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TraderTools Names Levine as CEO

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.

“Mr Levine’s executive background and operating experience, along with his successful track record adding value for institutional clients, augments TraderTools’ management team as the foreign exchange market continues to evolve. We are excited about the added depth and experience Andy brings to TraderTools,” says Joe Allegra, general partner at Edison Partners and chairman of TraderTools.

In June, TraderTools launched its Unique Liquidity Network (ULN) to try and address changes in the FX marketplace that have led to concerns about liquidity gaps and a tightening of credit availability. 

The ULN is designed to leverage the firm’s core technology infrastructure to provide a single liquidity pool in emerging and local market currencies from both non-bank and regional bank market makers – with fully disclosed, relationship-based prices. 

The firm says that market makers on its ULN have a strong presence in emerging and local market currencies such as the Turkish lira, the South African rand, the Scandinavian kroner, Central European currencies, and the Russian ruble. The firm says that new markets will be added to the ULN next year.

“The TraderTools team has made tremendous progress with its ULN in a short period. Foreign exchange is rapidly changing and it is an exciting time to continue to add new value for our clients and grow our business,” says Levine. 

Yaacov Heidingsfeld, co-founder and president of TraderTools, adds: “I look forward to working closely with Andy. His background and experience opens new opportunities for TraderTools, and his addition to the management team allows me to focus my full time on expanding participation in our ULN, and designing and implementing solutions that work for our customers.”

Galen Stops

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