Deus X Capital announced the launch of Deus X Markets, a new company that will form the trading arm of Deus X Capital. Iit will be led by CEO Tim Plummer and aims to become a top-20 broker technology provider by revenue through lowering industry barriers to entry for individuals and businesses seeking to establish trading brokerages.
Its initial Brokerage as a Service product will deliver core front, middle and back-office administrative functions enabling clients to focus on business growth and returns. The business is investing heavily into its data-driven strategy which will provide broker clients with greater insights into client acquisition and performance strategies.
Plummer brings more than 20 years’ experience in the finance and trading industries. He was previously head of Product Strategy at Capital.com and held a number of senior positions at IG, including head of Platform Innovation and head of Integrated Trading Platforms, during eight years at the business.
“There is a broad failure by broker technology providers to properly support new operators which means the trading industry remains a closed-door club with high barriers and significant failure rates for new entrants,” Plummer said in a statement. “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.”
Tim Grant, CEO of Deus X Capital, has been appointed chair of Deus X Markets and brings a wealth of institutional trading experience from across the Deus X Capital group, including liquidity provider Alpha Lab 40 and TradeLocker. Deus X Markets will also benefit from partnering with businesses from across the Deus X Capital Group, including payments business Deus X Pay and digital assets lender Cor Prime.
Grant said in a statement: “We are committed to creating a better, fairer financial system by investing in and operating companies that are challenging the status quo in established industries. This new company will breathe new life into a stagnant trading industry that has been resisting change for decades.”