The German electronic trading systems provider icubic has restructured its board. It explains the changes are necessitated by international expansion and explosive growth in demand for e-trading systems.
Les Gosling, Sales and Marketing Director and Kathleen König, CFO, will join Ralf Henke, co-founder and Director, System Integration, and Andreas Nold, co-founder and CTO, as board members.
Gosling has worked with icubic since April 2003 to grow the firm’s international business. With his appointment to the board, Gosling will take on overall responsibility for icubic’s sales, marketing and business development worldwide.
König, who has been the company’s CFO since 2005, will continue to control finance and human resources. Henke and Nold will be responsible for product strategy and systems integration, and for software development and quality management respectively.
icubic is currently a major provider of e-trading solutions to German banks. It is now looking to expand abroad.
The company says users of its of its systems report 20% plus rates of growth in e-trading transaction volumes in some asset classes compared to 2005. They also claim that e-trading now accounts for over 70% of trading in specific asset classes.
“icubic has seen demand for e-trading systems increase dramatically in the past two years,” explains Ralf Henke. “In the last year we have grown employee numbers by 25 per cent and opened a London-based office to help meet these demands. We are delighted to welcome Les and Kathleen to the board and look forward to the contribution they will make in supporting our expansion plans.”
icubic aims to deliver multi-asset class e-trading technology.
“The strong customer base we have built in Germany will prove invaluable as we continue to grow our business internationally,” adds Gosling. “I am looking forward to being at the forefront of the company expansion plans and amexcited by the opportunities for growth in the fast-moving electronic trading marketplace.”