Veteran senior industry executive Viral Tolat has been appointed as CEO of TradAir. During his 25 years in the industry, he has been serving as CTO at Integral Development Corporation and was most recently CTO at EBS Dealing Resources. Mr. Tolat will be based in the New York City area.
During his expansive career in the industry, Tolat was responsible for the key technological developments at two of the main electronic trading venues for foreign exchange. His move to TradAir comes as the firm has been looking for a new CEO for a little less than a year after co-founder Illit Geller stepped down in June 2017
The provider of cloud-based trading technology solutions has been aiming to find a suitable executive since then, while the other co-founder of the firm, Ayal Jedekin, was overseeing operations until the perfect fit was found.
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TradAir has solutions for liquidity and market surveillance and has signed deals with major bank and brokerage customers across the globe.
Viral Tolat was the co-founder of Integral Development Corporation. As he was leaving the company to join EBS, the parties entered into a legal fight that yielded years of court case appeals. Viral first won a summary judgement on all claims based on evidence and facts and also won judgement against Integral on his claims.
Integral appealed to ninth circuit, which only stated that certain claims of the case should go to trial, and offered no opinion on whether Viral did anything wrong. Integral did not appeal the claims won against them. The case was finally settled out of court last year. The company was in a dispute throughout 2016 and lost a District Court case on the matter.