Exclusive FNG… FNG has learned that market maker and algo trading firm XTX Markets has hired Tim Throsby to its board of directors. Tim Throsby will sit as a non-executive director on the boards of both XTX Markets Limited and XTX Markets Trading Limited.
Tim Throsby is a career investment and commercial banker, working at Macquarie, Credit Suisse, Goldman Sachs, Lehman Brothers, Citadel and JP Morgan, where he was Global Head of Equities before leaving JP Morgan in 2016. He then moved to Barclays, where He was CEO of Barclays Bank Plc as well as CEO of Barclays International.
For the past two years Tim has been working with mid-market investment firm Phoenix Merchant Partners based in London and New York.
XTX Markets is a quantitative online proprietary trading and market trading firm covering a variety of types of financial instruments. The company is also a leading provider of FX liquidity for e-Spot and Forwards. XTX Markets had (by its own standards) a down year in 2023, posting revenue of £2.0bn (down 19% from 2022) and net profit of £835m (down 24% year-on-year). XTX was founded and is majority owned by mathematician Alex Gerko, who previously led the marketing team at GSA Capital.