FNG Exclusive… Following our earlier exclusive report that the two leading executives running the FX Prime Brokerage operations of Jefferies Financial Group Inc (NYSE:JEF) were leaving the firm to embark on a new venture in the crypto space, FNG has learned that the “new venture” is actually an institutional-focused cryptocurrency exchange, called Crossover Markets.

The two executives in question, Brandon Mulvihill and Anthony Mazzarese, were long-term senior employees at FXCM, who formed the FX prime brokerage desk at Jefferies, after Jefferies bought FXCM in 2015.

Joining Messrs. Mulvihill and Mazzarese in forming New York-based Crossover Markets is Vladislav Rysin, who worked for the past 10 years as a senior technologist at EuronextFX (formerly FastMatch). Mr. Rysin will be in charge of the technology component at Crossover, while Mr. Mulvihill will be CEO and Mr. Mazzarese Chief Commercial Officer (CCO).

On its just launched website (at crossovermarkets.com), the company describes itself as follows:

Crossover Markets Group, Inc is a digital asset exchange designed to meet the liquidity needs of institutional clients. The team consists of industry veterans with backgrounds in trading, technology, equities and foreign exchange from some of the largest financial institutions globally.

Crossover Markets plans to officially launch this summer.