Integral Press Release
Migration of Liquidity to Major Bank eFX Trading Systems Using Integral's FX Inside™ Technology Spotlights Growing Preference for Private Trading Systems
Jon Barker recruited from Citi to manage global growth
MOUNTAIN VIEW, Calif. — (September 25, 2007) — Integral Development Corp. announced that it had recruited Jon Barker from Citi in London, where he was Director of Fixed Income eCommerce Sales for Europe and Asia-Pacific. At Integral, he is Vice President, Worldwide Sales, a newly created position.
Harpal Sandhu, CEO of Integral, said: "In the two years since the system-wide deployment of FX Grid® and the launching of FX Inside™ the network has systematically gained ground among tier-one bank traders and other institutions to a point today where we are now a preferred e-forex trading solution."
As a result, Integral, which has grown to more than 200 professionals in six locations around the world, is expanding both the size and scope of its sales and service operations under Mr. Barker.
Mr. Barker said: "Having been closely involved as an early adopter of Integral's electronic FX technology, I'm very optimistic about the potential for the company's distinctive model."
"The positioning of FX Inside as a neutral facilitator of inter-institutional forex trading rather than acting as a principal in an ECN means that Integral does not compete with its own clients," he added.
Mr. Barker joined Citigroup in 1999 from Brocker Investments and occupied several senior managerial positions. He will be based in Integral's London offices with the remit to direct global sales operations across the capital markets.
"Jon's appointment is fundamental to our growth strategy of fielding seasoned professionals with contacts and intimate knowledge, not only of trading technology needs but also the culture and practices within the world's most liquid and complex trading environment," Mr. Sandhu noted.
FX Grid is a global inter-institutional connectivity and trading network linking market making banks and more than 200 financial institutions to each other's processing systems with the ability to configure and operate each banks own private, virtual trading system.
FX Inside is the industry's first forex market trading system that aggregates FX prices into one executable application. To those seeking a scalable, robust solution, FX Inside (and FX Inside Plus) offer a complete liquidity sourcing and distribution system by consolidating liquidity from multiple sources into a single stream delivered with zero market risk to customers under a sponsoring institution's branding.
About Integral
Integral is the industry leader in providing:
- Market Makers with new channels;
- Financial institutions with optimized liquidity;
- Banks, Brokers, and Dealers with proprietary Private White Label FX trading systems.
Integral solutions are delivered, operated and managed as Software-as-a-Service (SaaS) applications operating on the Integral FX Grid. Founded in 1993, Integral employs more than 200 professionals and maintains development, support and sales offices in Silicon Valley, Chicago, New York, London, Tokyo and Bangalore. Investors include Accel Partners, Bank of America, ABN Amro, Hudson Ventures, Bain Capital and AIG.
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