The future of futures is electronic! Tradovate becomes FCM in North America

Diversification of non-FX asset classes onto dedicated electronic trading platforms has gained speed this year, spearheaded by initiatives from large, well established companies such as IG Group Holdings plc (LON:IGG) with the launch of its retail stockbroking platform several months ago.

This week, another innovator joins the fold, this time on western side of the Atlantic, as Tradovate has been granted its Futures Commission Merchant license from the National Futures Association (NFA).

Tradovate is still currently in its pre-launch stages, and is building next generation cloud-based online futures trading technology, created by senior industry figures with substantial experinence at some of North America’s largest firms.

Founded by former Gain Capital Holdings Inc (NYSE:GCAP) Senior Vice President Rick Tomsic, who is now CEO of Tradovate, the company began its gestation period in June 2014.

Mr. Tomsic is not only a very senior FX industry executive, but also a seasoned venture capital investor, having for the past fourteen years operated his own firm in the capacity of Managing member of Tomsic Holdings, LLC, an investment holding company, that invests in traditional and non-traditional assets, as well as private equity. The company specifically focuses on investment in futures, forex and equity trading technology firms.

Also on the senior executive team of Tradovate is Ryan Hansen, also formerly of GAIN Capital, where he spent almost four years as VP of Business Development at the company’s Open E Cry Chicago operations, a post he assumed after seven and a half years at the ill-fated PFG Best where he was Director of Vendor Integration from 2003 to 2010.

Joining Mssrs Hansen and Tomsic is Brian Weis, formerly Director of Technology at Baesman, where he spent two years, a position he assumed after two and a half years as VP Technical Services at Open E Cry, GAIN Capital’s futures operations, where he was responsible for full life cycle product and project management for multi-asset class online trading platform including requirements, design, development management, testing and release.

Indeed, Tradovate is backed by some very experienced professionals and has leading edge technology at the forefront of its ethos. With its newly minted FCM license now valid, launch is a very short time away indeed.

Photographs: Top Left – Rick Tomsic, founder and CEO of Tradovate. Lower Right – Ryan Hansen, President of Tradovate.