Eurex – A Germany headquartered multi asset class global derivatives exchange recently made an addition to its FX team in a bid to boost its FX business offerings. According to changes made in the executive’s LinkedIn profile, the firm has now on boarded Chris Soutar as a part of its Global Foreign Exchange Sales team. While neither his LinkedIn profile nor any update from firm has revealed his exact official title at the firm, it is clear that he is part of higher echelon and will serve in capacity of senior level leadership role. Prior to joining Eurex, Chris served for nearly 23 months at London headquartered banking and wealth management service provider Investec where he was responsible for overseeing the firm’s global operation pertaining to forex sales. Prior to Investec, Chris served at Currenex – one of the world’s leading liquidity provider in their London office. To those unfamiliar with the name Currenex, it is a US headquartered forex liquidity service provider which has access to more than 70 global banks and superior electronic trading network making the firm’s liquidity pool one of the deepest among similar services available in global market.
Chris joined the firm back in February of 2014 as member of the firm’s customer support desk and was promoted to role of Assistant Vice President in May of 2015. As Assistance Vice President at the firm, he was responsible for handling the firms’ sales and client relations in European market region. Prior to Currenex, Chris served as an FX Operations Analyst for more than four years at FIXI plc – an UK headquartered FCA regulated Forex and CFD brokerage . Altogether, Chris has an overall experience of nearly 8 years in dealing with Forex assets the entirety of which was spent serving in firms located in London as per information in his LinkedIn profile. The Pan-European exchange operator’s FX business offering is made of FX futures and options and rolling spot futures which allow traders to manage their FX exposures with listed products. It should be noted that the firm has highly invested in efforts involving expansion of its FX trading business on global scale having managed to sign up with major banks to gain support to their FX futures which includes both trading and clearing services.
Earlier this year, the firm also partnered with European asset management firm Union Investment to trade FX on Eurex. With these partnerships, the firm has now provided its clients with an opportunity and option which enables clients dealing with FX to execute their traders bilaterally be it Off-Exchange against global banks or a move between OTC FX and listed FX using exchange for physical method. The firm’s FX business suite is made up of derivative products which contains FX futures available for 11 currency pairs all of which have quotation and tick sizes in-line with existing OTC FX standards. Following Europe’s enforcement of MiFID II legislation, the firm has seen a significant shift in its corporate structure to meet the requirement of relevant marketplace group. Given its stance as one of Europe’s leading derivatives marketplace the firm is adapting its existing setup in Switzerland to suit the modern changes in regulatory requirements while also bolstering its business offerings in Asian market.
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