New FX Platform Unveils CEO Ahead of Launch
Posted by Colin Lambert. Last updated: September 8, 2023
FX trading platform BlueX, which was developed and tested by BlueCrest Capital Management, has unveiled former head of FX transactions at Refinitiv Graham McGregor as CEO as it prepares for launch.
McGregor spent 16 years at Thomson Reuters/Refinitiv, before leaving earlier this year for the BlueX role. He also spent almost four years at FX options platform Icor, having joined from nine years at JP Morgan, the last period of which he was trading FX options. The new platform utilises BlueCrest-developed technology and systems, and the firm says it has been extensively tested for many years at BlueCrest with trillions of dollars being executed. During this time, BlueX declares, it has demonstrated “exceptional performance, stability and reliability”.
Upon launch, subject to regulatory approval in Jersey and scheduled for “the coming months”, BlueX says it will aim to offer a range of unique trading tools to provide institutional market participants with versatile trading solutions and workflow automation in a single application. The firm adds the platform will offer “unique data driven execution for value generation”, as well as versatility in trading solutions for both discretionary and systematic traders. There will be a “wide array of unique trading tools in one place”, with integrated workflow automation and access to multiple FX liquidity pools.
“BlueX will aim to set a new gold standard in FX trading,” says McGregor. “BlueX’s commitment to integrating data analytics lies at the heart of its mission to empower traders to achieve optimal execution decisions in both a normalised and fast-paced FX market.
“BlueX will look to offer a multifaceted solution that supports various trading styles and needs in a single application, serving as a pivotal tool for the end user,” he continues. “Inspired by traders for traders, the platform is testament to BlueCrest’s unwavering commitment to innovation, excellence and pushing the boundaries in the world of finance. It is a privilege to lead BlueX’s growth and development as an independent business.”
Manuel Aranzana, head of systematic trading, BlueCrest Capital Management, adds, “The platform became the single execution venue for FX at BlueCrest thanks to its unique trading features and tools requested by the BlueCrest portfolio managers using it daily. BlueX is a mature, stable, and sophisticated solution and we are excited to pass on its legacy to an independent executive team, ably led by Graham MacGregor to harness its potential to revolutionise the trading landscape.”