Advanced Markets adds staff for institutional initiative

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Advanced Markets, the US-based FX platform, has hired a sales and operations executive to bolster its institutional presence.

Karma Tenzing has joined as director, institutional sales. Tenzing was formerly a sales trader in the FX, FX options and rates group at Société Générale in New York. He will report to Steve Janjic, managing director, e-commerce FX sales at Advanced Markets. Robert Voorhees has also joined the firm in an operationally capacity. Voorhees was previously a trader and risk manager at Gain Capital. Advanced Markets provides low-latency direct market access (DMA) to spot FX liquidity streamed by 10 leading global FX banks. They are Bank of America Merrill Lynch, Barclays, BNP Paribas, Commerzbank, Deutsche Bank, JPMorgan, Morgan Stanley, Nomura, UBS and Macquarie Bank. In September, Advanced Markets announced its entry into the institutional FX market with a DMA product designed for institutional buy-side clients, including hedge funds, asset managers, banks and corporate investors.