Peer-to-peer currency exchange for corporates and individuals, freemarketFX has appointed Charlotte Crosswell to its Board as a non-Executive Director.
From 2013-2016 Charlotte Crosswell was CEO of Nasdaq NLX and on the Board of the LCH Limited. With significant management and Board level experience in regulated marketplace and exchange environments, her appointment bolsters the board of the growing FX business. She joins the Board chaired by former Barclays Investment Bank CEO, Rich Ricci.
Founded by former Credit Suisse First Boston and Deutsche Bank vice president and director Alex Hunn, freemarketFX has developed a robust and secure currency exchange platform enabling technological benefits to be used to significantly reduce transaction costs for the benefit of its customers.
Charlotte Crosswell said, “I am delighted to be joining freemarketFX at such an exciting time for the company. With SMEs and high net worth individuals continuing to face significant costs from their currency transactions, freemarketFX is ideally positioned to offer a solution for reducing costs through the application of exchange principles and innovative technology practices”.
Alex Hunn, Founder and CEO added: “To attract someone of Charlotte’s caliber to our Board is a strong endorsement of our product and progress. The company is achieving significant growth and Charlotte will focus on ensuring this continues”.
freemarketFX is an FCA authorised currency exchange. freemarketFX has created a marketplace where both companies and individuals can directly match their currency requirements with other users for a fixed commission charge of 0.2% - a rate much lower than traditional foreign exchange (FX) charges.
This increases efficiency and significantly reduces costs. By using this innovative approach, our customers generate supply and demand for currency pairings (not the banks), which influences the efficiency of our marketplace. The benefits of which are then shared equally amongst all members.
freemarketFX is unique in that we are the only company in our sector that operates ‘scheduled exchanges’. Our technology platform operates as more of a settlement system; so, all customer requirements are executed and fulfilled at specific times, rather than individually. This model significantly reduces operational cost, and typical of a true exchange environment, all parties benefit from total transparency, uniform pricing and fair trade.