XTX Markets

XTX Markets is a currency trading and market maker company. It was founded on 30 January 2015 by Alexander Gerko who is currently co-CEO alongside Zar Amrolia.[5][4][1] The company is a spin-off of GSA Capital.[6][7]

XTX Markets
IndustryElectronic liquidity provider
Founded30 January 2015[1][2][3][4]
FounderAlexander Gerko[1][2][3][4]
Headquarters
London[4]
Productsequities/foreign exchange/commodities/fixed income/derivatives [4]
Number of employees
105[4]
WebsiteXTX Markets

History

The company was founded by Gerko in 2015, based in London.[8] It was a spin-off GSA Capital.[6][7]

In 2016, XTX Markets was the ninth-largest liquidity provider in the foreign exchange market by volume; with a 3.87% market share.[9][10] It was the first time a company that is not a bank placed in the top ten of the Euromoney survey.[11][9] It is part of a trend of non-bank traders taking market share from banks.[12]

In 2017, the company became a non-clearing member of the London Stock Exchange.[13]

In 2018, it was the third-largest liquidity provider in the global foreign exchange market by volume; with a 7.36% market share.[9][14] The company had 11.5% market share of European equity markets.[15][16] Other activities included taking a stake in Aquis Exchange,[17][18][19] setting up a foreign exchange 'pricing engine' in Singapore in conjunction with the Monetary Authority of Singapore[20][21] and announcing it would be opening an 'EU hub' in Paris.[5][22]

Products

XTX is a quantitative-driven electronic liquidity provider which partners with counterparties, exchanges and e-trading venues globally to provide liquidity in the equity and foreign exchange markets.[4]

References
  1. "Log In". lists.fnlondon.com. Retrieved 24 November 2018.
  2. "XTX Markets - Mix Interiors". Mixinteriors.com. 18 April 2018. Retrieved 24 November 2018.
  3. Finextra (2 October 2017). "XTX Markets to opt-in as a Systematic Internaliser under MiFID II". Finextra.com. Retrieved 24 November 2018.
  4. Ltd., XTX Markets. "XTX Markets". www.xtxmarkets.com. Retrieved 24 November 2018.
  5. "Subscribe to read". Financial Times. Retrieved 24 November 2018. Cite uses generic title (help)
  6. Agini, Samuel. "City heavyweights back Aquis Exchange IPO". Fnlondon.com. Retrieved 24 November 2018.
  7. "An exclusive look at XTX Markets' new London office is a glimpse of the workplace of the future — Quartz". qz.com.
  8. Agini, Samuel. "Trader XTX Markets picks Paris for post-Brexit EU hub". Fnlondon.com. Retrieved 24 November 2018.
  9. "FX Survey 2016: Overall results". Euromoney. Retrieved 24 November 2018.
  10. "A Computerized Trader Just Beat Banks in Top Currency Ranks". Bloomberg.com. 25 May 2016. Retrieved 24 November 2018.
  11. McGeever, Jamie. "Citi tops Euromoney global FX poll again, but big banks lose grip". Reuters.com. Retrieved 24 November 2018.
  12. Wilkes, Tommy. "Newer firms muscle in on banks' forex territory". Uk.reuters.com.
  13. "London Stock Exchange welcomes XTX Markets". Lseg.com. Retrieved 24 November 2018.
  14. "JPMorgan Dethrones Citigroup to Become Biggest Currency Trader". Bloomberg.com. 30 May 2018. Retrieved 24 November 2018.
  15. "Instinet Adds XTX Markets To SI Liquidity Aggregation - Markets Media". Marketsmedia.com. 5 November 2018. Retrieved 24 November 2018.
  16. Editorial, Reuters. "Trading firm XTX picks Paris for post-Brexit EU hub". Reuters.com. Retrieved 24 November 2018.
  17. "Aquis Exchange PLC - London Stock Exchange". www.londonstockexchange.com. Retrieved 24 November 2018.
  18. "Aquis doubles market share after predatory HFT ban - The TRADE". Thetradenews.com. 1 March 2016. Retrieved 24 November 2018.
  19. "The Trade: Aquis to ban predatory HFTs - Aquis". Aquis.eu. 3 February 2016. Retrieved 24 November 2018.
  20. "London-based market maker first to establish FX trading engine in Singapore - The TRADE". Thetradenews.com. 24 May 2018. Retrieved 24 November 2018.
  21. "XTX Markets to be first liquidity provider to set up FX trading engine in Singapore". Institutionalassetmanager.co.uk. 24 May 2018. Retrieved 24 November 2018.
  22. "Brexit : la plateforme de trading XTX Markets choisit Paris". Latribune.fr. Retrieved 24 November 2018.
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