Ex-Alpari and Divisa exec Ryan Gagne, whom the SEC is to award $45 million for whistleblowing, leaves the FX industry to start new firm

Ryan Gagne, a highly respected and very senior institutional FX industry figure, has left the business altogether to start his own enterprise. Top level positions at Hotspot FX, State Street, Alpari US and Divisa capital highlight his career, as well as his part in a whistleblowing exercise for which he is in line to be awarded $45 million by the SEC

Ryan Gagne, a senior FX industry professional whose professional and affable character is well recognized among North America’s upper echelons of the business, has left the FX industry this week to form his own new enterprise, which has been established under the name Self Made.

Mr. Gagne, who spent three years as VP Institutional Sales at Alpari US between January 2012 and February 2015 in Boston Massachusetts where he focused on sourcing liquidity solutions to institutional firms before joining Divisa Capital’s North American division alongside Gary Dennison in March 2015.

This month, Mr. Gagne moves on, taking his 20 years of institutional FX experience to a new business.


Mr. Gagne is in line for a $45 million award from the Securities and Exchange Commission (SEC) for his part in a whistleblowing exercise.

Before joining Alpari US in 2012, Mr. Gagne was at Knight Capital Group (now KCG) at their Hotspot FX ECN, which has since been sold to BATS Global Markets for $365 million.

At Hotspot FX, Mr. Gagne was Vice President, responsible for the FX, equities and futures trading systems, whilst at the same time being Knight Capital Group’s company representative for Fix Protocol (now Fix Trading Community)’s FX working group, as well as being a committee member.

Mr. Gagne was one of the executives that was carried over when Knight Capital bought Hotspot FX in April 2006, as he had been a Director of then independent Hotspot FX from February 2004 to April 2006, when the company was acquired by Knight Capital, which appointed Mr. Gagne as VP for the Hotspot FX ECN until he left the firm in October 2008.

Between October 1995 and September 2003, Mr. Gagne was Vice President at State Street Global Link, responsible for e-Commerce Sales on the bank’s multi-asset class trading and settlement systems including FX, equities, fixed income and futures.

Mr. Gagne, who speaks English and Spanish, multi-asset class trading and settlement systems including FX, equities, fixed income and futures.

Mr. Gagne spent 9 years in the US Marine Corps Reserves as a Sergeant/E-5 Squad Leader between 1989 and 1998, where he was a Squad Leader for crew served weapon system (81mm Mortar). He conducted squad level “small unit” Infantry tactics within cold weather focused Infantry Battalion and is a Persian Gulf Veteran (Desert Shield and Desert Storm).

Educated at Bridgewater State University, Mr. Gagne has a Batchelor of Science degree in Management Science, Finance and Minor Mathematics from which he graduated in 1995.

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