TraderTools
MFP Trading has selected TraderTools technology for providing its customers a single point of access to aggregated liquidity with tailored relationship pricing. “MFP understands the relationship nature of our market,” says Yaacov Heidingsfeld president of TraderTools. “Tailored relationship pricing is the best way to ensure participants’ best execution, with liquidity priced for business they want […]
TraderTools has hired Andreas Putz as director of sales and Rich Pisarra as liquidity manager in New York, following new investment into the firm.“We are building out our ULN (EM network) and scaling up what has been a very successful initiative for us. We plan on going very aggressively after the software white label market and the connectivity markets for regional banks and brokers. We will be aggressively pricing the commoditised components for vanilla G10 flow,” Mark Mayerfield, chief revenue officer at TraderTools, tells Profit & Loss.Mayerfield also confirms that these hires follow new investment in TraderTools, and although he declines to provide details regarding the size and scale of the investment, sources indicate that
TraderTools has announced that Investec Bank has joined its Unique Liquidity Network (ULN).
Through hosted facilities in Equinix LD4 and Equinix NY4, the ULN now consists of over 60 unique liquidity providers, making prices in G10 and emerging and underserved market currencies, the firm says.
Using the ULN, Investec plans to provide its customers with improved pricing and execution, and to increase its reach within the electronic FX marketplace. Access by Investec customers will be via the TraderTools API, and through a variety of FX venues.
TraderTools has promoted Moti Sapir to the new position of director of liquidity management.
In this new role, Sapir is responsible for managing all TraderTools’ bank and non-bank liquidity provider relationships and will facilitate the flow of critical information between counter-parties on the platform.
Sapir has been with the firm since 2005, and most recently was the global head of customer support. Succeeding him in that role is Orad Vinograd.
Vinograd joined the firm in 2012, and in addition to his new responsibilities, will continue to head up customer onboarding. Sapir and Vinograd will continue to report to Mark Mayerfeld, executive vice president of sales.
Although it does not provide specific numbers, TraderTools says that Q1 2017 volumes across its Unique Liquidity Network (ULN) were 217% above Q4 2016 volumes.
It adds that the ULN now consists of over 25 “unique” liquidity providers, making prices in emerging and “under-served” market currencies such as Turkish lira, South African rand, Russian ruble, Israeli shekel, the CE-3 currencies, and the Scandinavian currencies.
The number of “unique” takers connected to the ULN increased in Q1 by more than 20%, the firm also states.
Erste Group Bank has joined the TraderTools Unique Liquidity Network (ULN) as a market maker in CE3 pairs.
TraderTools says through its existing network of local market making banks in Eastern Europe, Erste will be making markets in Romanian, Czechoslovakian, Hungarian, and Polish pairs.
The firm adds that banks on the ULN have what it terms a strong presence in emerging and local market currencies such as central European, Turkish lira, South African rand, Scandinavian currencies, and the Russian ruble.
TraderTools has appointed Andrew Levine as its new CEO and a member of its board of directors.
Levine joins TraderTools from SpeedRoute and tØ, subsidiaries of Overstock, where he was the chief revenue officer.
Prior to this, Levine held positions at BNY Mellon, including head of global product management and EMEA relationship management for the American Depositary Receipt (ADR) division.
While at ConvergEx, an affiliate of BNY Mellon, he was an executive committee member and expanded its ADR Brokerage businesses to over 100 clients with market access to 35 countries.
TraderTools has announced that additional native Ruble liquidity is now available on its Unique Liquidity Network. “This Ruble liquidity is in addition to emerging markets liquidity available from a network of local market making banks in Eastern European, Turkey, Scandinavia, South Africa, New Zealand, and Australia,” the firm says, adding that liquidity takers not looking […]
