Wematch, the multi-asset-class, Web-based matching and negotiation platform, has appointed Jack Jeffery as chairman of its Board.
With more than 35 years’ experience in financial markets, Jeffery was previously CEO at electronic fixed income platform MTS, prior to which he served at CEO of FX ECN EBS. He also served 11 years at Citigroup, where he was global head of FX options and has previously served on the Bank of England and US Federal Reserve Foreign Exchange committees.
Jeffery’s appointment follows Wematch’s recent funding round, which saw JP Morgan and Société Générale – both users of the platform – invest in the fintech, meaning there are now 40 banks and more than 750 traders using Wematch’s platform, the firm says.
“The Wematch platform represents an extraordinarily significant step forward in the world of inter-bank trading,” says Jeffery. “Its proprietary architecture enables enhanced efficiencies, providing enormous cost benefits as well as improving regulatory compliance. As a neutral platform that is constantly developing to the markets’ needs, Wematch is reshaping the trading market. It is the right product at the right time.
“Having built my career bringing electronic innovation to the capital markets, I am thrilled to be part of a team that is leading such a profound transformation in the market,” he adds.
“The voice market remains robust and an integral part of the trading process – its continued usage is a demonstration of its fundamental importance to participants’ business,” says Joseph Seroussi, co-CEO of Wematch. “But it is time that traders have the best technological tools to facilitate optimal trading with confidence. Jack Jeffery’s experience will be invaluable to Wematch as we work to bring the benefits of electronic trading’s auditing and transparency to traders across capital markets.”
Sewroussi’s co-CEO, Gregory Mimoun, adds, “Jack has an impeccable track record of steering technical innovation across multiple asset classes which have benefited those markets enormously. His appointment is a significant vote of confidence in our technology and our business. We are delighted to welcome him to Wematch as we move to the next exciting chapter in our vision to transform trading markets.”