Spotex Appoints Paul Ainsworth to Lead Institutional Sales

FX Electronic Communications Network (ECN) Electronic Communications Network (ECN) Electronic Communications Network or ECNs are execution venues which are providing the infrastructure for matching buyers with sellers. Electronic trading is traditionally used in OTC products and outside of exchanges. An ECN normally functions as an electronic system that disseminates orders entered by market makers to third parties. In doing so, an ECN permits the orders to be executed against in whole or in part. The most common products that are traded on ECNs are stocks and currencies, maki Electronic Communications Network or ECNs are execution venues which are providing the infrastructure for matching buyers with sellers. Electronic trading is traditionally used in OTC products and outside of exchanges. An ECN normally functions as an electronic system that disseminates orders entered by market makers to third parties. In doing so, an ECN permits the orders to be executed against in whole or in part. The most common products that are traded on ECNs are stocks and currencies, maki Read this Term), Spotex has added industry veteran, Paul Ainsworth to serve as Managing Director for Global Institutional Sales.

Ainsworth will be focused on further developing the global sales of Spotex’s rapidly growing prime of prime brokerage, as well as technology sales and client acquisition.

Spotex is a US-based ECN focused on FX and precious metals trading for both the buy and sell-side participants. Spotex offers exchange technologies that build and apply quantitative metrics to participants based on their trading behavior. Their client base includes banks, brokers, hedge funds, CTAs and asset managers who leverage an array of electronic solutions that assist clients with complex Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term sourcing and trade executions.

Paul Ainsworth served most recently at pan-European exchange, Euronext as Head of Sales of its FX institutional platform, having originally joined the Fastmatch ECN in 2015.

Ainsworth joined FastMatch in 2016 from UBS Investment Bank, having served as its Executive Director since 2011 in New York where he specialized in eCommerce FX sales. Additionally, he worked at Barclays Capital as its Director, dating back to 2007.

Spotex has had its sights on growing its business in the aftermath of recent industry changes, and the company has already opted to diversify its product range and clientele.

Speaking about his new role, Paul Ainsworth said: "I am excited to join Spotex because it is bringing exciting innovations to the institutional FX market and has tremendous growth potential. I look forward to working with a team that has deep experience in bringing technology and liquidity solutions to market."

"We are thrilled to have Paul join Spotex at this pivotal moment in our evolution. Paul's deep client relationships and market knowledge will enable us to develop new solutions with a wider set of institutional market participants," added Spotex CEO, John Miesner.