FNG Exclusive… FNG has learned that Alan Scott has left 24-hour, OTC product trading platform 24 Exchange, to found his own startup in the sector, called Smart Money.

Alan Scott joined US based 24 Exchange three years ago as its Managing Director for EMEA out of London. He had previously worked in the institutional FX world as Managing Director, Enterprise Solutions for Integral Development Corp, and as Global Head Product and Liquidity at Deutsche Borse’s 360T.

Smart Money is partnering with 24 Exchange to provide a multi asset OTC Brokerage that enables intelligent trading of large positions and Synthetics (two or more linked trades) using hybrid Voice/Algo technology (Smart Trader Cockpit), with 24 Exchange as liquidity partner.

The company is starting with FX Spot and FIXING, and plans on adding on FX NDFs, FX Swaps/Forwards and Crypto in the near future.

Mr. Scott posted the following note on social media regarding his plans for Smart Money.

Delivering beyond Best Execution to Intelligent Execution with the lowest possible market impact for Banks, Brokers, Hedge Funds and Asset Managers.

Where we come from: Our highly experienced Brokers decided in partnership with 24 Exchange to create something new.  By combining Voice, Algo Execution and Liquidity into a single trading platform.

Who we are: We are a hybrid voice/electronic desk that has access to most of the liquidity we have dealt with over many years and now have added 24 Exchange and other sources of new liquidity.

What we do: Initially our focus is Spot and fixing but we will soon be offering other FX products such as NDF and Swaps/Forwards.  Both on desk and via API/GUI.

How we are going: We are getting great feedback and support from our long-standing customers (Tier 1 and 2 Banks) and a really positive reaction from new ones. It seems a lot of people are keen to explore how they can enable Intelligent as well as best execution.

Why we are doing it: In a fragmented and often noisy market our team of highly experienced and professional Brokers will provide you with a high touch, customised service combined with high tech execution to ensure optimal price discovery and confidentiality of execution.

Liquidity: We access liquidity off market and anonymously across the Buy side, Sell side and Real Money via Voice and API. We use 24 Exchange Liquidity and Infrastructure as a foundation to ensure you will always get done even in difficult markets (non disclosed electronic execution).