CME Group’s Jeff Ward to Take Over as FXSpotStream’s CEO

<p>FXSpotStream
has gotten a new Chief Executive Officer (CEO) months after forex veteran Alan
F. Schwarz, who founded the New Jersey-based company in 2011, announced the end
of his <a href="https://www.financemagnates.com/executives/fxspotstream-co-founder-alan-schwarz-to-say-goodbye-after-over-11-years/" target="_blank" rel="follow">decade-plus leadership</a>. Today (Monday), LiquidityMatch, the parent
company of FXSpotStream, unveiled Jeff Ward, the Global Head of Electronic
Brokering Services (EBS) at CME Group, as the new “permanent” CEO of
FXSpotStream and other subsidiaries.</p><p>Jeff Ward
to Lead FXSpotStream Starting 2024</p><p>According
to LiquidityMatch, Ward will start the role on January 1, 2024, taking over
from Tom San Pietro, FXSpotStream’s Chief Technology Officer (CTO) who has been
acting as the interim CEO. However, Pietro will continue to act in the temporary position until the
end of the year.</p><p>Ward joins
FXSpotStream, which provides multibank <a href="https://www.financemagnates.com/terms/f/forex/">forex</a> aggregation services for forex
spot trading, after nearly two decades at EBS, which was acquired by CME Group
in 2018.</p><p>In a career
spanning over 30 years, the top executive has also previously
worked for ABN AMRO Bank, a Dutch multinational banking and financial services
company, and Citibank, the American subsidiary of banking giant, Citigroup.</p><p>“Following
an extensive and rigorous search, the [LiquidityMatch] Board is highly
confident that Jeff’s exceptional leadership skills, strategic insights and
deep industry knowledge make him the ideal choice to drive the company’s
continued growth, as well as strengthen its partnerships and build key new
relationships,” Mark Meredith, LiquidityMatch’s Board Chair, stated in a
statement.</p><p>State of
Institutional Spot FX Demand</p><p>The
announcement of Ward’s appointment follows a month during which demand for spot
foreign exchange among institutional investors declined. FXSpotStream, Cboe FX
and Euronext FX <a href="https://www.financemagnates.com/institutional-forex/institutional-spot-fx-activitiesreturn-mixed-performance-in-july/" target="_blank" rel="follow">posted a
month-over-month decline</a> in their total volumes in July, <a href="https://www.financemagnates.com/" target="_blank" rel="follow">Finance Magnates</a> reported.</p><p>However,
FXSpotStream’s European division recently saw <a href="https://www.financemagnates.com/institutional-forex/fxspotstream-europe-boosts-revenues-and-net-income-in-2022-by-34/" target="_blank" rel="follow">a 34% increase in its
revenue</a> and net
income for 2022, showing that the company is poised for growth. In
addition, the multibank forex aggregation services provider recently bolstered
its executive team with the <a href="https://www.financemagnates.com/executives/moves/fxspotstream-onboards-new-liquidity-management-head/" target="_blank" rel="follow">appointment of Jeremy
Rose</a> as the
Senior Vice President and Head of Liquidity Management.</p><p>ThinkMarkets adds Taiwanese index; Bitget mandates KYC; <a href="https://www.financemagnates.com/forex/news-nuggets-21-august-thinkmarkets-adds-taiwanese-index-bitget-mandates-kyc/" target="_blank" rel="follow">read today's news nuggets</a>.</p>

This article was written by Solomon Oladipupo at www.financemagnates.com.