FNG Exclusive… FNG has learned that market maker and algo trading firm XTX Markets has recruited Tim Throsby to its board of directors. Tim Throsby will sit as a non-executive director on the boards of both XTX Markets Limited, and XTX Markets Trading Limited.
Tim Throsby is a career investment and commercial banker, working at Macquarie, Credit Suisse, Goldman Sachs, Lehman Brothers, Citadel, and JP Morgan, where he was Global Head of Equities before leaving JP Morgan in 2016. He then moved to Barclays, where he served as CEO of Barclays Bank Plc as well as CEO of Barclays International.
For the past two years Tim has been with London and New York based middle market investment firm Phoenix Merchant Partners.
XTX Markets is a quantitative-driven electronic proprietary trading and market-maker firm covering a variety of financial instrument types. The company is also a leading FX liquidity provider for e-Spot and Forwards. XTX Markets had (by its standards) a down year in 2023, posting Revenues of £2.0 billion (down 19% from 2022) and Net Profit of £835 million (down 24% YoY). XTX was founded and is majority-owned by mathematician Alex Gerko, who formerly headed up the market-making team at GSA Capital.
