FX Veterans Team Up for New Corporate FX Service

Two FX industry veterans and founders of consulting firms have unveiled a new partnership aimed providing an in-depth and comprehensive solution targeting the corporate segment of the FX industry.

Derivative Consulting (DCL), founded by David Woolcock, and Stefan Hamberger, founder of FX Alpha eBusiness Consulting commenced the project at the start of June, having reached agreement on the structure of the offering at The Full FX event in Copenhagen earlier this year. The two have been working on bringing to market a solution for corporates

in the FX market. Building on a framework developed by DCL, the firms say the addition of FX Alpha’s deep expertise in FX options, FX structuring, and FX solutions, led by Enrico Ferrante, a partner at FX Alpha, is resulting in a novel modular solution that can be deployed by SME’s, larger corporates who operate an “in-house bank”, or by banks wanting a bespoke offering to their corporate clients.

FX Alpha will bring forensic examination capabilities to the partnership through its pool of specialised professionals in the FX market, including quants and BAs. “We look forward to deploying our combined teams in advising market participants in a wide range of activities; from deploying platforms to advanced pricing and hedging strategies and specialising in all aspects of e-FX and digital assets in an optimised technology, enhanced for a firm’s commitment to the FX Global Code if required,” say Woolcock and Hamberger. “The new venture in the corporate market allows for the insights and support needed to allow corporates better understand and manage risk exposure effectively and deploy an appropriate platform tailored to fit their actual requirement, either as an addition to existing accounting systems or a stand-alone solution importing data from multiple sources.

‘We are bringing a dynamic partnership that is curated to the combined skill sets of both firms and are looking forward to presenting the combined capabilities to their respective clients,” they add.

Woolcock has worked in foreign exchange for 47 years as trader, treasury manager, e-business head, senior sales and business development managers and consultant across a variety of banks, platforms and fintechs. He was also a long-standing chair of the Committee for Professionalism of ACI – The Financial Markets Association, and sat on the ACI FX Committee as well as the BIS Market Participants Group. DCL was established as an FX advisory services and solutions to a broad reach of clients, including helping market participants commit to the FX Global Code. In addition, DCL provides expert witness and legal advisory services to litigants in the High Courts of Justice in England and Wales, and various other international jurisdictions.

Before establishing FX Alpha two years ago, Hamberger spent almost seven years at Credit Agricole as global head of e-FX, continuing a banking FX career that started in 1989 and took in banks including Commerzbank, ABN Amro and HSBC.