Executive Vice President Joseph Wald Leaves GTX, GAIN Capital’s Institutional Division

Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates has learned that the Executive Vice President of GTX, GAIN Capital’s institutional division is parting ways with the company. Vincent Sangiovanni, Chief Operating Officer of GTX, will continue in his role and will lead the GTX business, and he now reports directly to Glenn Stevens, CEO of Gain Capital.

Mr. Wald had joined GAIN Capital in January 2013 as part of string of high level appointments at the time. Glenn Stevens, GAIN Capital’s CEO explained then that: “Institutional trading is an important part of our growth strategy and having Joe lead this part of the business will help us build on the success we’ve had to date, and achieve our goal of becoming a market leading ECN in the FX space.”

Prior to his appointment at GTX, Mr Wald held senior positions at other large companies in the industry. Most recently, he was head of Knight Capital Group’s institutional electronic trade 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 business. Before joining Knight, he was co-founder and CEO of EdgeTrade, a pioneering firm that served as an agency brokerage and developer of algorithmic trading and direct marketing access software for equity markets. EdgeTrade was acquired by Knight Capital Group in 2008. Mr Wald was educated at Brooklyn College, from where he graduated with a Batchelor of Science degree in Business Management and Finance.