A significant transition occurred recently at a liquidity provider that was established last year, with the departure of one of its co-founders. The firm publicly shared the news last Friday, indicating that while the individual is leaving, there remains an open door for a potential return in the future.
In a statement, the former co-founder expressed that even though he is stepping back, he will always consider himself part of the company’s community. Meanwhile, details about his next professional move are currently unspecified.
The firm was co-founded in early 2024 with the aim of supplying liquidity to forex and contracts for difference (CFD) brokers. As highlighted on the company’s website, it features liquidity offerings for over 2,500 financial instruments spanning eight asset classes, which include forex, stocks, indices, energies, metals, and non-deliverable forwards (NDFs).
Not long after the firm’s inception, a new CEO was appointed, marking a strategic enhancement in leadership. The CEO, along with a new Chief Operating Officer, both previously held significant roles at another firm, bringing valuable experience to the new venture. The CEO remarked on the former co-founder’s substantial role in shaping the company, emphasizing the lasting impact he had during his time there.
The individual who recently departed has extensive experience within the retail trading industry, having spent over a decade in various capacities. Prior to the establishment of the liquidity provider, he served as the Director of Business Development at oneZero for more than seven years and also contributed to PrimeXM as its Global Business Development Manager for just over two years.
Interestingly, this change in leadership coincides with the firm’s growth in the Middle East and North Africa (MENA) area. The company noted its ongoing commitment to delivering high-quality liquidity solutions to brokers and institutional clients worldwide, referring to the strong team and recent expansions in the MENA region following the departure of the co-founder.
Overall, while the exit marks a notable shift for the firm, the messages from both the departing co-founder and current leadership suggest a mutual respect and an enduring connection, hinting at possible future collaboration.