TrueEX, which characterizes itself as the first designated contract marketplace for interest rate swaps, reports the appointment of Saro Jahani as chief information officer.
Additionally, Jim Miller, the company’s co-founder, will be “migrating from his current full-time role as head of product development at the company in April 2015 to become an advisor to the board of managers of TrueEX Group. Until then, Miller will complete his current efforts and provide support to Jahani as he assumes his new responsibilities,” according to a statement.
“Jahani will manage the entire spectrum of IT efforts at trueEX, including development and QA,” or quality assurance, the company says. He joins from Direct Edge, where he was CIO, and “responsible for driving technological innovation, reinforcing the systemic integrity of IT and implementing the firm’s latency and stability roadmap,” officials say.
In 2014, after Direct Edge merged with BATS Global Markets, Jahani played a pivotal role in the successful migration of Direct Edge’s two exchanges into a new data center and on to the proprietary technology of BATS Global Markets, officials say.
In its statement, Manhattan-based TrueEX emphasizes its rapid growth. The company says that overall Q1 2015 volumes for central limit order book, requests for quote, and portfolio termination and compaction have exceeded $80 billion, “which are up 13X versus the entire Q1 2014. Since launch, post-trade services have exceeded $4 trillion,” officials say. “The company has currently signed on 16 dealers; 12 clearing Firms and 60 buy-side firms.”
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