The Global Markets Exchange Group International (GMEX) has announced its launch, with plans for four markets.
GMEX is co-founded by Hirander Misra, former COO of Chi-X Europe, and Vijay Angelo, former co-head of fixed income at Vantage Capital Markets, who will take on the roles of CEO and president respectively. James Davies, former head of sales for Trayport, joins as COO. The group will have three divisions─GMEX for the exchanges, GDI for global benchmarks, and GMEX Tech, for technology and consulting.
GMEX will focus on instruments that are moving from an over-the-counter (OTC) basis, to an exchange-traded model under global reform efforts underpinned by Group of 20 (G20) mandates. According to company literature, the group is planning to offer four exchanges, pending UK Financial Conduct Authority (FCA) approval to operate as a multilateral trading facility (MTF). These will be the London Derivatives Exchange, Global Securities Exchange, Global Derivatives Exchange and Global Commodites Exchange, based in London.
The company is launching its consulting, technology and index divisions immediately.
WatersTechnology attended the Futures Industry Association's annual conference in Boca Raton, Florida. These are the takeaways.Subscribe to Weekly Wrap emails
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