17 October 2017

FX Solutions hires Saxo Bank's Daniel Darst as global head of partnerships

09 July 2007  |  1626 views  |  0 Source: FX Solutions

FX Solutions, an IT-driven online foreign exchange brokerage auto-executing almost 99 percent of customer trades, today announced the hiring of Daniel Darst as Executive Director of Institutional and Partner Business.

Darst joins FX Solutions from Saxo Bank, where he oversaw the rapid growth and development of the bank's white label business as Executive Director and Global Head of Partnerships.

In his new role, Darst will expand the company's "white label" offering, identifying and recruiting licensed financial services firms which share FX Solutions' commitment to efficient trading, e-commerce and customer service. He will also be responsible for increasing the number of introducing brokers, commodity trading advisors and commodity pool operators utilizing the platform.

"FX Solutions' success is based on leveraging technology to improve transparency and enable automation," said Robert Cortright, managing partner of FX Solutions. "Daniel brings a very strategic, focused approach that will ensure that we partner with firms that share this commitment to technology."

To differentiate its white label business, in which organizations offer FX Solutions' platform under their own brand identities, Darst will soon introduce new value-added services to aid those firms in marketing, sales, staffing and customer support.

"FX Solutions made its name through innovation, customer service and a truly world-class trading platform," said Darst. "I expect to do the same with the white label business and look forward to driving our partners' growth in the forex trading marketplace."

Retail forex trading volume is estimated at $50 billion per day, according to a February 2007 report from UK-based research firm ClientKnowledge. As a result, banks are increasingly evaluating how to best offer forex trading capabilities to their retail customers. Many of these firms find white labeling to be a successful way to speed up the process.

"The opportunity in retail FX is real for banks, but they cannot easily catch up with retail platforms by building internally," said David Poole, COO and Principal of ClientKnowledge, in the report. "Banks have growing confidence that white labeliing is feasible as an accelerator into the retail market, bringing additional revenue and making them attractive to a larger client base."

On April 12, 2007, FX Solutions received an investment in excess of $100 million from Francisco Partners.

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comRegister nowvisit www.vasco.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
14889 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8187 views comments | 15 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7501 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
6814 views comments | 13 tweets | 7 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6142 views comments | 8 tweets | 16 linkedin

Featured job

A minimum of £200K (not a limiting factor)

Find your next job