Jer: MarketFactory customers are 45% banks, 45% funds, 10% brokers
Darren Jer · 1412 Passed $12m in ARR, Banks Use This API To Decrease Currency Risk · Jun 6, 2019 · at 8:17
Darren Jer is the co-founder and CEO of MarketFactory, an API infrastructure provider for institutional foreign exchange trading.
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“We're probably like 45% banks, 45% funds, you know, the buy side. And then about 10% brokers.”
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More from Darren Jer
MarketFactory was likely the first to bring a SaaS model to FX
“We actually brought the SAS model. We're probably the first ones to bring the SAS model to foreign exchange. So we are strictly, you know, MRR, ARR based.”
Jer: Deep vertical software companies can reach 80% to 90% market share
“And also because of the deep vertical nature, you know, I think you read the S ones for various deep vertical companies and they, you know, the, really it's, you know, as you grow, you can approach 80, 90%, you know, market share.”
The minimum trade size in institutional FX is $1 million
“Minimum trade size is one million US dollars, right?”
MarketFactory charges ARR per module, offering unlimited API calls
“We actually just charge it by functionality module. So let's say a bank typically needs, you know 20 exchanges to start to trade with to begin, but they'll scale up to 35, 40 exchanges. So we'll charge an ARR per exchange per module. Right. And it's unlimited …”