Advanced Markets (AM) and Fortex have appointed Nidal Hadi as managing director of their Middle East and North Africa (MENA) operations and business development.
AM says it is a wholesale provider of liquidity, technology and credit solutions to banks and brokers, while Fortex is a financial technology company that has developed an ECN trading platform that it says facilitates $12 billion in currency, metals, energy, and CFD trades daily. Both companies are privately held.
Hadi joins after spending almost three years with Swissquote, where he most recently held the position of head of institutional sales. Prior to this, he spent six years as head of institutional sales with MIG Bank.
In this new position, Hadi will be responsible for driving the companies’ worldwide growth with a particular focus on the Middle East region.
In a statement, the firms say that the FX market in the MENA region is experiencing rapid growth and there is an increasing demand for a reputable counterparty that can deliver true straight-through processing (STP) access to the interbank market via reliable and robust technology.
“Nidal brings world class knowledge of the market and a global perspective to this new position. He has a track record of success and a detailed understanding of the institutional FX sector. Adding this new role is vital for Advanced Markets and Fortex as we continue our ambitious plans to further expand into international markets, by pioneering real FX ‘Prime of Prime’ services and promoting transparency and fair OTC FX execution,” says Natallia Hunik, global head of sales.
“I am delighted to join Advanced Markets and Fortex Inc, the leading Institutional FX liquidity and technology providers. The demand for world-class institutional service, and stable and advanced technology that meets the needs of banks, brokers and corporate asset managers alike, is increasing worldwide,” adds Nidal Abdel Hadi. “I believe that by combining the truly competitive prime liquidity and market depth of Advanced Markets and the state-of-the-art technology of Fortex we have created the optimal environment for Institutional clients, one that ensures both best execution and stable connectivity.”