NEW YORK, NY, February 18, 2015 – trueEX, the first designated contract marketplace for interest rate swaps, announced today the appointment of Saro Jahani as Chief Information Officer. The appointment comes at a time of rapid growth for the company, which reported record activity on its platform in January 2015.
In his new role, Jahani will manage the entire spectrum of IT efforts at trueEX, including development and QA. He joins trueEX from Direct Edge, where as CIO he was responsible for driving technological innovation, reinforcing the systemic integrity of IT and implementing the firm’s latency and stability roadmap. 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.
“The appointment of Saro to the management team is an exciting development for our firm,” said Sunil Hirani, Chief Executive Officer of trueEX. “Not only does it reflect our continued commitment to deliver best-in-class derivative trading solutions, but it evidences the level of talent that is looking to join our innovative and leading marketplace.”
“I’m delighted to be joining trueEX at this pivotal time in their growth,” said Jahani. “As the leading new trading and processing platform for swaps, trueEX is delivering more efficient and open solutions than are available on legacy solutions. To be part of this winning team was an easy decision.”
The appointment of Jahani comes at a time of rapid growth for the company. Already, overall Q1 2015 volumes for CLOB, RFQ and PTC have exceeded $80 billion, which are up 13X versus the entire Q1 2014. Since launch, post trade services have exceeded $4 trillion. The Company has currently signed on 16 Dealers; 12 Clearing Firms and 60 Buy-side firms.
In addition to the appointment of Jahani, trueEX announced that co-founder Jim Miller 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 LLC. Until then, Miller will complete his current efforts and provide support to Jahani as he assumes his new responsibilities.