GTX, the prime business of the institutional arm of GAIN Capital, is expanding its team in Asia, Finance Magnates has confirmed with the company. The strategic hires which the company is making are part of the broker’s global expansion plans.
GTX recently launched matching engines in London and Tokyo, which has greatly improved the competitiveness of the GTX Direct prime service. The company is offering the service to retail brokers, corporations, hedge funds, proprietary trading desks and high net worth individuals, offering liquidity in spot foreign exchange and metals.
Looking at the company’s Asian operations, GTX recently hired Ivan Wong, who worked previously at EBS, Integral and Barclays, and Joshua Yeo, who worked previously at Hotspot, Trading Screen and ANZ.
ATFX Thanks NHS Frontline Workers with 1k Fruit Boxes DonationGo to article >>
“With recent strategic hires as well as the launch of our Tokyo matching engine, we have the infrastructure and personnel to provide the highest level of support to clients in the APAC region,” said Vincent Sangiovanni, CEO of GTX.
GTX Direct accounted for over $1.85 billion in average daily volume (ADV) in January 2017, which is up by 670 per cent when compared to the same month last year.
The service supports multilateral trading on the ECN and direct trading with banks, non-bank liquidity providers and other counter-parties.
Earlier this year in January, the GTX ECN set a new trading volumes record of more than $12 billion in ADV. According to the company, the increase was partly driven by the launch of the ECN’s London matching engine in November 2016. The company launched its Tokyo matching engine on January 31st of this year.