XTX Markets
XTX Markets is an algorithmic trading company. It was founded on 30 January 2015 by Alexander Gerko who is currently co-CEO alongside Zar Amrolia. History. The company was founded by Gerko in 2015, based in London. It was a spin-off GSA Capital. In 2016, XTX Markets was the ninth-largest liquidity provider in the foreign exchange market by volume; with a 3.87% market share. It was the first time a company that is not a bank placed in the top ten of the "Euromoney" survey. It is part of a trend of non-bank traders taking  market share from banks. In 2017, the company became a non-clearing member of the London Stock Exchange. In 2018, it was the third-largest liquidity provider in the global foreign exchange market by volume; with a 7.36% market share. The company had 11.5% market share of European equity markets. Other activities included taking a stake in Aquis Exchange, setting up a foreign exchange 'pricing engine' in Singapore in conjunction with the Monetary Authority of Singapore and announcing it would be opening an 'EU hub' in Paris. In 2019, XTX became the largest FX spot liquidity provider globally. In March  2020, XTX donated over £20m to charities fighting the effects of COVID-19 including NHS Charities Together, City Harvest and the AP-HP hospital. Products. XTX is a quantitative-driven electronic liquidity provider which partners with counterparties, exchanges and e-trading venues globally to provide liquidity in the equity, foreign exchange, fixed income and commodity markets. In 2018, XTX decided to opt into the systematic internaliser regime for European equities. In November 2019 XTX became the largest systematic internaliser by volume for European equities. In 2019, the company grew its market share in the U.S. and expanded into providing  liquidity in U.S. Treasuries. In March 2021, the company began offering a single dealer platform for U.S. equities.