Deus X Capital, a $1 billion digital assets and fintech investor, announced today (Monday) the launch of Deus X Markets, a new brokerage technology provider aimed at transforming market access.
The newly formed company, helmed by former IG Group executive Tim Plummer, intends to challenge incumbent brokerage technology providers by offering comprehensive front-to-middle-back office solutions.
Deus X Capital Launches New Brokerage Technology Venture
The move represents a push to lower entry barriers in a heavily restricted industry.
“The trading industry remains a closed-door club with high barriers and significant failure rates for new entrants,” said Tim Plummer, CEO of Deus X Markets. “Our North Star is to make trading accessible and simple by offering clients fast, reliable set up and administration infrastructure that lets them focus on growth.”
“If you are thinking about establishing your own brokerage and want a no-nonsense partner that will actually help you get set up and level up your business development, get in touch,” Plummer added.
From IG and Capital.com to Deus X
Plummer brings over two decades of industry experience, including senior roles at Capital.com and eight years at IG Group, where he served as Head of Platform Innovation.
For the past year and a half, Plummer has worked as a Managing Consultant for Broker Scanner, previously serving as a Senior Associate at Vantage. His journey in the FX markets began with trading, having worked as a professional trader for companies such as Futuex Global, Sucdef Financial, and Marex.
The company’s initial Brokerage as a Service offering will incorporate data-driven strategies to enhance client acquisition and performance metrics.
Deus X Pay
“We’re committed to creating a better, fairer financial system by challenging the status quo in established industries,” Tim Grant, CEO of Deus X Capital, who will serve as Chairman of Deus X Markets, added. “This new company will breathe new life into a stagnant trading industry that has been resisting change for decades.”
Grant was appointed in September as the CEO of Cor Prime, a newly established digital assets prime brokerage unit supported by a $1 billion investment firm. The launch of the firm was officially announced following Deus X’s completion of its first equity funding round. Additionally, the company has allocated up to $100 million in risk capital to support the business.
The new venture will leverage synergies within the Deus X Capital ecosystem, including partnerships with Alpha Lab 40, TradeLocker, Deus X Pay, and digital assets lender Cor Prime.
This article was written by Damian Chmiel at www.financemagnates.com.Executive MovesRead More
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