FX Veteran Alex Knight Joins Blockchain Firm Baton Systems

Alex Knight, a former senior executive at Citi’s FX business, has joined Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term post-trade services provider Baton Systems as head of Europe, the Middle East, and Africa (EMEA) region.

Alex has left his position as a director and global head of sales and client coverage for FX prime brokerage (FXPB) at Citi back in May 2019. He had been with Citi for nearly two decades, having previously worked for the US bank in Sydney and Singapore. Most recently, he led Citi’s UK prime brokerage business, based out of London, from 2015 to 2019.

Prior to joining Citi, Knight worked as a sales director at SS&C Technologies, part of a career dating back to 1992, his Linkedin profile shows.

“Alex’s wealth of knowledge and deep connections with broader banking and financial institutions in Europe will be instrumental in helping Baton to automate the movement of assets across the financial system,” said Andres Choussy, COO and former CEO of CME Group’s post-trade business Traiana, who joined Baton Systems in July this year.

Baton Systems, which provides bank-to-bank Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term infrastructure modeled on blockchain technology, expects Alex’s experience across FX and derivatives markets to help the brand more quickly build on its platform in the European market.

Baton process $12 billion in daily transactions

Earlier in February, the three-year-old, California-based startup raised $12 million in series A funding led by Trinity Ventures, with participation from Alsop Louie and Commerce Ventures.

Founded in 2016, Baton provides a blockchain-based solution for the banking space that doesn’t require banks to overhaul existing systems. The firm, which claims to be processing more than $12 billion a day in payments between its clients and clearinghouses, works with different market participants, including banks, custodians, and exchanges.

Commenting on his appointment, Alex Knight noted: “Excessive funding costs, operational inefficiencies, and risk all create a significant drag on financial markets participants. Technology can be used to mitigate these pressures. Baton has evolved as one of the industry’s most innovative financial technology firms, solving inefficiencies in legacy payments systems in a practical way, and I look forward to driving the expansion of its business in Europe.”