Creator of the world’s first multi-dealer foreign exchange trading platform, Simon Wilson-Taylor, has launched a new corporation, Molten Markets, providing best of breed financial marketplaces to the investment management world. Molten Markets offers a range of innovative FX trading products that utilize the very latest technology, bringing true transparency of pricing while ensuring provable best execution for every trade.
CEO and President of Molten Markets, Simon Wilson-Taylor, is joined by a senior management team offering unrivalled experience, knowledge and market understanding. Co-founders John Atchue, a 30 year industry veteran, former head of FX trading at Chemical Bank and Bankers Trust, and more recently Head of FX Sales at State Street; Francisco Heredia, former Head of FICC eCommerce (Americas) at UBS and Alan Moore, former head of FX and money markets for Europe at State Street, form the leadership team.
Of the launch, Simon Wilson-Taylor said: “With renewed focus on how FX is executed in the investment management world this is an ideal time for us to launch Molten Markets. Technology has advanced enormously throughout the industry, and yet the older platforms are essentially based on 20 year old technology and business practices”.
“We have taken full advantage of designing our products in a much more sophisticated market, so we have not had to make any compromises. We have licensed the best technology in the market today and our commanding understanding of the investment management marketplace means we are rolling out a range of products perfectly crafted for their needs. “
The corporation brings three specialist products to the market:
· MoltenFX: A high performance FX ECN which aims to be the leading online FX marketplace for high-frequency trading, offering faster round-trip execution, complete transparency of pricing and no hidden charges, serving banks, hedge funds and the active trading needs of asset managers and corporates.
· InstiFX: A dedicated product designed to meet the sophisticated pre-trade operational and analytical needs of fund managers when trading FX. Serves both the traditional long-only market and larger hedge funds who have complex operational requirements.
· CustodyFX: A specific offering structured and priced to meet the needs of asset owners such as state pension funds, endowments, local authorities and Sovereign wealth funds. CustodyFX will work with custodians to better automate their execution process and provide a degree of transparency that has not been offered before.
Simon Wilson-Taylor continued: “The regulatory and ethical dial is a very different place today. With the renewed focus on how FX is executed in the asset management world this is an ideal time for us to deploy new technology and a workflow that sets a higher standard for execution quality and transparency. Older platforms employ a myriad of revenue models and charging techniques that would probably not pass the scrutiny of regulators if applied in other markets, but we only charge fees that are fully understood by the parties to each trade.”
Molten Markets has licensed its technology from First Derivatives, experts in the design and delivery of software systems used by banks, brokers and major hedge funds. Built upon the industry leading kdb+ database, the Delta suite of products licensed to Molten Markets set new standards for ultra low-latency, scalable and robust trading applications.
Brian Conlon, CEO at First Derivatives said: “Our reputation in the capital markets has been gained through building technology solutions that deliver unrivalled functionality and performance. We are delighted that Molten Markets has selected us as their technology partner to develop a range of truly innovative FX platform solutions made for the needs of the 21st century market.”