Citi deal gossip trades too fast for Tradable

READERS may remember The Capitalist reported not so long ago on Jannick Malling, the young founder of online trading platform Tradable, who picked up a gong for Most Innovative Financial Company at the Forex Magnates Summit last month.

It seems that good news travels fast – word of Malling and Tradable’s award success had spread across the ocean in less than 20 hours.

On the day of the Forex ceremony, Malling pitched a partnership idea to Citigroup, which would allow brokers on the Tradable platform to trade with Citi on the CitiFX TradeStream.

The Capitalist hears that Citi loved the concept and the deal was signed straight away in London.

However to the embarrassment of one board member, news of the agreement hadn’t reached the Tradable team out in New York.

The following evening Henrik Werdelin, a board member of Tradable, was at a cocktail party in New York and by chance ended up talking to a Citi employee, who was waxing lyrical about a deal the firm had just signed with an “innovative new platform”.

It took a good ten minutes of chit chat before the pair clicked that the deal was actually with Werdelin’s own firm.