Global capital markets technology platform provider Trading Technologies International, Inc. (TT) announced on Tuesday its new foreign exchange (FX) business unit, TT FX. The company also revealed that industry veteran Tomo Tokuyama will lead the new entity.
Tokuyama brings a vast experience in FX trading on the buy side and sell side. Most recently, he served as Head of Trading at a multi-billion dollar quantitative fund manager.
The firm’s latest expansion into a new asset classes with TT FX follows the acquisition of global provider of fixed income trading solutions, AxeTrading, in March. Tokuyama will manage the new business unit. He will initially focus on the hiring of other key FX industry product and technology experts, connectivity to major electronic communication networks (ECNs) and liquidity providers, and the delivery of advanced FX trading capabilities through TT’s execution management system (EMS).
The first phase of implementation for TT FX, which is planned for late 2023, will allow TT buy-side clients to trade spot FX through a choice of curated ECNs. In the beginning of next year, TT plans to extend the offering to include liquidity from major banks and expand the product set to include forwards, non-deliverable forwards (NDFs) and swaps.
TT FX will leverage the unparalleled global distribution capabilities of our platform, the award-winning functionality of our EMS and the widest possible choice of liquidity providers to deliver a truly best-in-class solution. We are delighted to have Tomo on board to lead this initiative for TT. He brings a wealth of knowledge and expertise in this space from both the sell-side and buy-side perspectives.
Tokuyama added:
I have long believed that technology will continue to advance and shape the future of FX trading through greater focus on automation and data. I’m pleased to join a firm that not only shares that view but listens carefully to clients to deliver innovative tools and access to markets that traders and firms actually want. FX is in high demand by TT clients, and I’m excited about the opportunity to further shape the FX strategy and deliver a product that TT clients will be proud to use.
Tokuyama spent over a decade at Los Angeles-based First Quadrant, LLC, a quantitative fund, where he managed the trading team and oversaw all trading activity at the firm including FX, equities, commodities, futures, listed options and total return swaps.
Prior to that, Tokuyama worked at Goldman Sachs in Tokyo and Hong Kong, as a part of the Macro Asset Sales team specializing in electronic FX, responsible for distributing the Goldman Sachs electronic FX offering across Asia. He played an essential role in launching both electronic NDFs and first-generation FX algorithms.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
