🎧 Captivating industry insights

This is Caplin Connects... the podcast where we talk about Single Dealer Platforms, trading technology, and everything in-between. In each episode, we'll dive into the trends, tools, and talent shaping the future of electronic trading. Join us as we unpack what's new and what's next!

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#06

Scope, Scale and Single-Dealer Platforms: Jon Healey on a Career at the Cutting Edge of FX

Jul 23, 2026 - 40m 14s

In this episode, John Ashworth speaks with Jon Healey, a technology leader whose career spans more than three decades at the heart of electronic FX. Jon traces his journey from early programming roles in corporate treasury - including seven years running the in-house bank at Tate & Lyle - to HSBC Midland, where he spent 13 years building out the bank's e-commerce capabilities as EBS, Reuters and the first single-dealer platforms took shape. He charts the pivotal moment when the internet transformed electronic trading into a mass-market proposition, the build-versus-buy decisions that defined each chapter of his career at Lloyds and BBVA, and the discipline of scope management he credits as central to successful technology delivery. Jon and John also discuss the philosophy of mutually beneficial vendor relationships and Jon's candid views on where AI will and won't add genuine value in FX technology - from pricing analytics and flow prediction to the thornier question of legacy code.

Full episode

Scope, Scale and Single-Dealer Platforms: Jon Healey on a Career at the Cutting Edge of FX

#05

Adapting Through Change: Keith Hill on Technology, Markets and Career Growth

Dec 01, 2025 - 41 min 26 sec

In this episode of Caplin Connects, John Ashworth speaks with Keith Hill, Industry Veteran, about his journey from studying at Oxford to becoming a key figure in the evolution of electronic FX trading. Keith reflects on early lessons, from running his family’s business before landing on Goldman Sachs’ fixed-income desk during the Big Bang era. He traces his progression through JP Morgan, his move into emerging markets in Mexico and New York and his pivotal role in the creation and growth of multi-dealer platforms such as Currenex, Atriax and FXall. Keith and John explore the cultural battles between voice and electronic sales, the rise of algos and TCA and why single-dealer platforms have re-emerged as strategic differentiators. Keith also shares insights from his time at SocGen and on Caplin’s Advisory Board, offering advice for the next generation on embracing change, asking questions, understanding clients deeply and building a thoughtful career plan.

Full episode

Adapting Through Change: Keith Hill on Technology, Markets and Career Growth

#04

Bridging Technology and Banking: A Conversation with Sean Durkin

Nov 04, 2025 - 44 min 51 sec

In this episode of Caplin Connects, John Ashworth, CEO of Caplin, speaks with Sean Durkin, Director of EFX at First Citizens Bank, about his journey from software engineer to leading electronic trading initiatives in banking. Sean reflects on career lessons from early roles at FSS Spectrum, Charles River, and Silicon Valley Bank and shares insights on implementing FX technology, balancing client needs across segments, and integrating platforms post-acquisition. The conversation covers the evolving role of humans in an AI-driven trading world, the importance of holistic client relationships and the strategic priorities shaping the next 18 months in EFX.

Full episode

Bridging Technology and Banking: A Conversation with Sean Durkin

#03

Trust, Talent, Technology and Transformation: Bob Tull on the Next Era of Financial Markets

Oct 01, 2025 - 31 min 14 sec

In this episode of Caplin Connects, John Ashworth welcomes Bob Tull, Global Head of Fixed Income, Currencies, and Commodities at Fifth Third Bank. Bob shares insights on the evolution of trading floors, the rise of electronification and the pivotal role regional banks play in the U.S. financial system. They explore the future of stablecoins, blockchain, and post-trade automation, the importance of relationship-driven banking and how emerging talent can blend technical expertise with interpersonal skills. Bob also reflects on leadership lessons, market changes and his vision for Fifth Third’s growth in an increasingly digital, relationship-driven future.

Full episode

Trust, Talent, Technology and Transformation: Bob Tull on the Next Era of Financial Markets

#02

From Voice to Automated to Algorithmic: The changing face of FX Trading with Graham Moss

Aug 12, 2025 - 28 min 41 sec

In this episode of Caplin Connects, John Ashworth, CEO of Caplin, is joined by Graham Moss, Global Head of FX IT at BBVA, to reflect on the evolution of FX technology from the vendor side to the banking front line. They discuss the early success of platforms like Reuters RET, the shifting role of voice trading, and the challenges banks face when building their own FX stacks. Graham shares insights on the changing demands of tier-two and tier-three banks, the impact of commoditisation in trading tech, and why GenAI is now a must-have, not a nice-to-have. A compelling listen for anyone navigating the future of electronic trading.

Full episode

From Voice to Automated to Algorithmic: The changing face of FX Trading with Graham Moss

#01

Inside the Electrification of FX Markets: A Conversation with Stéphane Malrait

Jun 09, 2025 - 38 min 2 sec

In the first episode of Caplin Connects, John Ashworth, CEO of Caplin, sits down with Stéphane Malrait, Chairman of ACI Financial Markets Association, to explore the evolution of electronic trading in FX markets. They discuss the early days of single dealer platforms, the strategic decisions behind build vs. buy technology, and the persistent cultural resistance to change within banks. Stéphane also shares insights on the role of client demand in driving digitisation and how AI is beginning to reshape the trading landscape. A must-listen for anyone at the intersection of finance and innovation.

Full episode

Inside the Electrification of FX Markets: A Conversation with Stéphane Malrait

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Leading the market

🎧 Captivating industry insights

Scope, Scale and Single-Dealer Platforms: Jon Healey on a Career at the Cutting Edge of FX

Adapting Through Change: Keith Hill on Technology, Markets and Career Growth

Bridging Technology and Banking: A Conversation with Sean Durkin

Trust, Talent, Technology and Transformation: Bob Tull on the Next Era of Financial Markets

From Voice to Automated to Algorithmic: The changing face of FX Trading with Graham Moss

Inside the Electrification of FX Markets: A Conversation with Stéphane Malrait

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