Interest rate swap execution platform trueEX has appointed a new chief technology officer (CTO) as it looks to expand into the broader rates market.
Industry veteran Kevin Lupowitz has been appointed CTO and tasked with overseeing the expansion of trueEX’s platform in terms of technical specifications, functionality and performance.
He has held several chief information officer roles at major institutions throughout his career, including Liquidnet where he was also a founding employee, and for Thomson Reuters’ FXall trading platform.
Sunil Hirani, CEO and founder of trueEX, explained Lupowitz’s hire signals the firm’s intent to accelerate its expansion into the rates market for both dealers and institutional clients.
“With his experience at other successful industry innovators, I’m confident that Lupowitz will play a key role in this, supporting and building on our unprecedented 2017 growth.”
This year has been a strong one for trueEX, with notional trading activity up a massive 542% year-to-date compared to the year prior. Similarly, its share of the dealer-to-client swaps market now stands at more than 30%, up from 9% just a year ago.
Lupowitz described his new role as an “exciting growth opportunity to work with a pioneering, rapidly growing and independent provider of trading technology”.
He added: “With its expanding dealer and client footprint, trueEX has the potential to transform the efficiency and structure of the global interest rates markets.”