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GTX Launches Zurich Office

GTX has opened a new office in Zurich, to be headed by Antonio (Toni) Fañanas, director, institutional sales, at the firm.

The office is opening as an affiliate of GTX Bermuda Ltd, the operator of the GTX ECN. The affiliate, GTX Switzerland (GmbH), was registered in May. 

The new office will support sales to money centre and regional banks, as well as fund managers, according to GTX. 

“The opening coincides with strong volume growth on the GTX ECN from regional banks, quantitative and global macro fund managers, as well as the launch of new ECN matching engines in London and Tokyo,” says GTX in a release issued today. 

The release adds: “In the first quarter of 2017, regional bank volumes surged 154% versus the year-earlier period. Volumes from quantitative and programmatic traders, including funds and non-bank liquidity providers, rose 143% as well. Volumes from this segment were evenly split between aggressive/taking and passive/making activity. Trading by global macro funds jumped 38%.”

Through May, GTX ECN volume was approximately $11.5 billion on an average daily basis. 

“We are pleased to establish our new Zurich office at this key moment in the growth of GTX,” says Vincent Sangiovanni, CEO of GTX. “Switzerland is an important centre for banks and asset managers, which are two market segments driving the expansion of trading volumes on the ECN.”

Galen Stops

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