Top Level Appointments Continue - Former Knight Direct Executive Joseph Wald Joins GAIN Capital to Lead Institutional Business

Concurrent with other large 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 tradi 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 tradi Read this Term companies recruiting new blood at the top over recent months, GAIN Capital have followed suit and appointed Joseph Wald as Executive Vice President, Head of Institutional. GTX, GAIN Capital's institutional business, will come under the leadership of Mr Wald, whereby he will report to CEO Glenn Stevens and perform his role from GTX's New York City offices.

The last six months have entailed many senior level restructures within large companies, including OANDA's reshuffles as reported by Forex Magnates, first appointing K Duker as CEO to supersede Michael Stumm in May 2012, then bringing on board Asia Pacific-based Jesper Bruun Olsen as Managing Director of Northeast Asia and Head of OANDA Japan as well as Stacy Grant-Thompson as CMO of OANDA International in Canada earlier this month.

With regard to Mr Wald's appointment, Glenn Stevens, GAIN Capital's CEO explained: "Joseph Wald is a talented visionary with the proven ability to grow trading volumes and build innovative product and service offerings for leading institutional platforms."

"Institutional trading is an important part of our growth strategy and having Joe lead this part of the business will help us build on the success we've had to date, and achieve our goal of becoming a market leading ECN in the FX space."

Prior to his appointment at GTX, Mr Wald held senior positions at other large companies in the industry. Most recently, he was head of Knight Capital Group's institutional electronic trade Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term business. Before joining Knight, he was co-founder and CEO of EdgeTrade, a pioneering firm that served as an agency brokerage and developer of algorithmic trading and direct marketing access software for equity markets. EdgeTrade was acquired by Knight Capital Group in 2008. Mr Wald was educated at Brooklyn College, from where he graduated with a Batchelor of Science degree in Business Management and Finance.

"Performance and innovation are crucial to the institutional FX space, given the significant number of competing venues and platforms," said Joseph Wald. "I'm looking forward to leveraging almost 20 years of experience in the equity world to bring a new level of innovation to the institutional FX space and help differentiate GTX from the competition."