XTX Markets is an

algorithmic trading Algorithmic trading is a method of executing orders using automated pre-programmed trading instructions accounting for variables such as time, price, and volume. This type of trading attempts to leverage the speed and computational resources of ...

company. It was founded on 30 January 2015 by Alexander Gerko who is currently co-CEO alongside Zar Amrolia.

History

The company was founded by Gerko in 2015, based in

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

. It was a spin-off GSA Capital. In 2016, XTX Markets was the ninth-largest liquidity provider in the

foreign exchange market The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspec ...

by volume; with a 3.87% market share. It was the first time a company that is not a

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

placed in the top ten of the ''

Euromoney ''Euromoney'' is an English-language monthly magazine focused on business and finance. First published in 1969, it is the flagship production of Euromoney Institutional Investor plc. History and profile ''Euromoney'' was first published in 19 ...

'' survey. It is part of a trend of non-bank traders taking

market share Market share is the percentage of the total revenue or sales in a market that a company's business makes up. For example, if there are 50,000 units sold per year in a given industry, a company whose sales were 5,000 of those units would have a ...

from banks. In 2017, the company became a non-clearing member of the

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...

. In 2018, it was the third-largest liquidity provider in the global foreign exchange market by volume; with a 7.36% market share. The company had 11.5% market share of European equity markets. Other activities included taking a stake in Aquis Exchange, setting up a foreign exchange 'pricing engine' in Singapore in conjunction with the Monetary Authority of Singapore and announcing it would be opening an 'EU hub' in

Paris Paris () is the capital and most populous city of France, with an estimated population of 2,165,423 residents in 2019 in an area of more than 105 km² (41 sq mi), making it the 30th most densely populated city in the world in 2020. S ...

. In 2019, XTX became the largest FX spot liquidity provider globally. In March 2020, XTX donated over £20m to charities fighting the effects of COVID-19 including NHS Charities Together, City Harvest and the AP-HP hospital.

Products

XTX is a quantitative driven electronic liquidity provider which partners with counterparties, exchanges and e-trading venues globally to provide liquidity in the equity,

foreign exchange The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all as ...

, fixed income and commodity markets. In 2018, XTX decided to opt into the systematic internaliser regime for European equities. In November 2019 XTX became the largest systematic internaliser by volume for European equities. In 2019, the company grew its market share in the U.S. and expanded into providing liquidity in U.S. Treasuries. In March 2021, the company began offering a single dealer platform for U.S. equities.Lananh Nguyen. Bloomberg reporter. (8 April 2021). "XTX Markets Opens U.S. Dark Pool After Growth in European Stocks"
Yahoo Finance website
Retrieved 8 April 2021.

References

Currency traders 2015 establishments in the United Kingdom Financial services companies established in 2015 Financial services companies based in London Corporate spin-offs {{UK-finance-company-stub