Advanced Markets (AM) and Fortex have appointed Nidal Hadi as managing director of their Middle East and North Africa (MENA) operations and business development.
AM says it is a wholesale provider of liquidity, technology and credit solutions to banks and brokers, while Fortex is a financial technology company that has developed an ECN trading platform that it says facilitates $12 billion in currency, metals, energy, and CFD trades daily. Both companies are privately held. Hadi joins after spending almost three years with Swissquote, where he most recently held the position of head of institutional sales. Prior to this, he spent six years as head of institutional sales with MIG Bank.
Fortex has hired Paula Osorio Pérez as director of sales for the Latin American market.
Pérez most recently held the position of director, sales and relationship management for Thomson Reuters (TR) where she helped grow the Mexico business for TR and their FXAll trading platform.
Prior to that, Pérez held roles in commercial banking, e-FX Sales, and FX sales for global banking and markets at HSBC. At the bank she worked on the trading and sales desks, executing day-to-day FX and money market trades for global banking and markets’ clients.
ECN provider Fortex and Commercial Network Services (CNS), an online service provider that hosts low latency algorithmic trading systems, have announced the release of an optical fibre cross connect between the companies' facilities in the NY4 Equinix datacenter in New York.
Clients of Fortex can now gain access to the new service and obtain a faster connection to the Fortex infrastructure in the NY4 datacentre. The firm says the VPS (Virtual Private Server) service will be particularly useful to traders who are hosted with Fortex's broker clients and who are looking for the fastest possible connection to the trade server hosted in NY4.
Fortex, a multi-asset trading platform, is launching a local ECN matching engine in the LD5 data centre in London.
The company says the LD5 matching engine will provide banks, brokers, active traders and institutional investors with high volume trading and access to unique, tailored liquidity. The firm adds that by featuring sub-millisecond local order routing, the new ECN will give its clients superior end-to-end performance while lowering overall transaction costs.
To speed local and worldwide trading, the company says its LD5 matching engine has a direct connection by dedicated high-speed fiber lines to Fortex's existing infrastructure in financial hubs around the world. Developed in-house, the infrastructure requires no additional technology deployments from its clients to access.
FAM Clearing, a joint venture between Advanced Markets and Fortex, has announced the appointment of Raphael Ribeaucourt as a vice president of institutional sales.
Ribeaucourt joins FAM Clearing from PrimeXM where he spent eight years as a head of business development. Prior to that, he worked at Baxter Financial services, where he held the role of senior sales executive.
In his new role, Ribeaucourt will be responsible for driving the companies' growth in Europe, and beyond, by leveraging his institutional knowledge of both the financial technology and prime brokerage space.