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  • GTX opens Zurich institutional FX office, headed by Antonio Fananas


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    GTX forex Zurich Switzerland

    GTX (Switzerland) GmbH, the Swiss institutional FX subsidiary of global forex broker Gain Capital Holdings Inc (NYSE:GCAP), has announced that it has opened a new office in Zurich to support sales to money center and regional banks as well as fund managers.

    Antonio Fananas GTX
    Antonio Fananas, GTX

    The new office is headed by Antonio (Toni) Fañanas, Director, Institutional Sales. Mr. Fananas has been with GTX since 2013. Prior to joining GTX Mr. Fananas had various institutional FX roles with CFH Clearing, Oanda, and BGC Partners.

    The opening of GTX’s Zurich office 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.

    Vincent Sangiovanni, CEO of GTX commented:

    We are pleased to establish our new Zurich office at this key moment in the growth of 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.

    GTX provides an array of electronic and voice trading solutions through its various entities including an ECN, prime services, a Swap Execution Facility for NDF trading, and a Registered Swap Dealer, which facilitates trade executions on an agency basis. Clients include banks, hedge funds, CTAs, fund managers, proprietary traders, brokers, and algorithmic trading firms.

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    GTX opens Zurich institutional FX office, headed by Antonio Fananas

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