FX veterans Russell Fernandes and Mark Price join 4OTC as co-founders
“Russell, Mark and I have a shared goal of providing best in class infrastructure for OTC markets, where there is a significant change in the FX market in particular, in part driven by the increased adoption and usage of Digital Assets such as Bitcoin”, said Alexis Atkinson, Co-Founder at 4OTC.
Russell Fernandes and Mark Price have joined Alexis Atkinson as Co-Founders of 4OTC, a provider of connectivity services for the FX industry and digital assets.
Mr. Fernandes is an industry veteran who started as a software developer at BAE Systems in 1998 but moved to Rabobank in 2001, where he spent 20 years developing software for electronic trading.
He was Head of FX development at the bank before joining 4OTC. In this role, he was responsible for developing and maintaining multiple mission-critical systems in FX spot and derivatives electronic pricing, trading, and risk management.
Russell Fernandes, Co-Founder at 4OTC, said: “Institutions are increasingly looking to expand into Digital Assets, but market fragmentation and a lack of institutional-grade infrastructure are significant barriers to adoption and efficiency. I have seen first-hand the need for a service like 4OTC which allows clients to quickly connect to multiple FX and Digital Assets venues and liquidity providers using a robust, high-performance product. This enables clients to focus on business value, maximizing efficiency and profit.”
Mark Price became a renowned figure in low latency and high-performance software after nine years at LMAX. As Lead Performance Engineer, he was in charge of researching, testing, and implementing application and systems-tuning strategies to achieve low latency and minimal jitter within our trading systems.
At LMAX, he reduced the mean end-to-end system latency to 100 microseconds and greatly reduced the long-tail, and was involved in technical PR, recruitment, mentoring, and team-building.
He used his experience at LMAX to developed several low latency matching engines for FX and Crypto clients since 2017.
Mark Price, Co-Founder at 4OTC, said: “Responding to the demands of Institutional FX and Digital Assets traders, our purpose-built single API delivers low latency connectivity, which is highly scalable, robust, and secure. With new trading venues launching frequently we have also made speed of onboarding a differentiator for our service, where we typically have clients and venues up and running in a matter of hours. We aim to do the hard work of integration for our clients, providing a single, convenient interface to many disparate providers.”
Alexis Atkinson, Co-Founder at 4OTC, commented: “Russell, Mark and I have a shared goal of providing best in class infrastructure for OTC markets, where there is a significant change in the FX market in particular, in part driven by the increased adoption and usage of Digital Assets such as Bitcoin. With our 1API service, we make it significantly quicker and easier for institutions to connect to both FX and Digital Asset markets. Combining our experience of capital markets technology and client relationships, we’re looking forward to working together to address the needs of the institutional market during a period of exciting change.”
4OTC’s infrastructure addresses the challenges of OTC trading desks in the FX and Digital Asset markets as it offers low latency, scalable and secure connectivity for banks, market makers, and buy-side trading firms.
The firm’s 1API connects to multiple liquidity providers and venues in Digital Assets and FX markets. The lack of institutional-grade infrastructure for market data, matching, credit, and collateral management has come as an opportunity for financial technology firms like 4OTC and Cobalt. Their offerings allow clients to transition between FX and Digital Assets to maximize efficiency and profit.
Cobalt has recently deployed 4OTC’s 1API to connect with market data, providing Cobalt with increased access to market data venues.