FX Swaps and NDF pricing and data company DIGITEC has announced the opening of its new London office, managed by Stephan von Massenbach who joins the firm as Managing Director, Chief Revenue Officer.

Part of DIGITEC’s global growth strategy, the Hamburg, Germany based company said that the new sales office is in response to a growing number of enquiries from banks and trading desks located in London. The office brings DIGITEC closer to its London-based bank clients and prospects, and offers access to many FX trading hubs.

In his new role Stephan von Massenbach will focus on business development and sales strategy. He has worked in FX for over 20 years, most recently as CEO of Modular Financial Technologies and Director of Modular FX, providing specialist FX e-commerce solutions and consultancy to banks and FinTechs. His extensive market experience includes working for Lloyds Bank as Head of FX eCommerce, and J.P. Morgan where he was Head of FX eCommerce Sales for Europe.

“We are very happy to open the London office and welcome Stephan to our growing team. He brings extensive experience of FX eCommerce sales and deep domain knowledge, business development expertise and a wealth of senior industry relationships,” said Peer Joost, COO of DIGITEC. “As FX swap volumes continue to grow we are seeing an increased demand from banks looking to automate and enhance their market making capabilities. Many of these trading desks and eCommerce teams are in London, making it an obvious location for our sales office.”

“Modular FX has worked closely with DIGITEC for the past year and I have seen first-hand the positive feedback provided by its 40 global clients,” said Stephan von Massenbach, CRO of DIGITEC. “Our London office allows us to accelerate business growth, capture the growing demand for automated FX Swaps and NDF trading and extend product coverage to include pricing Precious Metals, Interest Rates and Crypto assets.”

The new business strategy follows the appointment earlier in 2021 of Peer Joost to COO, where he is responsible for all business operations, reporting directly to the CEO. DIGITEC added that it plans to expand to new markets and target regional trading banks, to enhance their market making capabilities with DIGITEC’s market-leading D3 product and Swaps Data Feed (SDF), a Joint Venture with 360T.

DIGITEC is a specialist provider of FX Swaps technology and data. It has over 40 bank clients globally, including more than 50% of the Euromoney Top 50 FX trading firms.