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Screenshot of a breaking news alert e-mail from Q2 2017
The increasing interest among many FX industry participants for boutique, specialist technology has spawned many a new venture in recent months
This month, former financial technology quantitative research consultant David Lyon has launched his own technology company which designs and trades its proprietary trading algorithms, under the designation of e-Algo LLC, in Tucson, Arizona.
Last year, a number of mergers and acquisitions were conducted between large, established FX companies and specialist technology companies operating in niche markets which were considered valuable to ubiquitous firms, as exemplified by FXCM’s purchase of FX intelligence firm Faros Trading for $15.6 million as a result of which it gained the ability to assist the success of clients by providing provocative, thoughtful, and value added research.
Prior to establishing e-Algo LLC and assuming his post as Managing Director, Mr. Lyon held the position of Managing Trustee at Lyon Asset Management, which he reports as having traded over $1 billion in volume since its establishment, specializing in ultra-low latency proprietary algorithmic FX trading.
According to a-Algo LLC’s corporate profile, Mr. Lyon was a partner and Director of Research and Development at Chicago-based Marold Capital Management where he oversaw the creation of both a research & development platform as well as a live trading platform. Mr. Lyon’s primary responsibility within the company was the creation as well as implementation of numerous trading algorithms across multiple time frames in numerous markets.