FX digital communications community (ECN) Spotex has added John Miesner to its management group as Global Head of Sales and Distribution.
Spotex is a US-based ECN targeted on FX and valuable metals buying and selling for each the purchase and promote aspect contributors. Spotex affords trade applied sciences that construct and apply quantitative metrics to contributors based mostly on their buying and selling habits. Their shopper base contains banks, brokers, hedge funds, CTAs, and asset managers who leverage an array of digital options that help purchasers with complicated liquidity sourcing and commerce executions.
Discover iFX EXPO, Your Gateway to Asian Markets!
Spotex expects Miesner’s business expertise, which dates again to 2000, and deep relationships to strengthen its world gross sales capabilities because it seems to develop its attain and proceed to construct market share.
A Lengthy Career inside Institutional FX
Miesner joins the US-based FX ECN from GTX, an institutional overseas trade buying and selling platform. During his four-year tenure, John was liable for GTX’s world ECN gross sales based mostly out of New York. His go away marks the primary senior employees departures to be introduced since 360T agreed on a deal final yr to purchase GTX.
GTX was the FX institutional arm of GAIN Capital (NYSE: GCAP) till it was offered to Deutsche Börse Group by way of its FX unit, 360T, in June 2018. The largest retail dealer within the US obtained web proceeds of $85 million whereas the entire buy value was $100 million.
Prior to Gain capital, Miesner was the top of gross sales at KCG Hotspot, parting methods with the foreign exchange agency after a interval of 14 years working in quite a lot of senior roles. In 2015, KCG Holdings offered its overseas trade buying and selling platform, KCG Hotspot, to BATS Global Markets for $365 million in money. Two years later, KCG Holdings itself was acquired by rival Virtu Financial for $1.four billion, as powerful market circumstances pressured high-frequency merchants to consolidate and rethink enterprise methods.