FNG Exclusive… FNG has learned that a fairly experienced team of FX industry executives have formed a new Cyprus based, CySEC licensed FX broker called Sheer Markets. The new entity formally launched today.

Sheer Markets said that it has a mission to offer a new range of products that are currently unavailable to the retail online trading community. Founded on the principles of integrity, collaboration and adaptability, Sheer Markets noted that it strives to provide clients with competitive, streaming access to a comprehensive instrument range, including non-deliverable forwards (NDFs), emerging markets currencies (EMFX), and Cryptocurrencies, and to represent the driving force in an ever-evolving global industry.

NDFs, CFDs and EMFX, which are the main products offered by Sheer Markets, have long been kept under wraps in the online trading world, stuck in a frenzy of trading major currency pairs. Over the past 12 years, a 300% increase in volume has been recorded in NDFs – the demand of which is steadily growing as the economies of NDFs and EMFX develop further. With Sheer Markets, clients can trade in the likes of the Indian Rupee and Korean Won, tapping into new pools of investment potential.

With an expansion in liquidity and an increase in turnover in the NDF market, the company said that more and more individuals worldwide seek new avenues of investment, and Sheer Markets wants to help fill this gap and offer a viable streaming NDF CFDs service.

The team behind Sheer Markets includes:

Alex Ladouceur, Chairman. Alex is the Chairman of Sheer Markets (Cyprus) Ltd. A former Wall Street Executive, Alex has been involved in global financial markets for more than three decades, responsible for overseeing global 24-hour market-making and trading of both exchange traded and OTC financial and commodity products. Prior to founding Sheer Markets, Alex was president of Jefferies Bache’s Commercial Division, responsible for global market-making, trading and brokerage activities in all commodity related businesses including precious metals, base metals, energy and agricultural products.

Howard Carr, Chief Executive Officer. Howard is the Chief Executive Officer and Executive Director of Sheer Markets (Cyprus) Ltd. Howard is a highly motivated, dynamic manager whose career spans 35-years and covers the management of multi-market trading intermediaries including US securities houses, FCMs, boutique investment management / financial advisory firms.

Gareth Thomas, Executive Director & Chief Commercial Officer. Gareth is an Executive Director of Sheer Markets (Cyprus) Ltd. Gareth has a career spanning in excess of 25 years across multiple jurisdictions, covering FX and Derivatives Sales, Trading and online technology. Gareth started his career at NatWest Markets, providing treasury services and FX dealing for UK corporate clients. Gareth was most recently Head of eFX at BTIG, and Director of Sales at Fastmatch.

Glenn Grant, Executive Director. Glenn is an Executive Director of Sheer Markets (Cyprus) Ltd. Glenn has thus far a career spanning over 34 years in London, Sydney, Copenhagen, New York and Dubai, working in senior positions for Saxo Bank and Rosenthal Collins.

Ashraf Agha, Chief Compliance Officer. Ashraf is Chief Compliance Officer of Sheer Markets (Cyprus) Ltd. Ashraf has over 30 years experience in Operations Compliance and has extensive experience in Capital Markets Online Trading with focus on the Foreign Exchange and CFDs sector. Ashraf was a Director and the Head of Treasury in Saxo Bank (2000-2008).

Sheer Markets received its CySEC CIF license effective December 18, 2020. The company’s co-founder Gareth Thomas posted the following note on social media:

Dear friends, I am very proud to announce the launch of Sheer Markets, a new financial institution offering some innovative trading instruments, in addition to FX, Equities, Index products, Commodities and Cryptos. Click link below for further details.