GAIN Capital, a provider of online trading services, has appointed Joe Wald as executive vice president, head of institutional.

Wald (pictured) will be responsible for leading GTX, GAIN Capital’s institutional business.

He will report directly to chief executive Glenn Stevens and will be based in GTX’s New York offices.     
 
“Joe is a talented visionary with the proven ability to grow trading volumes and build innovative product and service offerings for leading institutional platforms,” says Stevens.  “Institutional trading is an important part of our growth strategy and having Joe lead this part of the business will help us build on the success we’ve had to date and achieve our goal of becoming a market leading ECN in the FX space.”
 
Wald was most recently head of Knight Direct, Knight Capital Group’s institutional electronic trade execution business. Prior to Knight Capital Group, he was co-founder and chief executive of EdgeTrade, which served as an agency brokerage and developer of algorithmic trading and direct market access software for equity markets. EdgeTrade was acquired by Knight Capital Group in 2008. 
 
“Performance and innovation are crucial to the institutional FX space, given the significant number of competing venues and platforms,” says Wald.  “I’m looking forward to leveraging almost 20 years of experience in the equity world to bring a new level of innovation to the institutional FX space and help differentiate GTX from the competition.”