Gerko is the founder of XTX Markets, an algorithmic trading firm active in foreign exchange, fixed income and commodity markets. The London-based company has offices in New York, Singapore, Paris and Mumbai, and revenue of about $2.6 billion in 2023. Before founding XTX Gerko ran market-making at hedge fund GSA Capital.
Gerko is the founder and co-CEO of XTX Markets, an algorithmic trading firm founded in London in 2015 that operates in equity, fixed income, FX and commodities markets.
Gerko is credited with 75% of the firm based on a filing with the U.S. Financial Industry Regulatory Authority by XTX Markets LLC. Its valued using 2023 revenues of $2.6 billion and net income of $1.1 billion of its three major operating units, XTX Markets Technologies, XTX Markets Limited and XTX Markets Trading based on their accounts filed at Companies House, and compared to the average enterprise value-to-sales multiple of publicly-traded peers Flow Traders N.A., Virtu Financial Inc. and ABC arbitrage.
The value of Gerko's cash and other assets is based on dividends of more than ?3.6 billion ($4.6 billion) paid since 2020 by an XTX holding company. He's credited with 75% of these payments based on his ownership of the group, and adjusted for taxes and market performance.
Tim Moxon, a spokesperson for XTX, declined to comment on Gerko's net worth in August 2023.
Alex Gerko was born in Moscow and received a doctorate from Moscow State University, later attending the New Economic School.
He began his career trading equities at Deutsche Bank in 2004 before shifting to foreign exchange. In 2009, he moved to hedge fund GSA Capital, where he ran market-making.
In 2015 he founded XTX Markets, an algorithmic trading firm that seeks to automate all aspects of its operations. The London-based firm has offices in Paris, New York, Singapore and Mumbai.