Tom Flanagan Leaves GTX after 10 Years, Joins TP ICAP as Trading Head

Tom Flanagan, a long-term executive in the forex industry, announced on Thursday that he joined the digital assets team of TP ICAP as the Head of Trading.

The appointment came when TP ICAP was strengthening its upcoming digital asset offerings by adding market makers Market Makers Market makers or called dealing desk brokers represent a type of broker that internalize flows and are taking the opposite side of a transaction submitted by their clients. The market making broker is only quoting a feed of prices to its clients. These feeds may or may not be the exact same as the prices quoted on the interbank market.Any order a client enters is processed internally and never goes out to the market, except in rare cases where a market making brokerage identifies a client as a v Market makers or called dealing desk brokers represent a type of broker that internalize flows and are taking the opposite side of a transaction submitted by their clients. The market making broker is only quoting a feed of prices to its clients. These feeds may or may not be the exact same as the prices quoted on the interbank market.Any order a client enters is processed internally and never goes out to the market, except in rare cases where a market making brokerage identifies a client as a v Read this Term. The upcoming over-the-counter spot trading service will target institutions.

“The Digital Assets team is building the infrastructure to support trading of blockchain native assets, such as Bitcoin and Ethereum, while also preparing for the tokenization Tokenization Tokenization represents the process of substituting a sensitive data element with a non-sensitive equivalent, i.e. token, which bears no extrinsic or exploitable meaning or value. In essence, the rights to the ownership of an asset are converted into a digital token. Tokenization can be used to own an entire unit of an asset. For example, one token that represents the ownership of a piece of real estate or to split ownership of a single unity of an asset such as 200,000 tokens, each one represen Tokenization represents the process of substituting a sensitive data element with a non-sensitive equivalent, i.e. token, which bears no extrinsic or exploitable meaning or value. In essence, the rights to the ownership of an asset are converted into a digital token. Tokenization can be used to own an entire unit of an asset. For example, one token that represents the ownership of a piece of real estate or to split ownership of a single unity of an asset such as 200,000 tokens, each one represen Read this Term of other assets classes, such as equities, bonds and commodities,” Flanagan wrote on Linkedin.

A Forex Expert

He brings a strong financial background to his new role. He spent the last decade in the forex industry.

He joined TP ICAP from 360 Trading Networks, which is Deutsche Börse Group’s global FX unit. There, he spent four years, parting as the Global Head of Liquidity Management. Before that, he was with Gain Capital and worked on GTX until the ECN business was sold to 360T in mid-2018.

“After 10 years with GTX under both Gain Capital and 360T, it is bittersweet to share that I will be starting a new chapter in my career. Over this period I’ve worked with great people across both firms. I am truly thankful to both my colleagues and our clients for the impact they have had on shaping me professionally and personally,” Flanagan added.

Meanwhile, TP ICAP, which bought Liquidnet last year, is witnessing a jump in its quarterly revenue. Furthermore, the company is doubling down on its institutional forex business and is launching a Singapore-based electronic FX trading platform.