GTX hires ICAP veteran as CEO of SEF business

Former head of strategic initiatives at ICAP’s EBS BrokerTec joins GTX as CEO of its SEF business.

GTX, the institutional FX trading arm of GAIN Capital holdings, has appointed a new chief executive officer of its swap execution facility (SEF) unit.

Edward Brown will head up the business at GTX following its approval to become a fully registered SEF in May this year.

Brown has more 20 years experience in the financial services industry, with a focus on foreign exchange. He headed up new business development at BrokerTec, which was then acquired by ICAP in 2003.

Following the acquisition, Brown held several senior positions at ICAP, most recently as head of strategic initiatives of the EBS BrokerTec business in New York.

Discussing his appointment, Brown said GTX’s ecosystem of electronic trading venues and voice agency execution services “provides tremendous value to institutional FX traders and I look forward to driving the business forward.”

Brown also joined blockchain consortium, R3 CEV, as business development manager in March this year.