Spotex Hires Miesner to Lead Institutional Expansion
Spotex Hires Miesner to Build Institutional Business
FX Technology Vendor and ECN to Expand on Wholesale/Retail Base
Jersey City, New Jersey, January 14, 2019 - Spotex, a developer of modular technology systems for
the foreign exchange markets and ECN operator, today announced it has hired John Miesner as Executive Managing Director,
Global Head of Sales and Distribution. Miesner was previously Managing Director and Global Head of Sales at GTX.
The hire comes as Spotex moves to expand its technology and liquidity products and services to the institutional sector
of the foreign exchange market. The firm launched in 2014 with an ECN-based technology offering that was specifically
built to address shortcomings in existing systems. It was founded by Ritesh Agrawal, who previously held senior IT positions
at Hotspot FX (now Cboe FX), GFI and PwC, and Chris Mitchell, who held similar positions in financial technology.
"We are fortunate to have John join us at this transformative point in our evolution, "said Agrawal, Chief Executive Officer,
Spotex. "John's vast knowledge of the institutional foreign exchange market and its key participants will be a tremendous
asset as he leads the company forward."
To date Spotex has provided its ECN and technology on a wholesale basis primarily to brokers and money managers. The technology
is built on a flexible, extremely stable, ultra-low latency architecture.
It has begun rolling out a hub product, enabling banks, non-bank liquidity providers and other institutions to set up bespoke
trading networks and liquidity pools to optimize market access, lower costs, and better meet best execution mandates.
"I see tremendous opportunity in the company's approach to the institutional FX market and am excited to lead the Spotex team," said Miesner.
"The multilateral ECN model introduced nearly 20 years ago has transformed spot FX trading. Spotex is well positioned to support the next
phase of evolution in which institutional market participants create their own, innovative trading paradigms."
"We have developed robust institutional and wholesale technology that has been refined and tested over the last five years," said Mitchell,
Spotex's Chief Operating Officer. "With John on board, we are eager to bring it to market."
Prior to Spotex and GTX, Miesner was head of global sales at Hotspot FX. He previously held senior FX sales and trading positions
at leading global banks.