CLS Group Adds SG FX Exec John Bock to Americas Sales Team

FX market infrastructure specialist CLS has onboarded banker and FX veteran John Bock to join its sales unit at Americas, according to information made public on his Linkedin profile. Bock, who is based in New York, has been appointed as part of the US sales team reporting into Dianne O’Boyle, Head of Sales- Americas.

He joins CLS after nearly three decades at global banks, where he was mainly focused on managing e-FX order flows.

Bock served most recently as head of eCommerce FX for Americas at Societe Generale Corporate and Investment Banking. During his eight-year term with the French lender, he was tasked with managing all aspects of the eFX business, from Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term to sales, CRM and algorithmic client trading.

Before his time at Societe Generale, John worked for a number of banks in a variety of FX-related roles, mostly in New York. He previously worked as a vice president in FX electronic trading services at Bank of America Merrill Lynch, where he also managed the BOA/ML merger and electronic Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term to clients.

Bock began and spent most of his professional career at Goldman Sachs. He joined the investment bank back in 1990 as an operations analyst and then worked his way onto the trading, sales and electronic FX desks.

The appointment comes as part of a broader strategy that aims to shake off CLS’ image as a traditional settlement services provider. To date, most of the updates to CLS products were enhancements of existing services intended to make the offering more efficient.

Instead, the company, which was formed in 2002 to reduce FX settlement risks, recently has been keen to promote itself as a provider of innovative products, including post-trade risk management, aggregation and netting solutions.

Earlier this month, CLS Group has reported a seven percent drop in average daily volume. During the month, the average daily traded volume submitted to the company was $1.75 trillion.