eFX pioneer joins the board of Barracuda FX

Press Release

eFX pioneer joins the board of Barracuda FX

  • Mark Redwood, a pioneer in foreign exchange trading technology, joins Barracuda FX as board member
  • Appointment is part of company’s plans to accelerate its growth

Dublin, 17 January 2013 – Mark Redwood, former President of Sales & Trading at Thomson Reuters and the founder of AVT Technologies, has joined the board of Barracuda FX.

Barracuda FX is a provider of OMS technology to the FX industry. Because of its easy-to-use interface and easy integration with other systems, it has been adopted by top and mid-tier banks, which recognise the importance of Order Management as a core component of their eFX strategy. The system allows banks to reduce their sales and trading costs while at the same time improving overall control and efficiency in managing orders.

Redwood’s appointment in December 2012 is part of Barracuda FX’s plans to accelerate growth and establish themselves as the industry leader for OMS technology.  Kieran Fitzpatrick, CEO says of Redwood’s appointment: “More than anyone, Mark understands the challenges of building a technology business in the FX industry.  His integrity, experience and our shared values make him the ideal person to help us guide the company through the next stage of growth, and we are delighted to have him join our board of management.”

Redwood comments: “Technology continues to push boundaries in the FX industry and Barracuda FX’s innovative Order Management technology has really impressed me.  They are a forward-thinking company with much more to bring to the market and I am excited to be part of their OMS revolution.”

Until the end of December 2010, Mark was President of Sales & Trading at Thomson Reuters.  From 2006 he was CEO of Reuters Transaction Services and also a non-executive director at Tradeweb.  He joined Reuters in December 2002 following its acquisition of AVT Technologies, a pioneer in foreign exchange transaction technology, which Mark founded in 1989. As CEO of AVT, Mark built a blue-chip customer base that at the time included leading global financial institutions such as ABN AMRO, Bank of New York, Dresdner Kleinwort Wasserstein, JP Morgan and UBS.

About Barracuda FX

Barracuda FX is a provider of OMS technology to the FX industry.  Founded in Ireland in 2009, the management team has combined experience of over 100 years of FX technology development, which enables us to deliver world-class solutions that address operational efficiency and improve bottom line trading revenue.

Our technology has been adopted by top-tier and mid-tier banks that recognise Order Management as key to their FX strategy, and is the bridge that links auto-execution with voice orders.  It is currently available for in-house deployment in a bank’s own environment and will also be available as a managed service in early 2013.

Barracuda FX was recognised as the Best Order Management system by Profit & Loss in 2011 and 2012.

For media queries contact Martina Doherty on +44 (0) 7951 057146

 


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