Exclusive: FXSpotStream names Tom San Pietro Interim CEO, replacing Alan Schwarz
FNG Exclusive… FNG has learned that multibank FX price streaming services provider FXSpotStream has named Tom San Pietro its Interim CEO. He replaces co-founder and CEO Alan Schwarz who is leaving the company in what seems like an abrupt / unplanned move just after FXSpotStream exited its most successful year ever, establishing itself as a leading institutional eFX venue.
Tom San Pietro has served as Chief Technology Officer (CTO) of FXSpotStream for the past six years, joining in 2017 after working as Head of FX/MM Trading Venues for Thomson Reuters, responsible for the firm’s anonymous FX exchanges as well as the relationship trading based streaming rates platform. He had also previously worked at FXall (prior to its acquisition by Thomson Reuters), LavaFX, and JPMorgan Chase.
FXSpotStream’s clients include several of the FX/CFD non-bank liquidity service providers, as well as some of the larger brokers. Launched in December 2011, FXSpotStream eliminates the costs of execution for price takers and offers banks and clients the ability to interact bilaterally and in a fully transparent manner. Banks connected to FXSpotStream serve as Liquidity Providers to clients. Clients can access a GUI or single API from co-location sites in New York, London and Tokyo and can communicate with all Liquidity Providing banks connected to FXSpotStream. FXSpotStream also offers access to all of the Algos of the FXSpotStream liquidity providers over both its API and GUI, and supports pre- and post-trade Allocations.
FNG received the following note from FXSpotStream on the matter:
The Board of Directors of LiquidityMatch LLC, the parent company of FXSpotStream, is pleased to announce that it has appointed Tom San Pietro as Interim CEO of the Company.
Tom is a senior executive with deep experience in developing and managing electronic FX trading systems and businesses. Following a successful career with technology vendors and major sell side FX trading technology departments, Tom joined LavaFX as its CTO and built the technology team that designed and developed an institutional FX ECN.
After becoming CEO of LavaFX and growing the business substantially, Tom worked in partnership with the investment banking division of Citi to manage the successful sale of the business to FXall. At FXall, Tom served as head of product management. As a member of the senior management team, Tom helped the firm through a successful IPO and its eventual acquisition by Thomson Reuters.
At Thomson Reuters, Tom led the effort to create the firm’s next generation FX trading desktop and trading APIs which integrated the FX trading capabilities of both Thomson Reuters and FXall as well as developing an FX aggregation strategy including EM and local market solutions for Russia, India, and China. Tom joined FXSpotStream as Chief Technology Officer in September 2017.
Earlier in the day, outgoing CEO Alan Schwarz posted the following note on social media.
As some of you already know, February 1st will bring the end of my journey at FXSpotStream, a company I co-founded and led as CEO for over 11 1/2 years. Will keep the drivers for this moment to myself for now, but time to move on and very much looking forward to the next chapter.
I am very proud of what we have built as an internal team at FXSpotStream. I have learned a great deal during this decade plus journey and have been fortunate to watch as people at the company have grown personally and professionally.
We have been extremely lucky to have the support of so many clients and vendor partners around the world as we have built a truly great business and brand from scratch. I thank every one of our clients and vendor partners who have been with us for so many years. I must recognize our incredibly supportive FX margin brokers in Japan who were there in the very early days in 2011 and have never left us. I will always be indebted to their loyalty and for making me feel part of their family. And, for those banks that have supported our business, thank you for helping us become the leading global disclosed streaming service to the FX market.
I wish only the very best to the global internal team at FXSpotStream. Thank you for your commitment and dedication to the company. Keep going and don’t let obstacles get in the way of doing great things! And, keep up the great level of customer support and responsiveness that we are recognized for in the market – it absolutely makes a difference!