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July 13, 2021 - FX Hedging technology company, Assure Hedge, has announced today that it has hired Pritesh Ruparel as Chief Commercial Officer. Assure Hedge is a financially (MiFID) regulated company using the latest technology to simplify FX currency hedging, specialising in FX options, forwards, spot and other regulated hedging instruments. Prior to Assure Hedge, Ruparel was head of the OTC Derivatives business for Sucden Financial.
In a statement by the company to LiquidityFinder this morning it was stated that, "At Assure Hedge, Prit will be helping us expand our operations, build new connections, and develop market-beating products that make currency hedging more accessible and affordable for everyone.
"With over a decade of commodity and currency derivatives trading experience, he was instrumental in building one of the most sophisticated and acclaimed over-the-counter FX option trading platforms on the market."
In June, Irish news service RTE reported that the Dublin-based technology company raised €5 million in new investment to fund its rapid expansion plans, giving Assure Hedge a valuation of €30 million. The company also announced that it had appointed Davy to lead a Series A investment round later this year. The company said that it has grown rapidly in the past year, doubling its client base and adding 15 more members of staff. The company plans to both double its client and its headcount again this coming year.
The RTE report quoted Assure Hedge founder and chief executive Barry McCarthy as saying, "Given the response we have had to date we are confident that we are still only scratching the surface of demand from SMEs looking for an easy way to manage foreign exchange exposure," Mr McCarthy said.
"Whether it is coping with the volatility in sterling caused by Brexit, or handling the rollercoaster ride of the dollar through quantitative easing, our mission is to ensure that the ability to hedge foreign exchange risk at low cost is no longer the preserve of big corporates," he added.
Founded in 2016 and with offices in Dublin, London and Portugal, Assure Hedge provides a proprietary currency solutions platform called X Hedge where clients can access currency forwards, options, and spot in 30+ currencies, and distribute them under a company's own brand to their customers via a self-service customer portal. X Hedge handles everything regulatory and technical for the owner, letting them focus on growing their business. The platform offers features such as an automated proposal generator, granular pricing capability, and real-time insights and reporting. X Hedge’s services are also available via API.
