LeapRate Exclusive… LeapRate has learned that True Trade Markets co-founder and COO Ashraf Agha has resigned, prior to the company’s planned launch later this Spring.
As was reported exclusively by LeapRate last November, FCA-regulated True Trade Markets (formally True Trade Ltd) was created by controlling shareholder and New York based entrepreneur Michael Frey, whose company designs and develops electronic trading platforms for use in Exchange / ECN environments. Presumably, True Trade will launch with Frey’s proprietary platform, as well as possibly MT4.
The team hired by Frey including Mr. Agha consists of veterans of Saxo Bank, Gain Capital Holdings Inc (NYSE:GCAP), Marex Spectron, CFH, CitiFX and City Index.
Before joining True Trade, Ashraf Agha was Chief Operating Officer (FX) at Marex Spectron from 2011-2014. He was also previously Executive Director & Co-Founder – Head of Operations at CFH Markets, and served as Director – Head of Treasury at Saxo Bank A/S.
We understand that Mr. Agha’s departure was for purely personal reasons, as the company (which will operate from website truetrademarkets.com) is on track to launch institutional services shortly, and retail brokerage services later in the Spring / Summer 2017.
True Trade’s Board of Directors is currently interviewing candidates to replace Mr. Agha. Klaus Buhl, CEO of True Trade commented to LeapRate:
Ashraf’s contribution to the business has been very important to True Trade. We thank him for his efforts and we wish him the very best in his future endeavours.