Steve Toland joins MarketFactory management team

MarketFactory, the leading provider of software and services for the foreign exchange market, has announced the appointment of Steve Toland as its Vice President of Sales.

MarketFactory was the first pre-trade risk management technology provider in FX.  By providing a single API accessing all major FX venues globally, its FX Aggregator connects traders with the world’s top liquidity-providing ECNs, banks, non-banks and brokers.

Toland’s role will focus on propelling global expansion of MarketFactory’s market access and limit monitoring technologies, which have experienced doubling customer numbers for each of the last three years.

Darren Jer, COO, said via the MarketFactory Blog: “We’re psyched to be working with Steve. With his market knowledge and client service ethic, we’re fully expectant that he’ll help our clients be even more successful in their trading.”

Steve Toland explained: “MarketFactory is a dynamic business with a growing number of buy-side and bank customers which are increasing their focus on preventing naked access. This is the right time for this business to expand significantly so I’m honoured to be joining the team for the next stage of their growth.”

As FX markets have become increasingly fragmented over recent years, MarketFactory has delivered solutions to address concerns over how to manage risk effectively, including innovative pre-trade risk controls that prevent so-called “run-away algos”. Its real-time Limit Monitor enables clients to use one net open position (NOP) measure across all venues with minimal impact on latency.

James Sinclair, CEO, explained that “Institutions across the buy- and sell-side recognize the need to access an increasingly fragmented market yet maintain full control over trading limits. Our innovative safety controls allow clients to manage risk in real-time, and we’ve seen significant growing interest in this new service. Steve will be instrumental in taking MarketFactory to the next level and ensuring we deliver the best customer experience”.

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