UK-based financial technology firm Celoxica has hired a leading derivatives industry executive to head up its new business development in the US, writes Nicola Tavendale.

Diane Saucier joined the firm’s Chicago offices on Monday and according to the vendor will be focusing on raising market awareness in the US, particularly within the Chicago futures and options community.

Although Celoxica is a UK-based company the majority of clients are actually based in the US, Saucier told FOWi.

“However, even in the US, Celoxica may be one of the best kept secrets in the industry,” she added.

“With Celoxica's unique technology offering for ultra low-latency market data, order execution and risk, and the market looking to reduce total cost of ownership I'm very excited about the opportunity to help raise Celoxica's profile and expand the customer base across the broker, prop trading and buy-side communities.”

Relationship building

Her appointment highlights the growing role of independent software vendors in bridging the gap between rapid regulatory change in the derivatives market and the cost pressures inherent in upgrading systems as a result.

Celoxica develops hardware accelerated market data, order entry and risk trading software targeted at automated trading firms, banks and brokers.

An industry veteran with over two decades experience, Saucier left her previous role with Trading Technologies (TT) in March.

During her 10 years with firm she was responsible for spearheading the development and launch of TT’s connections and maintaining strategic relationships with its global network of exchanges.

Time is right

Having joined the firm in 2003 as director of product management and application development, her final role was as VP market development.

A founding board member and vice president of Women in Listed Derivatives (WILD) Saucier also serves on the board of directors and as treasurer of the IT division of the Futures Industry Association (FIA).

Jean Marc Bouhelier, Celoxica’s chairman and CEO, said: “Over the last few years Celoxica has quietly built its product set and client base in North America and we believe the time is right to now proactively raise our profile in the trading community.

“Diane brings a wealth of experience to the role and her appointment reflects Celoxica's intent to ensure our unique offerings, which deliver deterministic performance, broad market coverage and reductions in infrastructure cost, are understood and we know Diane is the right person to convey that message.”