Advanced Markets Ltd., a prime-of-prime liquidity provider, and Fortex, Inc., a multi-asset trading platform provider, today announced the hiring of a global, 10-person sales team formerly affiliated with Boston Technologies Inc. The team will build the two firms’ global sales presence with key personnel located in Shanghai, London and Boston.
Advanced Markets and Fortex have co-developed a number of key products and services for fund managers and brokers, including UltiMT™, a fully integrated MT4 broker solution. The new team will provide a combination of offerings from both companies to best suit client specifications.
“This is a favorable time to expand the sales presence globally for our industry leading products and services,” said Daniel Chen, Fortex’s CEO and founder. “We are very pleased to bring on a great sales team that shares our vision to deliver powerful institutional solutions to the global FX industry.”
The hiring come as the aggregated liquidity model for FX brokers, often termed “prime of prime brokerage,” is shifting in the wake of extreme market volatility around the Swiss National Bank’s surprise move to cease its intervention policy in January.
Advanced Markets was able to weather the extreme market volatility through a combination of robust, low latency Fortex technology and experienced operational staff. In addition, because the firm routes 100 percent of trades to 10 leading FX banks, the banks priced Advanced Markets platforms throughout the SNB episode and worked with the firm to ensure no trades were repriced to the detriment of clients.
“We are excited to hire this proven, world-class sales team especially at this pivotal moment in our industry,” said Anthony Brocco, Executive Chairman, Advanced Markets Ltd. “Advanced Markets and Fortex have spent years developing a robust prime-of-prime liquidity solution paired with unrivalled technology, which will help brokers rebuild and expand in the aftermath of recent momentous events.”
“This is a very exciting time to be joining Advanced Markets-Fortex to help build on the momentum of their robust DMA liquidity and superior technology solutions,” said Natallia Hunik, Global Head of Sales. “We are looking forward to further accelerate company’s growth by expanding product offerings to cater to multiple market segments.”