Fortex and Advanced Markets Hire Global Sales Team
CHARLOTTE, NC—March 24, 2015—Fortex, Inc. a multi-asset trading platform provider, and Advanced Markets Ltd. a prime-of-prime liquidity provider, today announced the hiring of a global, 10-person sales team formerly affiliated with Boston Technologies Inc. The team will build the two firms’ global sales presence with key personnel located in Shanghai, London and Boston.
Fortex and Advanced Markets have co-developed a number of key products and services for fund managers and brokers, including UltiMTTM, a fully integrated MT4 broker solution. The new team will provide a combination of offerings from both companies to best suit client specifications.
“This is a favorable time to expand the sales presence globally for our industry leading products and services,” said Daniel Chen, Fortex’s CEO and founder. “We are very pleased to bring on a great sales team that shares our vision to deliver powerful institutional solutions to the global FX industry.”
The hiring come as the aggregated liquidity model for FX brokers, often termed “prime of prime brokerage,” is shifting in the wake of extreme market volatility around the Swiss National Bank’s surprise move to cease its intervention policy in January.
Advanced Markets was able to weather the extreme market volatility through a combination of robust, low latency Fortex technology and experienced operational staff. In addition, because the firm routes 100 percent of trades to 10 leading FX banks, the banks priced Advanced Markets platforms throughout the SNB episode and worked with the firm to ensure no trades were repriced to the detriment of clients.
“We are excited to hire this proven, world-class sales team especially at this pivotal moment in our industry,” said Anthony Brocco, Executive Chairman, Advanced Markets Ltd. “Fortex and Advanced Markets have spent years developing a robust prime-of-prime liquidity solution paired with unrivalled technology, which will help brokers rebuild and expand in the aftermath of recent momentous events.”
“This is a very exciting time to be joining Advanced Markets-Fortex to help build on the momentum of their robust DMA liquidity and superior technology solutions,” said Natallia Hunik, Global Head of Sales. “We are looking forward to further accelerate company’s growth by expanding product offerings to cater to multiple market segments.”
Fortex is the world’s leading FX trading platform, with $12 billion in currency trades and 500,000 tickets a day for tens of thousands of traders around the world. The company’s powerful Fortex platform, Fortex 6 application for traders, sophisticated cloud infrastructure, and middleware solutions revolutionized currency, commodity, and equity trading beginning in 1997.
Today, traders, broker dealers, market makers, money managers, banks, hedge funds, and investors around the world rely on Fortex to accelerate trade execution and support sophisticated trading strategies. And the most successful currency trading firms have built their FX businesses on the Fortex platform. Fortex is headquartered in Redwood Shores, California with offices in New York and Hong Kong. The company is privately held.
For more information, please visit the company’s Web site at www.fortex.com
About Advanced Markets Ltd.
Advanced Markets is a wholesale provider of prime-of-prime liquidity, credit and technology solutions to banks and brokers globally. The firm’s products support direct market access (DMA) trading in spot FX, precious metals, energy as well as contracts for differences (CFD) across financial and commodity products. It also provides FX, metals and CFD trading and credit solutions and services to fund managers, commodity trading advisors and corporate FX market participants.
The firm pioneered DMA to aggregated, streaming foreign exchange rates from leading global FX banks. Advanced Markets’ DMA model goes beyond RFQ, “no dealing desk,” STP and ECN models, enabling low latency, anonymous trading on live, executable multibank spot FX prices.
On a wholesale basis, Advanced Markets serves more than 40,000 institutional and individual clients in more than 30 countries globally. The firm does not do business with retail traders directly.
The company is privately held. Outside investors include Macquarie Americas Corp Inc., a wholly owned subsidiary of Macquarie Bank and GFI Group Inc.
Advanced Markets Ltd. is licensed as an Australian Financial Services Licensee pursuant to section 913B of the Corporations Act 2001.
For more information, please visit the company’s Web site at www.advancedmarketsfx.com