OTC Markets Taps Citi Veteran to Deepen Wall Street Ties, Fuel Growth

NEW YORK, NY – June 15, 2026 – In a move that signals a significant strategic acceleration, OTC Markets Group has appointed Thomas Fasano, a long-time executive from Citi, as its new SVP, Head of Broker-Dealer Sales. The appointment is more than a simple leadership change; it is a calculated play to leverage deep Wall Street relationships and market structure expertise to solidify the company's growing dominance in both over-the-counter securities and the burgeoning 24-hour trading landscape.

Fasano, who held senior roles at Citi covering everything from market structure and retail order routing to broker-dealer relationship management, will now be responsible for expanding the client base for OTC Markets' suite of OTC Link® Alternative Trading Systems (ATSs). His arrival comes at a pivotal moment, as the company aggressively builds out its infrastructure to capture a new frontier of market activity: overnight trading. The decision to bring in a seasoned operator from the very community he will now serve underscores a clear ambition to not just provide infrastructure, but to become an indispensable partner to the brokers and market makers that drive trading volume.

A Strategic Play for Market Dominance

For years, OTC Markets Group has been methodically building the foundational plumbing of the U.S. financial markets, particularly for the 12,000 securities that trade off-exchange. The company's recent financial performance reveals a strategy that is paying dividends. In the first quarter of 2026, gross revenues surged 14% year-over-year to $34.8 million, while revenue from its OTC Link trading platforms jumped an impressive 31%, driven by a 70% increase in average daily trades. This growth is the direct result of a focused effort to enhance its offerings and attract more users.

The centerpiece of this expansion is the company’s push into overnight trading. With the launch of OTC Overnight® in September 2024 for OTC securities and MOON ATS® in November 2024 for exchange-listed NMS stocks, OTC Markets has established a significant first-mover advantage. MOON ATS®, which operates from 8 PM to 4 AM ET, is designed to capture trading interest from Asia-Pacific investors during their daytime hours and has already gained considerable traction, averaging approximately 71,000 trades per session in early 2026.

This is precisely where Fasano’s appointment becomes critical. As Cromwell Coulson, President and CEO of OTC Markets Group, noted, “Tom has spent his career working directly with broker-dealers and market makers on how they can better access and execute more trades across rapidly changing markets. That is exactly the experience this role requires.” Coulson added, “As we expand overnight trading access... and as more broker-dealers connect to our platforms, having a senior sales leader with deep relationships is critical to what we are building.” Fasano's mandate is clear: translate this new infrastructure into a larger, more active subscriber base, which grew from 141 firms in 2025 to 147 by the end of Q1 2026.

The View from the 'Other Side'

The selection of Fasano is also a message to the broker-dealer community. His extensive experience is validated by a host of FINRA licenses and service on the board of the Security Traders Association of New York (STANY), making him a known and respected figure. In his own words, Fasano acknowledged the unique perspective he brings to the role.

“Broker-dealers and market makers need critical infrastructure they can depend on, and a client-focused partner who understands their business today and where it is going tomorrow,” Fasano stated. “I have been on the other side of that conversation for my entire career, and I am looking forward to putting that experience to work here.”

This “other side” experience is a powerful asset. Broker-dealers are not just seeking faster pipes; they are looking for efficiency, reliability, and a provider that understands their operational and regulatory burdens. Fasano’s background in wholesale market making and retail order routing at a powerhouse like Citi gives him an intimate understanding of his clients' pain points and strategic objectives. This insight can help OTC Markets refine its products and services to better meet the needs of its subscribers, fostering deeper, more resilient partnerships.

One example of this client-centric approach is the company's decision to include overnight market data from its new platforms into existing broker-dealer enterprise licenses at no additional cost. This move simplifies data access and removes a potential barrier to adoption, demonstrating an awareness of the cost pressures and complexities facing its clients.

Reshaping the 24-Hour Trading Landscape

Fasano’s appointment is set against the backdrop of a broader evolution in global market structure. The traditional 9:30 AM to 4:00 PM trading day is increasingly seen as an anachronism in a globally connected, always-on world. Retail and institutional investors alike are demanding the ability to react to market-moving news and manage risk around the clock. OTC Markets has moved swiftly to fill this void, positioning itself as a leader while major exchanges are still in the process of building out their own extended-hours infrastructure.

By launching MOON ATS® for NMS stocks, the company is competing directly for volume in securities listed on the NYSE and Nasdaq, but at a time when those primary exchanges are dark. This strategic incursion into a new time-based market segment represents a significant expansion of the company's competitive footprint. The recent establishment of a regional team in Hong Kong further highlights this global ambition, directly targeting the Asia-Pacific investor base that the overnight session is built to serve.

Fasano's role will be pivotal in navigating this new landscape. Success in an ATS, particularly a new one, depends on building a critical mass of liquidity. This requires convincing a diverse set of market makers and broker-dealers to connect and actively quote on the platform. His network and credibility will be instrumental in building the initial ecosystem needed for these overnight markets to thrive, transforming them from a niche offering into a standard component of the U.S. trading day.

A Foundation of Financial Strength

This strategic push is backed by a foundation of robust financial health. OTC Markets Group finished 2025 with 13% revenue growth and a 19% increase in operating income. The momentum has carried into 2026, with the company posting a 17% increase in net income and returning $6.8 million to shareholders in the first quarter alone. This financial strength gives the company the latitude to invest in top-tier talent like Fasano and to continue enhancing its technology and product offerings.

The company is not just hiring a salesman; it is acquiring a strategic asset. In a market where relationships, trust, and a deep understanding of complex market mechanics are paramount, Fasano represents a human bridge between OTC Markets' technological ambitions and the broker-dealer community whose participation is essential for success. His ability to translate the value of platforms like MOON ATS® and OTC Overnight® into the language of his former peers will be a key determinant of the company's ability to capitalize on its head start in the race to build the 24-hour marketplace.