|President and CEO|
|Integral Development Corp.|
|Last year: 38|
Automation and transparency have defined the mission of Integral Development Corp. since Harpal Sandhu started the software company in 1993. By the late 1990s, Integral had made those aspirations tangible with FX Grid, a pioneering integrated trading network linking major participants in the foreign exchange market. FX Grid formed the foundation of an ever-expanding product line with such recent additions as InvestorFX, geared to buy-side best execution; the Integral SEF swaps execution facility; and FX Benchmark, developed in collaboration with Stanford University Integral's Palo Alto, California, neighbor and Sandhu's alma mater. "It has always been the vision of Integral that if one could use technology to add transparency to the market, then the market would become more fair, and that fairness would lead to increased trust, and that trust would lead to higher volumes and a better outcome for everyone in the market," explains the 47-year-old president and CEO. FX Benchmark is very much in that vein of "increasing market transparency and reducing friction," Sandhu says. The readout of aggregated, second-by-second midrate calculations for an initial seven currency pairs, useful for evaluating execution quality and performing transaction cost analysis, was available for free daily downloading starting January 15. "Access to accurate information is a key component of market efficiency that drives growth and innovation," comments Kay Giesecke, an associate professor of management science and engineering at Stanford.
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