GTS to Enter FX with New Senior Hire – Former Hotspot FX Co-Founder Steven Reich

Regulated broker-dealer, Global Trading Systems (GTS), an automated market maker in thousands of securities including U.S. equities, ETFs, commodities, financial futures and U.S. cash treasuries/rates has reported that it has selected industry veteran Steven Reich as its new Head of FX and Commodities. The move comes on the back of interest in the liquid currency markets by the market maker firm.

“We are pleased to welcome Steve to our team,” said Ari Rubenstein, President and CEO of GTS in a statement. “As we continue to expand our offerings into execution services, Steve brings the unique combination of serial entrepreneurship and extensive experience as an FX trader. Steve’s career has evidenced his deep understanding of the importance of good citizenship within the capital markets community and the need to build strong relationships with trading counterparties, which are both important parts of our firm’s philosophy. Adding Steve to the GTS team will help us leverage our firm’s technical excellence and trading depth to further strengthen those relationships as we grow in new asset classes.”

GTS’s entrance into the FX markets is no surprise as FX markets continue to grow, according to volumetric data published by the Bank of International Settlements. The appointment of Mr. Reich shows the firms commitment to play a key role in the new asset class. Mr. Reich has substantial experience in the currency markets.

Notably he was Co-Founder and Chief Operating Officer of Hotspot FX, an online trading platform which he helped to build and expand, leading to the firm’s acquisition by Knight Capital Group for $90 million in 2008. In addition, he has held senior positions at CME, FX Bridge, HSBC and other institutions.

“This is an exciting time for the GTS team and I’m thrilled to join one of the largest equities trading firms in the U.S. that also offers top-of-the-line commercialized technology products and quant analysis,” said Mr. Reich in a comment to the media.

“GTS has an exceptional track-record of performance in cash equities and futures, and in the past year has successfully diversified across the fixed income complex. We see a tremendous opportunity to leverage our platform and expertise for expansion into additional asset classes, and I’m excited to help lead that effort into the FX, metals and energy markets.” According to information on LinkedIn, Mr Reich joined the firm in September and is based in New York.

bitcoin
Bitcoin (BTC) $ 62,460.00 2.63%
ethereum
Ethereum (ETH) $ 3,877.38 0.34%
binance-coin
Binance Coin (BNB) $ 473.81 1.44%
tether
Tether (USDT) $ 1.00 0.01%
cardano
Cardano (ADA) $ 2.16 0.96%
xrp
XRP (XRP) $ 1.10 3.17%
solana
Solana (SOL) $ 160.75 1.86%
polkadot
Polkadot (DOT) $ 42.78 0.51%
usd-coin
USD Coin (USDC) $ 1.00 0.07%
dogecoin
Dogecoin (DOGE) $ 0.241519 1.80%
S&P 500  ^GSPC 
$4,471.37  $107.57  (2.47%)
Dow Jones Industrial Average  ^DJI 
$35,294.76  $916.96  (2.67%)
NASDAQ Composite  ^IXIC 
$14,897.34  $73.94  (0.50%)
Russell 2000  ^RUT 
$2,265.65  $23.68  (1.06%)
Crude Oil Nov 21  F*CL.NYM 
$83.23  $0.9500  (1.15%)
   
$0.0000  $0.0000  (0.00%)