e-Forex-May-23

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THE E-FOREX INTERVIEW Tom San Pietro In safe hands: What can we expect next from FXSpotStream and its new business model? 36 MAY 2023 e-FOREX
THE e-FOREX INTERVIEW A new chapter has opened for FXSpotStream as the company employs a different business model that will enable it to generate revenue to reinvest in its market leading service. e-Forex spoke to Tom San Pietro, the firms new interim CEO to learn more about his plans and discuss what lies ahead for the business as it embarks on the next stage of its journey. Hi Tom, and welcome to e-Forex. Please can you give readers an overview of your background and career to date? Thanks for having me. I’ve been with FXSpotStream, as CTO for the past six years. I had a strong hand in the development of our FX algo project, as well as the building and implementation of our new low latency network. Prior to FSS I was head of FX Trading Venues for Thomson Reuters. My professional journey gives me a great balance of experience within the industry, along with an intimate understanding of the company – its strengths and weaknesses – putting me in a great position to help us grow. This is a tremendous opportunity and I am grateful for the confidence shown by the board and the staff and look forward to repaying them. Despite some noise in the media, it has always been business as usual for us here at FXSpotStream we will accept we have not. My first what we came out with was a better, action as interim CEO was really to more inclusive solution that benefits press the pause button on everything everyone. that was going on and speak to our clients and LPs. I wanted to get their 2022 was a record year for thoughts on the situation and find out FXSpotStream. Does that put any what was important to them before added pressure on the company to making any decisions. perform in 2023? There have been a lot of changes within the company so far this year, on both the technology and business fronts. While some of those changes we have done a good job of communicating, there are others that I was then able to, with the help of our global team and board of directors, to put together a plan that took those needs into consideration. We approached the situation with honesty and understanding, and I think that 2022 was a tremendous year for FXSpotStream. Our ADV was up over 30% year on year and we, yet again, grew at the fastest rate of any FX service, of those reporting their volumes. We saw growth in all 2022 was a tremendous year for FXSpotStream MAY 2023 e-FOREX 37
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