Former FXCM executive Mark Davison appointed Director of Business Development at X Markets Trading

In addition to the appointment of former FXCM Inc (NYSE:FXCM) executive Michael Higgins by systematic trading and technology company X Markets Trading, a firm specializing in a quantitative approach to managing institutional flow and handling liquidity provision, a further former senior member of FXCM’s management team has joined the firm.

Mark Davison spent several years at FXCM, his most recent position at the firm being Global Head of Bank Relationships for the company’s FastMatch division which matches buy and sell orders for banks, electronic trading companies and asset managers, based at the FXCMPro operations in London.

FXCM had announced that as part of its intention to sell its non-core assets, FastMatch, a highly profitable organization, was scheduled to be sold along with the company’s stake in market making company Lucid in order to repay the emergency financing obtained from Leucadia following exposure to negative client balances as a result of the Swiss National Bank’s removal of the 1.20 peg on the EURCHF pair in January this year.

FastMatch had actually capitalized on that particular event, exceeding its daily average volume for December 2014 by 200% in one day, having handled $24.3 billion in buy and sell orders on January 15.

Prior to his position at FastMatch, Mr. Davison was Head of Institutional Division – QuantumFX at Alpari UK between 2010 and 2013, preceeded by a previous tenure at FXCMPro which spanned four years from 2006 to 2010 as Head of Pro Division FX.

Before joining FXCMPro in 2006, Mr. Davison spent twelve years at Prudential Financial as Head of Trading from 1994 to 2006.

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