FX HedgePool is transforming the world’s largest financial market with its FX swap matching platform. The platform, which enables direct trading between institutional investors, has matched more than $3.2 trillion of FX swaps since inception. We spoke with its Co-founder, Emin Tatosian, to find out how they’ve achieved so much in less than 2 years.

‍

What is 10X Innovation Velocity?

I see it as the rate at which a team releases new products that deliver deep and meaningful value to users. ‘10X’ refers to a rate that is an order of magnitude faster than competitors at this. For instance, while incumbents in our industry manage an average of three product releases each year, FX HedgePool achieves around 30. It’s an incredibly exhilarating mode to operate in and one that powers transformational change.

How have you achieved this blistering rate of innovation?

It’s the result of a deliberate and methodical effort to architect a team and an environment that encourages and facilitates rapid innovation. We’ve spent the past 2 years curating a team that’s comprising of young talent and seasoned industry specialists – an essential balance for rapid and insightful product development. In addition, we’ve carefully selected modern tools and techniques that support a well-rehearsed process for quickly bringing ideas to life. All of this is guided by our core product development principles, such as an unwavering focus on client needs and caring deeply about quality. Finally, achieving and maintaining this level of speed and agility must be an ongoing effort, otherwise hard-earned gains tend to quickly erode away.

How has FX HedgePool harnessed the power of 10X Innovation Velocity to tackle a market structure challenge dating back over 200 years?

Reshaping an established industry takes an immense amount of persistent effort. While our journey is guided by a desire to modernize the FX market for the betterment of all, it’s filled with thousands of micro trials and errors. The freedom to challenge conventional ideas, to propose novel solutions, and rapidly deliver them to clients are central to effecting change of this magnitude.

Doing so at a more pedestrian pace would take too long or simply not deliver enough change to make a difference. So, we’re always pushing to deliver products in days and weeks, rather than months and years. Our first prototype of a platform enabling direct trading between institutional investors was designed and developed in just four weeks. The minimum viable product that followed and facilitated the first ever live peer-to-peer FX swaps trade was built in 16 weeks.

It’s this high rate of productivity that attracts enthusiastic collaboration from clients and industry experts, not to mention talented technologists and domain experts who want to leave their mark on the world’s largest financial market.

What’s next for FX HedgePool?

We’re an intentionally compact team with an audacious plan to transform the financial markets. Our technology enables institutional investors to source liquidity directly from one another, while banks optimize their balance sheets. This strips out unnecessary costs and improves performance for underlying investors. Guided by this “win-win-win” commitment and a world-class execution capability, we’ll continue to find and solve market inefficiencies using cutting-edge technology and 10X Innovation Velocity.

‍

E-Forex article HERE.