Web-based trading services provider GAIN Capital has appointed Peter Cronin as head of EMEA sales for the firm’s institutional-focused FX platform, GTX.
GAIN Capital provides online trading services including market access and automated traded execution services across asset classes for both retail and institutional clients. The GTX arm of the business is an independent FX electronic communication network (ECN) used by hedge funds and institutional clients.
Cronin will be responsible for growing GTX’s institutional client base and ECN volumes, and building out the EMEA sales team.
“Peter is an accomplished and talented banking professional who is moving to the FX ECN business at a time when the global foreign exchange industry is undergoing many exciting changes,” said GAIN Capital executive vice president and head of GTX, Joseph Wald, who Cronin will report to.
Previously, Cronin was head of EMEA e-commerce at UBS Investment Bank, where he managed a sales team across Zurich, Lugano, Dubai and the United Kingdom. He joined UBS in 2000, and during his 13-year tenure held senior roles focused on developing the bank’s e-commerce business.
In July, GTX reported average daily institutional volume of US$18.4 billion for June 2013, a 10% increase on May and 137% from June 2012.