New York, September 25, 2016
MarketFactory announced today that, effective October 1, James Sinclair will be appointed Executive Chairman, a full time role, and Darren Jer will become CEO of MarketFactory.
Commenting on the change, James Sinclair said: “MarketFactory is on track for another year of high growth, as well as geographic and product expansion. We’re double the size we were a year ago, following two similar years before. It’s a good time to pass on the helm. This will allow me to spend more time with customers and colleagues in the currency and derivatives industry, researching our changing market structure, and working on new strategic initiatives for MarketFactory. This is the aspect I enjoy the most.”
James is a member of the Market Participants Group under the BIS FXWG developing the FX Global Code of Conduct.
“Darren Jer, as COO and my co-founder, has built a team that combines the best of Silicon Valley growth culture with deep expertise in core financial infrastructure. I value Darren’s drive, passion, confidence, laser-focus and experience. He was instrumental in the success of our single API to the world’s largest market, pre-trade risk controls, and low-latency infrastructure for all market participants.”
“We’ve both been promoted,” commented Darren Jer. “James and I have been friends and colleagues for over 12 years and I look forward to the next chapter of our partnership. James’ many decades of experience and knowledge about the OTC markets has been critical in driving our high-growth.”
As CEO, Darren Jer will be responsible for all aspects of MarketFactory’s business. As Executive Chairman, James Sinclair will be responsible for corporate governance, chairing the board and risk committee, focusing on new business, products, strategy, and working with colleagues in the industry.
Notes to editors:
MarketFactory is transforming the largest market in the world, foreign exchange. $1.3 quadrillion transacts annually over 100 independent venues. By integrating every API into a single rationalized view, MarketFactory enables banks, ECNs, brokers and funds to trade 100 to 25,000 times faster than their legacy systems. Thousands of hours of development and networking time is eliminated, allowing financial institutions to focus on pricing and client service. A mission-critical technology partner to global banks and buy-side firms, MarketFactory’s Pre-Trade Risk Management solution prevents runaway algorithms, while its API-as-a-Service allows any bank or fund to become a liquidity provider. For more information please contact firstname.lastname@example.org