FXone appoints e-Trading executive Michael Bundy as Chief Technology Officer & Chief Architect

Seabury Financial Solutions LLC (dba FXone), a subsidiary of Seabury Group LLC and a provider of market leading liquidity management system, announced today the appointment of Michael Bundy as Chief Technology Officer & Chief Architect. Mr. Bundy will lead efforts associated with securing the company’s top spot as the global provider of a proven, scalable, ultra-low-latency e-FX platform leveraging a system architecture deployed by some of the largest exchanges and most successful high frequency trading organizations worldwide.

“Mike is amongst the finest technologists and e-trading luminaries, and we’re very pleased that he will lead FXone’s team of experienced e-trading software engineers,” said FXone President & CEO Rosario M. Ingargiola. “His deep computer science background with real-world, hands-on coding experience, proven leadership and significant accomplishments in the institutional electronic trading system space will help propel FXone to be the technology leader in the FX industry.”

Prior to joining FXone, Mr. Bundy was Chief Technology Officer & Chief Architect for Chi-X Global and Chi-X Europe. He led the launch of E.U.’s first multilateral trading facility (MTF), which quickly gained significant market share, handling more than 15% of trades by 2009 in FTSE 100 stocks in the top 10 European markets. Mr. Bundy also spearheaded the global IT strategy and built Asia Pacific technology teams in support of Chi-X’s expansion.

During his career, Mr. Bundy also served as Global Chief Technology Officer at New York-based Instinet Inc., where he laid out the vision for the next generation trading system and led the technology organization through a successful sale of the company to Nomura in 2009. Prior to Instinet Inc., Mr. Bundy also led the development of one of the highest performance Direct Market Access equities trading platforms in use today, while at CSI and Momentum Securities, two start-up companies, which were acquired by Tradescape and eventually became part of E*TRADE in 2002.

Mr. Bundy commented on his appointment, “I’m very excited to be joining FXone and the great team they have assembled. This is my first foray into the FX space, and I expect challenges unlike any other marketplace I have operated in. I look forward to drawing upon my years of experience operating markets in this new, vibrant, marketplace as part of FXone.”

Mr. Bundy has been recognized as one of Wall Street’s most influential CIOs and was included in the Wall Street and Technology’s Gold Book 2006. He holds a number of U.S. patents pertaining to high-performance, low-latency securities trading technology.

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