David Ogg, founder and former CEO of both Hotspot FX and LavaFX, is launching Ogg Trading, a provider of advanced execution solutions to the global financial services community. David Ogg brings over 25 years of FX and capital markets experience to his latest venture.
Ogg's accomplishments include being the first to pioneer anonymous FX trading via the prime brokerage community while at HotspotFX, the first to deploy an FX ECN to the buy-side institutional community, and the first to apply sophisticated execution algorithms to the FX ECN market.
In addition to launching and successfully managing the growth of HotspotFX and LavaFX, Ogg previously also managed FX trading rooms at Credit Suisse, HSBC, Lehman and Dresdner. "Our goal at Ogg Trading is to help our clients significantly improve their profitability by providing them with a major competitive edge," explained David Ogg, CEO of Ogg Trading.
He added: "Best execution standards in FX are not where they need to be and have consistently lagged behind other markets. When traders calculate the cumulative effect of not achieving best execution they realize this has a major impact on their bottom line. It is our mission at Ogg Trading to bring new profit-enhancing tools and technologies to market that will allow participants to gain execution capabilities that are not available to them in today's marketplace, and we're very excited about that."
Joining New York-based Ogg Trading as COO and head of sales in the new venture is Michael Kahn, a 25-year veteran of the FX and capital markets industry. Prior to joining Ogg Trading, Kahn spent more than 13 years with State Street Global Markets where he managed the rapid growth of the firm's FX trading businesses both in the U.S. and Europe.
Prior to State Street, Kahn held senior trading and management positions at Lehman Brothers and Credit Suisse, where he first met and worked alongside David Ogg.
Ogg Trading has also established a strategic partnership with Pragma Securities, provider of advanced quantitative and algorithmic trading tools. Pragma is investing expertise, resources and technology into Ogg Trading, allowing the firm to leverage Pragma's technology and expertise, according to a release.Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio