success of the Tradable offering. Jannick Malling, CEO of Tradable, comments in a statement: “Patrick Mortensen brings a wealth of industry experience and insight to Tradable which will be invaluable for our ambitious growth plans.”
With two new appointments at the ‘C’ level, Tradable also reports that it has extended its development team, in addition, the firm states that the enhanced team will be situated at its new Copenhagen headquarters. Tradable was unable to confirm the exact nature of the projects the new developers will be working on, however Forex Magnates believes it will be to extend the capabilities of the Tradable API, create apps and support third-party developers. On its job board the firm was looking for developers with the following skill set, knowledge of JavaScript, HTML5, CSS, in addition, experience with Java, Swing and JavaFX is preferred, but not required. “Our new appointments will enable us to accelerate our plans,” added Mr. Malling.
Tradable has strategically collaborated with financial services firms from across the globe since launching in 2013, with each broker having a stronghold in their respective market. Mr. Malling explains: “We have been selective about the brokers we have chosen to work with, and it has taken time getting the regulation right across various jurisdictions.”
The platform was first launched by TradeNext, a UK-based firm with a strong hold in India, in February 2013. Consequently, Tradable was selected by Japanese giant, Monex, Turkish bank, IS Investment and US listed broker GAIN Capital. Other providers include Valutrades, SVSFX, IC Markets and IronFX.
“Through the partnerships we have across the globe, we have realized that marketing Tradable to end-users presents a new and exciting opportunity, very different from that of other trading platforms. It provides a new dimension to brokers’ marketing efforts," states the firm's CEO.
The onboarding of Monex has been a significant development for Tradable’s international use among FX traders, Monex, one of the largest FX brokers in the world, has a large retail audience where it can cross-sell the platform. The Tokyo-based broker first launched the platform at the Forex Magnates Tokyo Summit 2013, sources close to the matter explained that the broker has been working with Tradable and local regulators to ensure that the platform meets the Japanese financial watchdog’s stringent measures. Senior executives of the Japanese broker will be speaking at the forthcoming Tokyo Summit, over 400 industry executives have registered for the Summit, registration is open for those who have yet to register.
Trading platforms in the retail FX market have been monopolized by the success and popularity of one terminal. However, after a number of issues affecting third party developers and the closed nature of the platform, the market has evolved to explore new technologies that provide flexibility and give users the ability to customise according to their needs. The open-ended or open source market in financial trading has grown over the last two years, both in the retail and institutional market, and is expected to be the new 'norm' in trading technology.