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Screenshot of a breaking news alert e-mail from Q2 2017
LeapRate Exclusive… LeapRate has learned that emerging markets focused institutional FX broker R5FX has hired Chris de Sibert as its new Global Head of Business Development.
Mr. de Sibert joins R5FX after eight years at HSBC in London. For the past four years he has been Managing Director – Foreign Exchange and Commodities Sales at HSBC’s Global Banking and Markets division, effectively responsible for EMEA Bank Sales as well as large Iberian corporate clients for FX and Commodities products. At HSBC Mr. de Sibert headed a team of 12 people, half in London with the others in Germany, Italy and Dubai.
R5FX is a new institutional Liquidity pool for eNDF’s and EMFX, which focuses on leading the market change from voice to screen in BRICS and N-11 currency trading. Upcoming regulation requires Foreign Exchange trading banks to drastically change their current trading channels for the BRICS, N-11 and other Emerging Market/NDF currency pairs.
Today these currencies are traded and fixed over a number of old, difficult to track and inefficient methods. The market is opaque and liable to imperfect price movements to the detriment of both banks and their customers, hence regulators desire for change. R5 is building a trading order lexapro system for FX banks that not only satisfies these new legal requirements, but also specialises in the fast growing transaction volumes in BRIC and emerging economy currencies.