Spotex, a developer of technology systems for the FX markets and ECN operator, has hired John Miesner as executive managing director, global head of sales and distribution.
“We are fortunate to have John join us at this transformative point in our evolution,” says Ritesh Agrawal, CEO of Spotex. “John’s vast knowledge of the institutional foreign exchange market and its key participants will be a tremendous asset as he leads the company forward.”
Spotex was launched in 2014 by Agrawal, who previously held senior IT positions at Hotspot FX (now Cboe FX), GFI and PwC, and COO Chris Mitchell, who held similar positions in financial technology.
To date, Spotex has provided its ECN and technology on a wholesale basis primarily to brokers and money managers. It is now targeting the institutional FX market and has begun rolling out a hub product, which is designed to enable banks, non-bank liquidity providers and other institutions to set up bespoke trading networks and liquidity pools to optimise market access, lower costs, and better meet best execution mandates.
“I see tremendous opportunity in the company’s approach to the institutional FX market and am excited to lead the Spotex team,” says Miesner. “The multilateral ECN model introduced nearly 20 years ago has transformed spot FX trading. Spotex is well positioned to support the next phase of evolution in which institutional market participants create their own, innovative trading paradigms.”
“We have developed robust institutional and wholesale technology that has been refined and tested over the last five years,” adds Mitchell. “With John on board, we are eager to bring it to market.”
Miesner joins Spotex having most recently spent three years at GTX, where he was managing director, head of global sales. Prior to joining GTX, Miesner had been with Hotspot since its launch in early 2001, joining what was then a start-up after a 15-year trading career with Standard Chartered Bank in New York. In 2006, he took on the role of global head of sales at the firm following a restructuring.