NEW YORK, April 26, 2017 /PRNewswire/ -- trueEX, the fastest-growing swaps execution and processing firm, has hired a seasoned industry executive to help oversee unprecedented growth of its flagship swap execution facility. Chris Yoshida, former head of Rates Sales at Deutsche Bank and Morgan Stanley, will spearhead sales, marketing and strategy for trueEX, joining CEO Sunil Hirani and President & COO Karen O'Connor on the executive team.
The appointment of Yoshida comes at a time of record growth for trueEX, which commanded over 40% of all client nationals executed on the three dealer-to-client platforms during Q1 2017. During this period, clients traded more than $3.75 trillion of derivatives on the award-winning swap execution facility, a nearly 20 times increase over the same period in 2016.
"Chris is a game-changer, not only for trueEX but for the industry. As market structure pivots to smarter, cross-product solutions, he will help us quickly realize our vision for 'one-stop shopping' across derivatives, government debt, swaptions and other correlated products," said Hirani.
Yoshida was previously Global Head of Rates Sales at Deutsche Bank. Prior to this, he headed EMEA Rate Sales at Morgan Stanley, where he worked for 11 years. His strong domain expertise and deep client relationship will greatly enhance the execution of trueEX's business strategy as it seeks to extend its presence across North America, United Kingdom, European Union, MENA, Japan and APAC.
"trueEX is a once-in-a-career opportunity to enact meaningful change in the industry. So I'm excited to share the vision of a future that thrives on delivering fast, integrated technologies to help clients better manage risk across rates products," said Yoshida. "It's not just that trueEX is better; it's that it sees the world differently."
Twenty-four global dealers provide liquidity on the trueEX platform to more than 80 top-tier buy-side firms. Many additional US, European, Canadian, Scandinavian and Australian dealers are in advanced stages of on-boarding, as well as 25 top-tier buy-side firms.
trueEX LLC operates the first exchange approved by the Commodity Futures Trading Commission (CFTC) as a Designated Contract Market (DCM) for swaps. As an exchange and registered swap execution facility (SEF), trueEX has executed over $7.3 trillion in trading volumes and $18.9 trillion in post-trade services. Its SEF provides request-for-quote (RFQ) trading protocols and a proprietary portfolio terminations and compactions (PTC) system for the efficient trade management of existing positions through direct connectivity to multiple clearing houses. trueEX has been recognized as one of the industry's leading and most innovative companies, winning SEF of the Year at the 2016 Risk Awards and SEF of the Year at the GlobalCapital Americas Derivatives Awards in 2015 and 2016. trueEX was also named to the 2015 Institutional Investor Tech 50 and Forbes Fintech 50 rankings. The Company is based in New York and enables the trading of interest rate swaps by all market participants. It will add other liquid derivatives to its portfolio in the near future.
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