B2C2 elevates Nicola White to group CEO as Phillip Gillespie resigns

abdelaziz Fathi

Cryptocurrency market maker and liquidity provider, B2C2 has promoted the head of its US business, Nicola White, as the group’s new chief executive officer.  

Ms White, the former chief operating officer of fixed income at Citadel Securities, has originally joined the firm in July 2021 as president of B2C2 USA. Her promotion aims to leverage her track record in developing electronic solutions for institutional markets to enhance B2C2’s capabilities as a full service liquidity provider.

Prior to B2C2, White spent five years at electronic trading firm Citadel Securities and nearly 13 years within Morgan Stanley’s fixed income division. At Citadel Securities, she was global COO of the FICC business, tasked with leading the firm’s fixed income institutional market-making business strategy.

“I knew we made a strong hire when Nicola joined the New Jersey office in 2021. Earlier this year I supported her promotion within B2C2’s leadership. The next twelve months in the crypto market will not be for the faint of heart and I am glad to have Nicola with us as we embark on an aggressive effort of market share expansion,” said Max Boonen, Co-Founder & Director of B2C2

The new CEO takes over from Phillip Gillespie, who steps down to focus on a ventures role with SBI. Gillespie, who was instrumental to the acquisition of B2C2 by SBI, was an executive director at Goldman Sachs’ London office, where he had been a foreign exchange dealer for three years.

B2C2 offer a similar experience to FX trading

B2C2 is one of the largest OTC brokers/market makers in the crypto space and ‎provides related liquidity services. Founded in 2015 and headquartered in ‎London, the privately held company advertises its offering as a solution that bridges ‎the gap between traditional financial and cryptocurrency markets.‎

B2C2’s offering allows clients to take positions in the underlying OTC markets with a greater focus on offering a similar experience to trading on traditional FX platforms.‎

B2C2, which was fully acquired by Japanese financial conglomerate SBI Holdings in 2020, expanded its offering beyond crypto to include 24/7 FX trading. B2C2’s clients can view and execute their trades on a real-time two-way market through a point-and-click interface and also monitor live pricing in defined quantities.

SBI already uses B2C2’s liquidity to support its clients trading cryptocurrencies while B2C2 reportedly plans to tap SBI’s resources to support a full prime brokerage service for both crypto and other asset classes.

This brought in further trading and portfolio management functionality to the London-based cryptocurrency liquidity provider’s customer base, with the possibility for further integrations in the future.

Read this next

Retail FX

Interactive Brokers adds 680k accounts, daily trades hit two-year high

Interactive Brokers LLC (NASDAQ: IBKR) recorded 2.44 million daily average revenue trades (DARTs) in February 2024, marking a notable increase from the 2.2 million transactions observed in the previous month. This figure represents the highest DARTs reported in two years, indicating an 11 percent monthly surge and a 15 percent year-on-year rise.

Retail FX

Financial Commission adds Ultima Markets to membership roster

Multi-asset brokerage firm Ultima Markets, operating under the trading name Ultima Markets Ltd, has been granted membership of the Financial Commission, marking the most recent inclusion into the ranks of the self-regulatory organization.

Digital Assets

Bitcoin hits fresh record high amid massive short squeeze

Bitcoin has surged to record highs against both the euro and the pound, hitting €60,447 and £51,736 respectively on Coinbase. The primary cryptocurrency has seen an almost 7% increase in the past 24 hours.

Digital Assets

US court rules crypto trades as securities in Coinbase case

A US court ruled that trading crypto assets on platforms like Coinbase constitutes securities transactions.

Market News

Weekly Data: Oil and Gold: Brief Review before the NFP

This preview of weekly data looks at USOIL and XAUUSD where economic data coming up later this week are the main market drivers for the near short-term outlook.

Institutional FX

FXSpotStream reports lower volumes for February 2024

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for February 2024, which moved lower on a monthly basis.

Fundamental Analysis

Global FX Market Summary: EUR, USD, Gold March 4th,2024

US Dollar Weakness: The US Dollar (USD) is currently struggling to gain strength due to a combination of factors.

Technical Analysis

Bitcoin Technical Analysis Report 4 March, 2024

Bitcoin cryptocurrency can be expected to rise further toward the next resistance level 69000.00 (former multiyear high from January)

Opinion

Finding Opportunity in Challenge: Why New Regulations Offer a Chance For Business to Get on Top of Data Management

The combination of CESOP, PSD3 and the PSR, has put businesses under new pressures. In this engaging article, André Casterman, Senior Advisor at Intix provides invaluable guidance on how companies can stay ahead of the curve.

<