Rapid Addition names former MD of Thomson Reuters global enterprise division as new CEO

Rapid Addition have named Mike Powell as their new Chief Executive Officer. Majority shareholder, Kevin Houstoun, will remain in his role as Executive Chairman, handing over operational responsibilities with immediate effect.

Based in London, Mike will lead Rapid Addition’s growth plans, building on their position as a leading provider of high-performance enterprise solutions for electronic trading and a pioneer in FIX/FAST and FPGA technologies.

Mike brings his extensive financial markets experience to Rapid Addition having worked on both the customer and vendor side of the industry throughout his career. He is an active participant in the London fintech scene and has spent the last couple of years working with a number of innovative firms to develop their commercial strategies and funding plans. Previously, Mike was the Managing Director for Thomson Reuters global enterprise division, responsible for the data feed and platform business under the Elektron brand.

“Having secured several new tier-1 customers over the last two years, we continue to invest in both our technology and people. As part of this strategy, we are delighted to attract someone of Mike’s calibre to lead the team and drive this next phase of our growth. We see significant opportunity in helping customers evolve their trading infrastructure as regulation continues to push the industry towards an increasingly electronic and transparent world. I look forward to working with Mike to build on Rapid Addition’s position as a strategic technology partner to the electronic trading community.’ Said Kevin Houstoun, Executive Chairman at Rapid Addition.

Mike Powell commented, “Given the ongoing trend of capital market automation across all asset classes, particularly in the domain of electronic trading, it is an exciting time to be joining Rapid Addition. Repeated customer success has proven the value of our technology in creating a future proof platform for electronic trading and customer and venue connectivity.”

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