The head of trading at London-based hedge fund, Sequoia Capital Fund Management, has departed to join FX platform provider BidFX in a senior data role.
Daniel Chambers joins BidFX as head of data and analytics after eight years with Sequoia Capital, where he most recently served as head of trading for seven years. Prior to this role, he served as head of the back-office for one year.
At Sequoia Capital, Chambers was responsible for all trading within the firm, including G10 FX spot, reducing trading costs and increasing efficiency through the development of execution algorithms, and implementing trade cost analysis tools.
His appointment at the FX execution management system (EMS) follows news in June that Singapore Exchange (SGX) acquired a remaining 80% stake in BidFX for $128 million.
SGX acquired a 20% stake in the firm in March last year for $25 million. The transaction was completed in July this year and expanded SGX’s reach beyond FX futures into the global FX over the counter market.
More recently in September, BidFX launched a trading desktop application that will support the layout of multiple screens for traders via the operating system OpenFin.
The desktop-installed web application supports the layout of window-based components that interoperate across a trader’s multi-screen workstation via OpenFin. BidFX said that new working conditions brought on by the pandemic meant that demand to trade securely from anywhere was high.