Jay Moore has officially announced his plans to launch a new buy side-to-buy side matching platform for passive FX hedging programs.
The new platform, where Moore will serve as CEO, is called FX HedgePool and is designed to allow institutional investors to trade directly with one another.
“For 20 years I’ve been developing products built on transparency – and this is no different. I believe I’ve created the platform that institutional investors have been looking for and I’m hopeful that they will feel the same,” Moore tells Profit & Loss.
He adds: “FX HedgePool is designed to be a utility for the buy side to create a safe, reliable and sustainable community where they can avoid unnecessary costs and market impact. As the name suggests, we’re focused on the liquidity requirements of passive hedging programs.”
While the FX HedgePool website is now live, it is locked and requires a code to access.
“Access to the site will only be provided to institutional investors who meet certain qualifications to become members. These members will have the ability to invite and control who has access the pool in a private and secure environment,” explains Moore.
This is Moore’s first venture after departing from Brown Brothers Harriman (BBH), where he was senior vice president and global head of currency administration. Prior to joining BBH in 2012, Moore was the global head of the currency management and portfolio solutions strategy teams for State Street Global Markets.