Baton Systems, a provider of blockchain-inspired, bank-to-bank payments infrastructure, has appointed Andrés Choussy as president and chief operating officer. Choussy was most recently president and CEO of Traiana, which became part of CME Group through the acquisition of NEX Group.
Choussy, who will be based in New York, joins to scale Baton’s payments and settlements products, as well as to expand its client base beyond major financial institutions within the broader payments ecosystem, the company says. He will report to Arjun Jayaram, CEO and founder.
Choussy brings more than 15 years of financial services knowledge and extensive experience in financial technology for clearing and prime brokerage of FX, along with listed and OTC derivatives.
Prior to NEX, Choussy held various executive positions at JP Morgan, where he most recently was head of the derivatives clearing and OTC prime brokerage business in the Americas. His unique mix of technical, risk, regulatory and commercial expertise will support Baton in addressing the evolving payments landscape, the company adds.
“We are thrilled to welcome Andrés to Baton at this exciting time of growth as we solve the pain points and inefficiencies of institutional payments for more firms and asset classes,” says Jayaram. “He will be integral to maintaining our strong relationship with central banks, custody banks and clearing houses while also strengthening our entry into new markets. Andrés has a proven track record for growing market share, leveraging emerging technologies and driving change management across multiple product lines.”
Baton’s distributed ledger-based technology enables its clients to securely move real assets sitting in real bank accounts in near real-time, the company says. It has been deployed at three of the world’s top 10 global banks, as well as multiple exchanges and clearing houses.
As it expands, Baton says it will diversify into corporate settlements and payments, streamlining the movement of cash and securities associated with trade finance. In addition, the firm says it will address the needs of custodians with innovative solutions to orchestrate payments across multiple counterparties.
“Transforming market infrastructure is a high-reaching goal, yet Baton has successfully built a reputation as a leader in the evolution of payment and settlement solutions,” says Choussy. “I see tremendous potential ahead for the firm and I look forward to driving our strategy to help market participants resolve liquidity and funding challenges.”
Baton has offices in Fremont, CA, New York, and India, and plans to open offices in London and Singapore later this year.