oneZero snatches FXall General Counsel from LSEG

Rick Steves

“oneZero remains uniquely positioned to handle the scientific complexity of our business as we break new ground with our solutions and in new market segments.”

oneZero has appointed Jim Sullivan as General Counsel, where he will be responsible for the company’s global legal function, based in New York.

Jim Sullivan can be called a JP Morgan man. He joined the investment bank in 1986 and served there until 2001, serving as the transactional corporate/securities counsel.

At JP Morgan, he represented the internal business incubator division, responsible for spin offs and venture capital matters.

In 2021, he joined FXall as the General Counsel, where he guided the firm to become the industry-leading business-to-business FX trading platform with over 1,300 customers. FXall is now part of LSEG.

Behind key policy on MTFs and SEFs in the US

His wealth of experience in the legal side of the trading industry has been sought by committees involved in the governance and compliance of FX trading and overall financial regulation.

Jim Sullivan helped the Federal Reserve Bank of New York’s Foreign Exchange Committee in designing policy relating to MTFs (multilateral trading facilities) and SEFs (swap execution facilities).

His legal experience also includes jurisdictional approval in several countries and customer agreements.

Jim Sullivan, oneZero’s General Counsel, commented: “I’m delighted to be joining the oneZero team at this exciting juncture. The firm has a portfolio of world class proprietary solutions and a rich vein of untapped intellectual potential. As such it is perfectly placed to expand on the impressive achievements to date. I’m looking forward to working with the senior management, stakeholders and all my colleagues to help take the firm to the next level.”

Andrew Ralich, Co-Founder and CEO of oneZero: “We feel extremely privileged to have Jim join the company. We are very excited to be bringing on a General Counsel with such valuable experience across the Institutional FX space, coupled with a history of working with highly complex systems in both academia and throughout his career. oneZero remains uniquely positioned to handle the scientific complexity of our business as we break new ground with our solutions and in new market segments.”

oneZero on ‘last look’, liquidity, and price creation

oneZero has become an industry favorite for its innovation in multi-asset class trading technology for over a decade.

Last year, the fintech firm launched its Institutional Hub and has recently announced the launch of analytics that help clients evaluate the impact of last look.

The ‘last look’ allows market makers ‎get a final opportunity lasting a few milliseconds to reject an order after a client ‎commits to a trade at a quoted price. ‎

oneZero’s last look insights are available in its Data Source Insights product. In essence, it increases transparency for liquidity consumers on the other side of a trade who are now able to compare the reject rates at liquidity providers on a relative basis.

Its Algorithmic Pricing Module, a price creation tool that facilitates the formation of customized pricing using brokers’ own data constructs and algorithms, has also found strong demand among broker clients.

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