Jeff Ward replaces Alan Schwarz as CEO of LiquidityMatch, FXSpotStream

abdelaziz Fathi

Liquidity aggregator service LiquidityMatch LLC has appointed the global head of EBS, Jeff Ward, as its permanent chief executive officer. Jeff will assume the CEO role effective January 1, 2024, responsible for leading the strategic direction of LiquidityMatch and its subsidiaries, including FXSpotStream LLC.

Jeff formerly ran CME Group’s Electronic Broking Services (EBS), a wholesale electronic trading platform used to trade on the foreign exchange market (FX) with market-making banks. It was originally created as a partnership by large banks and then became part of CME Group.

He takes over responsibilities from Alan Schwarz, co-founder of FXSpotStream, who left the firm in February as part of a planned changeover. Schwarz, who has served as the CEO for over 11 years, chose to keep the specific reasons for his departure private.

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 $63.5 billion thanks to the addition of new liquidity providers and clients to the platform.

Before assuming his current role, Ward held various senior positions within EBS and its related areas. He served as the Global Head of Non-Deliverable Forwards (NDFs) and Forwards, as well as the Head of EBS Asia, based in Singapore. He also held the positions of Global Head of EBS Direct and Global Head of EBS Sales. Earlier in his career at EBS, he held roles such as Senior Vice President and Regional FX Sales Manager for Asia and Oceania, as well as Regional FX Sales Manager for North America.

Prior to joining EBS, which was later acquired by ICAP in June 2006, Jeff Ward had an extensive background in commercial banking. He held executive-level positions at ABN AMRO, working in locations such as San Francisco, New York, and Amsterdam. His career began at Citibank in New York in 1992, where he was involved in the cash management and securities processing business.

FXSpotStream provides a multibank FX aggregation service for spot FX trading. The platform operates as a bank-owned consortium that provides the infrastructure to facilitate the route of trades from clients to liquidity providers. It aggregates liquidity from a growing number of leading global banks, creating a deep pool of liquidity for its clients. The platform utilizes a no ‘last look’ trading model, providing certainty of execution to market participants.

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