Ex-Currenex David Fulkerson Joins Digital Vega FX as Head of Sales, Americas

Digital Vega, a renowned specialist within the OTC FX options market, has appointed David Fulkerson as Head of Sales, Americas and Canada.

Fulkerson joins Digital Vega FX after six years at State Street’s Currenex as Managing Director. Prior to that, he spent two years as Director at Credit Suisse.

It can be said that Fulkerson’s shaped his career at JP Morgan Chase, where he played the role of Executive Director of Institutional Foreign Exchange Sales for 15 years out of London, New York, Singapore, and Tokyo.

“Very excited to be joining the amazing Digital Vega team to make the platform available to North American clients. The DV team has decades of experience in trading, selling and structuring OTC FX options and has grown rapidly in EMEA and Asia to dominate the multi-dealer FX Option space”, said Fulkerson.

Mark Suter, Founder of Digital Vega, commented: “So pleased to have Mr Fulkerson on board to manage the build out of our America’s businesses. Now we will be truly global!”

The OTC FX options market has remained something of a niche element of the global foreign exchange market due to much greater levels of product complexity and technological support requirements.

Major regulatory change and a much greater focus on efficiency and cost reduction have driven many market participants to explore electronification and automation of the trade lifecycle. Enter Digital Vega, which has been delivering this migration since 2011 and continues to do so.

The firm has grown rapidly to dominate the multi-dealer FX Option space and the focus remains consistent. Recent new strategic investment has allowed Digital Vega to attract several key market participants who all share significant experience, market, and product experience in the world of FX options and who will be instrumental in delivering significant growth.

The leading FX Options e-trading platform and provider of FX Options trading solutions has recently partnered with Singapore-based Spark Systems to offer their clients a technology platform for trading the full suite of FX products: Options, Spot, Forwards, Swaps and NDF’s.

The partnership between Digital Vega and Spark Systems is in response to demand from a broad group of buy- and sell-side users who were looking to access the market using complementary FX trading technology solutions. The combination of Digital Vega’s experience in developing FX Options technology with Spark Systems’ FX Aggregation and White Label expertise is expected to create a best-of-breed FX trading platform.

Increasing efficiency is a key industry theme for 2021, with many financial institutions seeking ways to improve performance by automating more of their FX trading, to reduce costs and gain better insight from the data. Inflexible incumbent platforms are being reviewed and replaced with more modern and flexible technology.

Digital Vega is a multi-dealer platform (MDP) for FX Options trading, with liquidity provided by all the major global FX banks.