FREMONT, Calif., July 30, 2019 /PRNewswire/ -- Baton Systems ("Baton"), a provider of high-speed, blockchain-inspired, bank-to-bank payments infrastructure, has appointed Andrés Choussy as President and Chief Operating Officer. Choussy joins to scale Baton's leading payments and settlements products, as well as to expand its client base beyond major financial institutions within the broader payments ecosystem.
Choussy brings more than 15 years of financial services knowledge and extensive experience in financial technology for clearing and prime brokerage of FX, along with listed and OTC derivatives. Prior to joining Baton, Choussy was CEO and President of NEX Group's Traiana (now part of CME), and before that he held various executive positions at JPMorgan Chase, where he most recently was Head of the Derivatives Clearing and OTC Prime Brokerage Business in the Americas. His unique mix of technical, risk, regulatory and commercial expertise will support Baton in addressing the evolving payments landscape.
"We are thrilled to welcome Andrés to Baton at this exciting time of growth as we solve the pain points and inefficiencies of institutional payments for more firms and asset classes," said Arjun Jayaram, CEO and Founder at Baton Systems. "He will be integral to maintaining our strong relationship with central banks, custody banks and clearing houses while also strengthening our entry into new markets. Andrés has a proven track record for growing market share, leveraging emerging technologies and driving change management across multiple product lines."
Baton's distributed ledger-based technology enables its clients to securely move real assets sitting in real bank accounts in near real-time. It has been deployed at three of the world's top 10 global banks, as well as multiple exchanges and clearing houses.
As it expands, Baton will diversify into corporate settlements and payments, streamlining the movement of cash and securities associated with trade finance. In addition, the firm will address the needs of custodians with innovative solutions to orchestrate payments across multiple counterparties.
"Transforming market infrastructure is a high-reaching goal, yet Baton has successfully built a reputation as a leader in the evolution of payment and settlement solutions," said Andrés Choussy. "I see tremendous potential ahead for the firm and I look forward to driving our strategy to help market participants resolve liquidity and funding challenges."
Choussy joins Baton's senior executive team at a time of rapid global expansion. Baton currently has offices in Fremont, CA, New York, and India, and plans to open offices in London and Singapore later this year.
Baton Systems is reforming the way that payments are made in the world's largest financial markets. By enabling on-demand payments through its distributed ledger-based platform, it is eliminating the need for capital-intensive pre-funding of margin requirements and delivering a more operationally efficient infrastructure for the entire derivatives ecosystem. Founded in 2016 by industry veterans in technology, payments and capital markets, and backed by top-tier venture capital firms, Baton Systems works with numerous market participants – including major global banks, custodian banks and exchanges – to meet today's demands for capital efficiency, regulatory compliance and operational superiority. Find out more at www.batonsystems.com.
SOURCE Baton Systems