Exclusive: New FX brokerage security firm Etana Custody opens in New York, headed by ex-FTT senior executive Brandon Russell

New York ranks alongside Chicago as a city of not only vast institutional trading companies, but also a series of supporting firms which operate in tangent, providing niche services which contribute toward the sophistication of North America’s electronically traded financial markets. The most recent example of such a firm is newly established Etana Custody, which […]

Etana Custody

New York ranks alongside Chicago as a city of not only vast institutional trading companies, but also a series of supporting firms which operate in tangent, providing niche services which contribute toward the sophistication of North America’s electronically traded financial markets.

The most recent example of such a firm is newly established Etana Custody, which after several months of planning by co-founder and CEO Brandon Russell, has launched its service this week.

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Etana Custody provides brokerages with lower transaction fees, and facilities to hold client funds seperately with enhanced security.

The company’s intention is to enable brokerages to position themselves with an extra value proposition which enhances their credibility, provides clients with peace of mind and allows technology and liquidity providers to gain a greater number of commercial clients whilst having their compliance requirements met.

Mr. Russell has substantial experience in the FX industry, both on the trading side as well as from a technological perspecive.

After four years in sales, he moved to Pinnacle Ltd in 1999, where he assisted in the development of an original risk insurance book and the building of a sales team.

Two years later, Mr. Russell became Trading Director at Panamark Forex, a registered Commodity Trading Advisor in the US, which also provides specialist research, where he ran the managed accounts trading program across four brokerages. Joining the company in 2000, Mr. Russell spent six years at Panamark Forex.

In October 2006, Mr. Russell moved on to found his own company, Alderon Capital Management, within which he raised capital an managed external third party marketing relationships for a North American commodity pool operator (CPO).

In 2012, Mr. Russell was appointed President of Sales and Operations for the Americas at Swedish brokerage solutions firm Fair Trading Technology before moving on in October 2013.

Founding Etana Custody has been a structured process, and has been conducted alongside Mr. Russell’s FX consultancy firm Alderon Management, which he has been a director of since 2008. That particular company offers consultancy on marketing and regulatory matters for FX brokerages.

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