The development follows BlueX being granted its licence by the Jersey Financial Services Commission (JFSC).

The platform offers trading tools and workflow automation, providing global institutional market participants versatile and efficient trading solutions.

BlueX offers the integration of third-party applications directly into its trade flow. This interconnected ecosystem claims to simplify execution and make decision-making easier for traders, with data and analytics built into every trade.

“By combining advanced core platform features with third-party trading tools directly into the end-user workflows, BlueX delivers a unique value proposition that sets it apart from other execution management systems,” said Graham MacGregor, chief executive of BlueX.

“Optimising execution decisions, while supporting flexibility and customisation, is central to our mission.”

To deliver its platform’s capabilities, BlueX has developed a number of strategic partnerships, including the integration of critical trade data from Tradefeedr; the sole regulated FX benchmark price feed for spot and forward trades from New Change FX; and the facilitation of rapid onboarding of liquidity providers through Lucera.

Owned by BlueCrest Capital Management, BlueX uses technology and systems that have been developed and tested over the years by BlueCrest, with trillions of dollars executed.

“Requests from demanding BlueCrest traders, combined with partnerships with best-in-class data and analytics providers, have led, over many years, to an optimised, robust trading tool supporting trillions in FX yearly,” said Manuel Aranzana, head of systematic trading at BlueCrest.

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Tourmaline Partners hired three new seasoned financial markets executives as managing directors to help strengthen its global trading capabilities. With the additions of Simon Bradley, James Williams and James Kirk the firm is set to continue its expansion across Europe. Bradley will be responsible for building out Tourmaline’s equity derivatives franchise across Europe, while Williams will be responsible for covering clients on global cash equities execution, building on his two decades of experience in the area. Elsewhere, Kirk is set to oversee and enhance Tourmaline’s services in support of asset managers globally as part of his new role.

BlueCrest Capital Management’s new company, FX trading technology platform BlueX, has appointed Graham MacGregor as chief executive officer. MacGregor joins from the London Stock Exchange Group (LSEG), where he most recently served as chief executive of FX transactions. Elsewhere in his career, MacGregor was EMEA head of sales and relationship management and chief executive, FX MTF business at Refinitiv. Set to launch in the next few months, Blue X utilises BlueCrest developed technology and systems to offer a platform that is ‘inspired by traders, for traders’.

Kepler Cheuvreux Execution Services (KCx) appointed Seb Klatt as program trading (PT) sales trader. London-based Klatt is set to join from Jefferies on 1 October, having most recently served as senior vice president for 12 and a half years, working across PT and low touch.  Prior to this, he worked in an execution sales and account management role at Société Générale, and before that was VP of sales trading at Merril Lynch. 

Frédéric Benizri left TP ICAP to join financing, investment and risk management business CIC Market Solutions as a sales trader. His most recent role at the inter-dealer broker was as a cross asset sales trader, having spent seven years with the business. Benizri also previously worked in convertible bonds and equity derivatives flow sales at Citi for three and a half years, at the time based out of London. Prior to that, Paris-based Benizri worked for UBS, in a structured products sales role.

Legal & General Investment Management (LGIM) expanded its footprint across Asia with the opening of its new Singapore office, with the addition of new key appointments. Gerald Koh was appointed head of wholesale Asia (ex-Japan), a role he has held since 1 August. Elsewhere, Heston Goh joined the firm as sales director, South East Asia institutions, on 1 September.

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MacGregor joins from the London Stock Exchange Group (LSEG), where he most recently served as chief executive of FX transactions.

Elsewhere in his career, MacGregor was EMEA head of sales and relationship management and chief executive, FX MTF business at Refinitiv.

Set to launch in the next few months, Blue X utilises BlueCrest developed technology and systems to offer a platform that is ‘inspired by traders, for traders’.

When launched, BlueX aims to provide a range of trading tools to offer global institutional market participants versatile trading solutions and workflow automation in one application.

“BlueX will aim to set a new gold standard in FX trading. BlueX’s commitment to integrating data analytics lies at the heart of its mission to empower traders to achieve optimal execution decisions in both a normalised and fast-paced FX market,” said MacGregor.

Among the key features the platform aims to provide are unique data driven execution for value generation; versatility in trading solutions; integrated workflow automation and access to multiple FX liquidity pools.

BlueX’s launch is subject to regulatory approval from the Jersey Financial Services Commission.

 “The platform became the single execution venue for FX at BlueCrest thanks to its unique trading features and tools requested by the BlueCrest portfolio managers using it daily,” said Manuel Aranzana, head of systematic trading at BlueCrest Capital Management.

“BlueX is a mature, stable, and sophisticated solution and we are excited to pass on its legacy to an independent executive team, ably led by Graham MacGregor to harness its potential to revolutionise the trading landscape.”

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