The new offering will allow crypto trading firms, exchanges and brokers to access a broad range of currency pairs, including major currencies such as USD, EUR, GBP, CAD, MXN and CHF, which FalconX stated will mirror the traditional FX market experience.

The desk aims to provide enhanced security and improve capital efficiency by modernising fiat transactions to match the speed of crypto markets.

The new global team will be under the leadership of Ben Sebley, Richard Usher and Lux Thiagarajah.

Selbey will operate as general manager of FX, while Usher and Thiagarajah both join the FalconX team from BCB Group. While at BCB Group, Usher most recently served as head of OTC trading, while Thiagarajah most recently held the position of chief revenue officer.

“I know this has taken a while and some of you might have even thought that I slipped into the bear market abyss, but I’ve actually been rather busy. I’m delighted to finally announce that we have officially launched FX at FalconX! […] This is going to solve a lot of issues for a lot of clients,” Sebley said in a social media post.

The new offering will also leverage FalconX’s middle- and back-office infrastructure and balance sheet, alongside establishing new fiat on and off ramps to serve fast-growing frontier markets.

Elsewhere, the new desk will enhance the movement of funds between traditional currency pairs such as Euros and Sterling through same-day settlement.

‍“For our clients, this will offer fiat access along with high-quality service that has historically been difficult to navigate. Our desk will offer deep liquidity in multiple currencies for a wide range of clients, expanding our current product offering,” FalconX said in a statement.

“For retail aggregators and brokers operating in the crypto market or looking to launch crypto solutions, the new desk offers a low-cost solution for smaller-sized tickets, across multiple currency pairs, in high volume.”

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The integration will provide FalconX access to competitive pricing and liquidity from TP ICAP’s wholesale clients.

FalconX’s institutional crypto native franchise and institutional-grade custodial capabilities provided by Fidelity Digital AssetsSM will also combine with TP ICAP through the integration.

“Collaborating with Fusion Digital Assets is another significant step in our ongoing efforts to bridge traditional financial markets and the growing crypto asset ecosystem,” said Austin Reid, global head of revenue and business at FalconX.

“This will enhance liquidity for our clients and foster an environment that propels growth and innovation in the digital asset industry. It underscores our commitment to providing secure, efficient, and seamless access to the global digital asset market for our clients.”

This integration will help bridge together the native crypto asset ecosystem and traditional financial markets, enabling improved transactions and accelerating growth in the digital asset industry.

“Bringing a player of FalconX’s pedigree onto Fusion Digital Assets is another step forward in the growth of our exchange,” said Tom Flanagan, global head of execution and liquidity management at TP ICAP Digital Assets.

“Our aim is to offer clients a unique liquidity experience in a secure environment. FalconX’s integration and support of Fusion Digital Assets advances our aim. We look forward to extending our diversified liquidity to FalconX and their franchise.”

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Millennium has appointed Ryan Cain in an equites-focused role. According to an update on his social media, Cain joined Millennium from Segantii Capital Management, where he served as a trader for nearly six years. Prior to joining Segantii, Cain spent nearly four years as a trader at Apollo Global Management. Elsewhere in his career, Cain held an equity derivatives sales and trading position at Barclays Capital.

UK-based investment bank Peel Hunt promoted from within for its new deputy head of execution services. James Webb was selected for the role after serving for the last eight years at Peel Hunt, most recently as its head of systematic trading. Peel Hunt confirmed Webb’s responsibilities as systematic head will be encompassed in his new role. Originally joining the investment bank in 2016, Webb also spent five years as its head of FTSE350 market making. Previously in his career, Webb spent six years at KCG Holdings as its head of European ETG trading and three years at ING as a trader.  

Cboe Global Markets has appointed Catherine Clay as global head of derivatives as part of new senior leadership changes made by the firm to support growth strategies. Clay previously served as global head of data and access solutions and digital and will now oversee Cboe’s global derivatives business. Elsewhere, Adam Inzirillo, who previously served as head of North American equities, will now operate as global head of data and access solutions. As part of the role, Inzirillo will oversee Cboe’s market data and access services, global indices, risk and market analytics and execution solutions services. Oliver Sung – previously head of North American execution consulting at Cboe – will replace Inzillo as interim head of North American equities.

Equities expert Tommy Doyle joined Institutional crypto trading platform FalconX in an EMEA sales role, following a one and a half year stint at Coinbase. The sell-side equities specialist joined Coinbase’s institutional team last July, focused on leading the business’ efforts in hedge fund sales for EMEA. Prior to this, Doyle spent almost three years at Goldman Sachs, working in the equities space as a managing director. His experience also includes tenures at Citi and Bank of America Merrill Lynch, both in equities and prime brokerage-focused roles.

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Equities expert Tommy Doyle has joined Institutional crypto trading platform, FalconX, in an EMEA sales role, following a one and a half year stint at Coinbase.

Prior to this, Doyle spent almost three years at Goldman Sachs, working in the equities space as a managing director.

Read more – Coinbase wins approval to offer federally regulated crypto futures trading to eligible US customers

His experience also includes tenures at Citi and Bank of America Merrill Lynch, both in equities and prime brokerage-focused roles.

This hire follows the departure of Coinbase’s digital finance trading head earlier this year. Nick Delikaris left the company to return to State Street as the automation, analytics and platform services lead. He had also previously spent a decade at Goldman Sachs in a variety of roles including as vice president, securities lending/credit-repo trading.

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