Lessons from Buy & Build
07 July, 2025
Innovation, Expansion, and Resilience
In the latest episode of FinTech Focus TV, host Toby Babb welcomes Peter McStay, Head of EMEA at OptimX Markets, for an in-depth conversation that explores the journey of launching a new FinTech business, the realities of entering a competitive and conservative market, and the mindset needed to succeed in a fast-evolving trading environment. This compelling dialogue covers everything from global strategy and procurement hurdles to technology deployment and long-term innovation.
At Harrington Starr, a FinTech recruitment specialist with global reach, we know that building the right team is critical to any FinTech’s success. This episode highlights exactly why companies need visionary leaders like Peter, individuals who understand both institutional expectations and startup agility. For clients looking to grow their FinTech business and for candidates curious about roles in capital markets and trading technology, this episode is a must-listen.
FinTech Recruitment Meets Innovation: Creating a Business from an Idea
Peter McStay’s story with OptimX Markets began well before a product was launched. He describes the early stages as conversations between peers, experts in electronic and block trading, who recognised that existing solutions were not fully addressing market needs. There was a visible gap in liquidity, inefficiencies in trade flow, and an overreliance on incumbent providers. Sensing an opportunity, Peter and his colleagues began developing a plan, validating it through industry feedback, and refining it until OptimX was born.
OptimX Markets is designed to address inefficiencies in trading through a new technology model. What sets them apart is their commitment to collaboration. Instead of building in a vacuum, the team consulted extensively with buy-side and sell-side players to ensure their model aligned with real-world needs.
As a FinTech staffing partner, we at Harrington Starr consistently advise businesses on the need for adaptable, strategically minded talent who can thrive during these ideation phases. Peter's experience highlights the importance of having a founding team that combines deep market knowledge with a proactive, collaborative spirit.
Building Trust in FinTech: Securing Client Buy-In and Early Support
One of the most daunting aspects of launching a FinTech solution is gaining traction with clients. Peter reflects candidly on this challenge, admitting that his biggest fear when transitioning from a large institutional role to a startup was that clients might simply ignore his calls. Fortunately, the opposite proved true. The relationships he had built over the years paid dividends, with many decision-makers willing to engage and learn more about the OptimX proposition.
Early adopters like BMO proved critical, not only for validating the model but also for encouraging others to take notice. However, Peter also encountered more cautious firms adopting a “wait and see” approach, which can slow momentum.
Toby and Peter agree that one of the main obstacles for startups is navigating enterprise procurement processes. Without the right internal champion, even the most compelling solutions can get bogged down in red tape. However, with the right sponsor, adoption can be accelerated.
From a FinTech recruitment perspective, this underscores the need to hire professionals with the interpersonal skills to build stakeholder relationships and guide solutions through long sales cycles. Companies breaking into financial services need more than engineers, they need business developers, partnership managers, and strategic thinkers.
Scaling FinTech Talent: From Global Institutions to Startup Agility
Peter McStay’s career began at HSBC, one of the world’s most established institutions, before he moved on to more entrepreneurial ventures such as Liquidnet. That experience of helping a startup scale into a major player laid the groundwork for his current role. It also sparked a desire to return to a smaller, nimbler environment.
As Peter puts it, “Over time, I started to crave going back to the smaller thing.” At OptimX, he has found that opportunity to be hands-on, to build from scratch, and to influence the company’s culture and direction from the start. While there are challenges, Peter describes the journey as “interesting,” “rewarding,” and filled with “ownership.”
At Harrington Starr, we’re seeing this trend across the board: high-calibre professionals leaving established firms to join earlier-stage FinTechs where they can make a real impact. These candidates are not only experienced but often hungry for challenge and growth. As FinTech companies grow, recruiting leaders who’ve successfully bridged the gap between enterprise and startup environments can provide a significant competitive advantage.
Creating Scalable FinTech Solutions: OptimX and the Future of Trading
OptimX Markets is focused on electronic trading, with a mission to facilitate better outcomes by connecting buy-side and sell-side firms via a flexible, tech-first model. The platform itself is a pure technology solution; it doesn’t act as a broker or settle trades. Instead, it provides a framework where market participants can interact on their terms.
One of the key messages Peter conveys is that OptimX is not trying to dominate or control the trading process. Rather, the platform serves as a “sandbox” where clients dictate how they want to use the technology and where they want to take it. This decentralised approach contrasts with older models that imposed rigid structures on users.
This adaptability makes OptimX ideal for cross-asset trading. Although the platform has launched in equities first, its technology can be applied to other asset classes such as fixed income or derivatives, depending on client demand. Peter notes that OptimX is intentionally agnostic and designed to evolve based on user needs.
In FinTech hiring, this level of flexibility translates to talent requirements. Firms like OptimX need people who understand market microstructure, multi-asset class workflows, and how to build adaptable products. It’s not just about coding, it's about commercial thinking and user-focused design.
Breaking with Convention: Launching in the U.S. and Europe Simultaneously
Traditionally, FinTech companies focus on one geographic market before expanding globally. OptimX chose a different path, launching in both the U.S. and Europe almost simultaneously. This was a deliberate decision informed by opportunity and strategy, rather than by convention.
Peter explains that while most firms expand into Europe only after establishing a strong U.S. presence, OptimX saw clear market shifts and client needs on both continents. The result is a business model that is global by design, not by default.
There are, of course, challenges. European financial institutions are often more risk-averse and prefer to wait until a solution has been validated elsewhere. Procurement processes in the region can be slower and more bureaucratic. However, Peter believes that early success in both regions can create a virtuous cycle of growth, investment, and client engagement.
From a FinTech recruitment standpoint, global expansion highlights the importance of cross-border experience. Companies like OptimX benefit greatly from hiring professionals who understand both U.S. and European regulatory landscapes, sales tactics, and cultural nuances. FinTechs need global operators who can launch new regions with confidence.
Addressing Procurement and Regulation: Lessons in Patience and Strategy
Procurement remains a hot-button issue for any FinTech company selling into banks or asset managers. Peter notes that even when a trading desk is excited about a product, that enthusiasm can be lost as the solution makes its way through legal, compliance, risk, and IT departments.
While these hurdles are not unique to OptimX, they do highlight a broader industry issue. In Peter’s view, Europe’s financial services sector has been underinvested in since the global financial crisis, resulting in overly cautious processes that often slow innovation.
There is hope, however. Peter notes that the UK government has taken positive steps in supporting the FinTech ecosystem, particularly through tax incentives for angel investors. However, he also highlights a significant gap in scale-up funding compared to the U.S. Once a FinTech company begins to succeed, attracting the next level of capital in Europe can be much harder than it is stateside.
This is a critical insight for FinTech recruitment. Companies scaling in regulated industries need individuals who are comfortable with ambiguity and capable of navigating complex internal politics. Whether it's legal reviews or budget committees, having commercially-minded professionals who can drive a product through to live deployment is a must.
Championing a Culture of Risk and Reward in FinTech Careers
Toby and Peter explore the cultural contrasts between Europe and the U.S. when it comes to innovation and failure. In America, failure is often seen as a necessary part of the entrepreneurial journey. In Europe, it can be stigmatised, something that deters risk and discourages innovation.
Peter believes this mindset needs to shift. If Europe is to become a powerhouse in capital markets innovation, it must be willing to take more calculated risks and support those who do. This includes celebrating entrepreneurs, rather than tearing them down, and providing clear pathways for scale-up investment.
For job seekers in FinTech, this cultural shift is key. The most successful professionals are those who can embrace change, persevere through setbacks, and view obstacles as opportunities to learn and grow. At Harrington Starr, we help candidates recognise the value of resilience and position themselves for success in fast-moving, high-pressure environments.
The Power of Partnership: Collaboration as a FinTech Growth Strategy
Peter and Toby both emphasise the increasing importance of partnerships in financial technology. Historically, firms tried to go it alone, owning their tech stack, guarding their intellectual property, and competing for every inch of market share. Today, collaboration is not just helpful, it’s essential.
OptimX has formed strategic alliances with organisations like Aquis in Europe and Apex in the U.S., helping them integrate quickly and gain market access. These partnerships not only bolster credibility but also streamline procurement processes by leveraging established counterparty relationships.
For companies looking to expand in capital markets, hiring people with partnership experience can be a game-changer. Whether it’s BD professionals who can structure complex alliances or product leaders who know how to integrate with other platforms, partnership expertise is becoming a key hiring requirement across the FinTech recruitment landscape.
Giving Back Through FinTech: Rides FAR and Autism Research
Beyond business, Peter is also passionate about philanthropy. He is helping to bring “Rides FAR”, a cycling fundraiser supporting autism research, from the U.S. to the UK. Scheduled for 27 September, the event will take place in the South Downs and aims to unite industry professionals around a meaningful cause.
Peter’s involvement in Rides FAR reflects a broader theme in FinTech: giving back. More and more professionals and companies are using their platforms to drive social good, whether through diversity initiatives, sustainability projects, or medical research.
At Harrington Starr, we believe this sense of purpose is critical for attracting and retaining top talent. People want to work for organisations that care, not just about profit, but about people and progress.
What’s Next for OptimX Markets: Scaling Growth and Expanding Innovation
As the episode concludes, Peter outlines what’s next for OptimX Markets. With technology deployed, regulatory permissions granted, and vendor integrations underway, the company is gearing up for its next major milestone: executing its first trades.
Following that, the focus will shift to scaling, onboarding more clients, expanding across asset classes, and growing into new geographic regions such as Asia, the Middle East, and Africa. Peter is optimistic about what lies ahead and excited to see how the market responds once the platform gains momentum.
This phase will be critical not just for the business but also for hiring. Scaling requires experienced professionals who can lead teams, refine operations, and maintain momentum. As a FinTech recruitment partner, we look forward to seeing OptimX build out its team and continue to grow.
Conclusion: A FinTech Journey Fuelled by Talent, Vision, and Grit
Peter McStay’s journey with OptimX Markets is a powerful reminder of what it takes to launch and scale a FinTech business. It demands vision, resilience, adaptability, and a willingness to face uncertainty head-on. It also requires a team capable of navigating procurement processes, building partnerships, and responding to client needs in real time.
At Harrington Starr, we’re proud to support the companies and people shaping the future of capital markets. Whether you’re hiring in FinTech or exploring new FinTech jobs, the story of OptimX Markets shows that with the right people in place, anything is possible.
