[Startup Interview] Paul Foley, CEO, CTEX Markets, UK
CTEX Markets is a financial services technology company with operations in UK, Switzerland, Cyprus, Latin America and the United States.
It solves the problem of lack of financial infrastructure in the digital asset space by providing access to multi venue liquidity for traders. Some of the services it offers include trade routing, price aggregation, AI based market analysis and reporting solutions. The startup’s CEO Paul Foley explains.
Tell us a bit about your startup?
CTEX Markets is a financial services technology company that adds tangible value to financial institutions by reducing the friction of inter-platform trade of digital assets while providing a unique set of solutions that give asset managers a distinct technical and fundamental advantage.
Who are the founders and what are their professional backgrounds?
The company was started in 2019 by Paul Foley who is now the CEO and Darrell Coleman who is the COO.
Pauls' background is financial services, including banking, trading and wealth management. Coming from a technology background, Paul specializes in real time trade systems across multiple asset classes in both institutional and retail environments.
Darrells' background is also technical but he specializes in cyber security. This has been in fortune 500 companies and financial institutions.
Where is CTEX Markets located?
CTEX Markets is registered in London, England but operates out of the UK, Switzerland, Cyprus, Latin America and the United States.
How is it financed?
Through Pre-seed and bootstrapping.
Why did you start CTEX Markets? What opportunities did you see?
We saw that in the digital assets market a number of the tools and systems that make trading possible were not present or not developed to an institutional level. This meant that adoption of the technology would be challenged and the risk for anyone in this market would be high. We decided that we could implement the financial services infrastructure that would aid adoption while ensuring the success of asset managers, hedge funds and proprietary traders.
What problem or problems does CTEX Markets solve?
Our company solves the problem of lack of financial infrastructure in the digital asset space, and we do this by providing access to multi venue liquidity for traders.
What gives CTEX Markets the competitive edge?
We offer trade and risk tools such as arbitrage by default (we'll tell you where opportunities exist in near real time) and AI based sentiment analysis. We're also the only platform that allows asset managers to trade on either clients’ accounts directly or via the typical fund management route.
Who forms your customer base?
Our target customers are asset management companies, family offices, hedge funds and proprietary traders.
What does CTEX Markets need in order to grow?
In order to grow our company needs to expand its' sales network and limited funding.
What is your growth strategy?
Our companys' growth strategy is based on market penetration as we are fortunate enough to operate in a global industry within a growing asset class.
In which markets are you looking to establish your presence?
We are looking to develop initially in Latin/south America, North America and Europe.
Latin/south America is currently under-served for financial infrastructure in general although digital assets are taking off there. Europe/USA is a well-established hub for asset managers/family offices and represents an established, mature market.
What are your plans for the coming 12 months?
Grow our client base to 100 clients.
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