DIGITEC, the provider of D3, the Multi-Asset Pricing Engine and the DIGITEC/360T Swaps Data Feed (SDF), has announced the successful acquisition of Modular FX, the specialist provider of electronic trading technology and consulting services. As part of the acquisition the Modular FX Directors have joined DIGITEC. Stephan von Massenbach joined DIGITEC as Chief Revenue Officer in 2021, and Howard Grubb joined as Product Lead for electronic trading in July 2022.
“The FX Swaps market continues to evolve at pace. The most recent BIS Triennial Survey showed that FX Swaps increased to 51% of all FX volume, driven largely by automation and the further development of electronic markets,” said Peer Joost, CEO of DIGITEC. “As FX Swaps technology specialists we continue to invest in our services and enhance our electronic pricing and data products as demand for electronic trading increases. Howard and Stephan’s market and technical experience helps us to address the rapidly evolving needs of our clients head on.”