Office to Support Sales to Banks and Asset Managers Amid Strong Volume Growth
GTX (Switzerland) GmbH, has opened a new office in Zurich to support sales to money center and regional banks as well as fund managers. The new office is headed by Antonio (Toni) Fañanas, Director, Institutional Sales.
The opening coincides with strong volume growth on the GTX ECN from regional banks, quantitative and global macro fund managers as well as the launch of new ECN matching engines in London and Tokyo.
In the first quarter of 2017, regional bank volumes surged 154 per cent versus the year-earlier period.
Volumes from quantitative and programmatic traders, including funds and non-bank liquidity providers, rose 143 per cent as well. Volumes from this segment were evenly split between aggressive/taking and passive/making activity. Trading by global macro funds jumped 38 per cent.
Through May, GTX ECN volume was approximately $11.5 billion on an average daily basis.
“We are pleased to establish our new Zurich office at this key moment in the growth of GTX,” said Vincent Sangiovanni, CEO, GTX. “Switzerland is an important center for banks and asset managers, which are two market segments driving the expansion of trading volumes on the ECN.”
GTX (Switzerland) GmbH is an affiliate of GTX Bermuda Ltd., the operator of the GTX ECN. The affiliate was registered in May 2017.