FX Bridge Technologies, Corporation today announces that Farid Naib, an entrepreneur with an extensive background in foreign exchange technology, has joined the firm's Board of Directors.
Mr. Naib was previously Co-President of FX Systems, an early FX options pricing system, and founded FNX Solutions, which provides financial technology to global and regional banks as well as corporations and hedge funds. "We are pleased to welcome Farid to our Board of Directors," said Steve Reich, CEO, FX Bridge. "With his long experience and record of successful technology innovation, Farid will be an invaluable advisor to the firm as we work with leading brokers to develop and launch cash foreign exchange options trading for individual traders globally." Mr. Naib first became involved with FX technology in 1985 in his role as Co-President of FX Systems, one of the first firms to offer American Style option pricing on FX options. FX Systems became the dominant supplier of FX option software for the Philadelphia Stock Exchange, which at the time was the primary source of FX option liquidity.
In 1992, Mr. Naib founded FNX Solutions, which provided financial technology to a large number of firms, including top tier global and regional banks, corporations and hedge funds. FNX provided global FX option trading systems to firms such as Deutsche Bank, Credit Suisse, UBS, Citibank, Bank of America, Sakura, Republic National Bank, Bear Stearns, AIG, and others. FNX was sold to GL Trade in 2007 where Mr. Naib remained a member of management until the firm's acquisition by SunGard in 2008. Mr. Naib is an active entrepreneur and is currently CEO of Document Depository Corporation. He has served as an Entrepreneur-in-Residence at the University of Pennsylvania's Wharton School. He was also an original investor in, and served on the board of, Gain Capital.