Foreign exchange trading platform developer TraderTools Inc. has announced that it is appointing Andrew P. Levine as the firm’s new CEO. He will also take a seat on the company’s Board of Directors. Before taking on his role at TraderTools, Levine has worked at the Bank of New York Mellon and most recently at Overstock’s subsidiaries SpeedRoute and tØ.
TraderTools is aiming to enter its next growth phase with an experienced figure at the helm as Levine joins co-founder and President Yaacov Heidingsfeld. The firm is committed to continue developing its platform that has already been recognized in the foreign exchange trading industry.
Levine joins TraderTools from SpeedRoute and tØ, which are tech-fused subsidiaries of Overstock (NASDAQ:OSTK) that have been focusing on routing of US equity orders and blockchain technology. Before that Levine held various positions at The Bank of New York Mellon (NYSE:BK) including Head of Global Product Management and EMEA Relationship Management for the American Depositary Receipt (ADR) Division.
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Levine also was at ConvergEx, which is an affiliate of The Bank of New York Mellon, while serving as an Executive Committee member. He helped the growth of the ADR Brokerage businesses to over 100 clients that have been accessing markets in 35 countries.
Commenting on the new hire, the General Partner at Edison Partners, Joe Allegra, who is an investor in TraderTools and is chairman of the firm, said: “Mr. Levine’s executive background and operating experience, along with his successful track record adding value for institutional clients, augments TraderTools’ management team as the foreign exchange market continues to evolve.”
Earlier this year TraderTools launched its Unique Liquidity Network (ULNtm) solution that consolidates liquidity in local and emerging market currencies from non-bank and regional bank market makers. The solution started with the Turkish lira, the South African rand, Scandinavian currencies, Central European currencies, and was expanded to include the Russian ruble in August. TraderTools has committed to adding new currencies in 2017.
“The TraderTools team has made tremendous progress with its ULN in a short period. Foreign exchange is rapidly changing and it is an exciting time to continue to add new value for our clients and grow our business,” said Andrew Levine.