Salt Lake City, March 31, 2009 — Interbank FX, a global off-exchange retail foreign currency (Forex) broker headquartered in Salt lake City, Utah, announced today that its president and chairman, Todd Crosland, was named 2009 CEO of the Year for the Medium Sized-Private Company category by Utah Business magazine. Crosland was honored on March 24 at an exclusive reception at the Grand America hotel in downtown Salt Lake City.
"Each year, Utah Business magazine is proud to honor CEOs who have proven to be successful leaders in their companies and communities. This year we were pleased to honor Mr. Crosland," said Sarah Ryther-Francom, managing editor of Utah Business magazine. "Interbank FX is one of Utah's fastest growing companies and Crosland, who built the company from the ground up, has proven to be an exceptional leader and deserves such recognition."
Crosland started Interbank FX at the end of 2001 to suit his needs as an individual investor in the forex market. From humble beginnings, Interbank FX has grown into a thriving global enterprise, serving more than 35,000 clients in 140 countries and rivaling Forex brokers in such financial centers as New York, London, Sydney and Tokyo.
Despite such growth and global success, Crosland never originally envisioned offering the company's proprietary Forex trading technology to retail traders.
"It wasn't until 2003, when a group of high frequency traders from Texas approached me about using our technology in their own currency trading, that I considered offering it to retail traders-and once enthusiasm for the technology began to grow, so did our customer base."
Over the past year, in particular, Interbank FX has achieved rare success, despite market woes. In 2008, the company achieved record breaking revenues and set a new high of over US$80 billion in trading volume in a single month. In fact, 2008 marked the fifth consecutive year of nearly 100 percent revenue growth for the company, which boasts a current net capital in excess of US$42 million.
About Interbank FX
Headquartered in Salt Lake City, UT, Interbank FX, LLC (IBFX) is a leading provider of online Forex trading services, offering individual traders, money managers and institutional customers proprietary technology, tools and education to trade spot foreign currency online.
Unlike other off-exchange retail foreign currency brokers, IBFX has distinguished itself as an industry leader with its proprietary tools and services and remarkable focus on customer care. This has led to longer term relationships and to numerous awards and industry accolades, including Best Online FX Provider, Best Foreign Exchange Broker, Best Chairman, Ernst and Young Entrepreneur of the Year, and Inc 500.
IBFX serves more than 30,000 clients from more than 140 countries around the world and has supported a trading volume in excess of US$80 billion in a single month. The company is regulated as a member of the National Futures Association and is also registered with the Commodity Futures Trading Commission as a Futures Commission Merchant. Trading in the off-exchange retail foreign currency market is one of the riskiest forms of investment available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose.