FX week in review: Demetra Kalogerou joins Retail FX board, BDSwiss CEO, Your Bourse in Cyprus
Which Retail FX broker saw former CySEC Chair Demetra Kalogerou join its board of directors?
Who did BDSwiss name as its new CEO?
Which senior executives of FX broker tech solutions provider Your Bourse are relocating to Cyprus, as the company opens a new Limassol office?
Who is the latest executive hire at Rostro Financial, which recently bought control of CySEC licensed Scope Markets?
Answers to these questions, and a whole lot more, appeared first or exclusively this past week at FNG. Some of the most read and commented-on FX industry news stories to appear over the past seven days on FNG included:
Swissquote sees strong start to 2022, Demetra Kalogerou joins Board. Gland, Switzerland based online brokerage and banking firm Swissquote (SWX:SQN) has reported its full financial results for 2021, alongside an update on activity and outlook for 2022. Regarding its results, Swissquote indicated that its eForex trading volumes averaged $129 billion monthly in 2021, up from $114 billion in 2020. Operating revenues at Swissquote increased in 2021 by 49 percent year-on-year to CHF 479.6 million. Interestingly, Swissquote took its results release as an opportunity to announce changes in its corporate organization, which will include Demetra Kalogerou proposed to the Board of Directors as an additional member. Demetra Kalogerou was for 10 years the Executive Chairwoman of the Cyprus Securities and Exchange Commission (CySEC).
Your Bourse opens Cyprus office. Forex broker software provider Your Bourse has announced the opening of a new office in Limassol, Cyprus as the first milestone in the company’s global expansion plans. The expansion enables Your Bourse to strengthen its customer success management team and enhances its servicing to its growing client base from Cyprus and Dubai. With additional hires planned to join later this year, both Andrey Vedikhin, Co-CEO and Founder as well as Elina Pedersen, Co-CEO, CRO will be operating from the Cyprus office for the following year to allow them to oversee the set-up, hiring, and training of their growing team. Your Bourse is a London-based company founded by Andrey Vedikhin.
BigOption brand manager gets prison sentence. One of the defendants in a criminal case targeting numerous individuals involved in binary options scam Yukom Communications has been sentenced. On March 14, 2022, Judge Paula Xinis of the Maryland District Court signed a judgment as to Elad Bigelman, a brand manager for BigOption. Bigelman was sentenced to imprisonment for a total term of 36 months, with supervised release for a term of 3 years. He pleaded guilty to conspiracy to commit wire fraud in October 2021. The charges carried a maximum prison sentence of 20 years. Elad Bigelman, also known as “Michael Goldberg”, worked at Yukom Communications from at least January 2015 to about September 2017.
FOREX.com broadens its offering in Canada. FOREX.com, a trading name of GAIN Capital-FOREX.com Canada Limited, a wholly-owned subsidiary of StoneX Group Inc. (NASDAQ:SNEX), today announced the expansion of its offering in the Canadian market by offering over 2,500 new tradeable markets to Canada-based investors. The Forex broker also disclosed that it would offer Canadian customers commission-free CFD stock trading through July 1, 2022. Bid/ask spread cost will still apply. This broader Canadian offering further expands FOREX.com’s footprint in the Americas. The 2,500 new markets include the most popular stocks in the global markets such as Robinhood, Coinbase and Snowflake, bringing FOREX.COM’s total Canadian offering to 3,000 products.
Top FX industry executive moves reported at FNG this week included:
❑ Reported First at FNG… BDSwiss appoints Nicolas Shamtanis as CEO.
❑ Exclusive: Equiti and GKFX alum Mitesh Vaghela joins Rostro as CPO.
❑ Exclusive: Zenfinex hires Tickmill exec Jeffrey Navarro as Head of LATAM.
❑ BMLL grows US presence adding IEX/Refinitiv vet Tim Baker.
❑ Plus500 appoints Prof. Varda Liberman to Board of Directors.