EBS veteran Jeff Ward takes helm at liquidity aggregator FXSpotStream
Effective January 1, 2024, LiquidityMatch LLC has installed Jeff Ward as its new Chief Executive Officer. Ward, the former global head of Electronic Broking Services (EBS) at CME Group, will be responsible for leading the strategic direction of LiquidityMatch and its subsidiaries, including FXSpotStream LLC.
Ward’s appointment follows the departure of Alan Schwarz, co-founder of FXSpotStream, who left in February as part of a planned transition. Schwarz had been the CEO for over 11 years and was instrumental in the growth of FXSpotStream’s average daily volumes.
Jeff Ward’s experience in the foreign exchange market is extensive, particularly during his tenure at EBS, a wholesale electronic trading platform. At EBS, he played a crucial role in the platform’s development and expansion, serving in multiple senior roles, including Global Head of Non-Deliverable Forwards (NDFs) and Forwards, Head of EBS Asia, Global Head of EBS Direct, and Global Head of EBS Sales.
Ward’s early career included positions at Citibank in New York, where he was involved in cash management and securities processing, and at ABN AMRO in various international locations. Prior to joining EBS, which was later acquired by ICAP in June 2006, Jeff Ward had an extensive background in commercial banking
FXSpotStream is a multi-bank FX aggregation service for spot FX trading. As a bank-owned consortium, it offers infrastructure to facilitate trades from clients to liquidity providers, aggregating liquidity from several leading global banks. The platform is known for its ‘no last look’ trading model, which provides execution certainty to market participants.
Schwarz co-founded LiquidityMatch/FXSpotStream in 2011 after leaving Icap, where he had previously worked for more than seven years as the General Counsel for the Americas. During his tenure, FXSpotStream’s average daily volumes grew from slightly over $18 billion to more than $70 billion thanks to the addition of new liquidity providers and clients to the platform.