This week’s FX industry news was centered on key executive moves involving some of the leading B2C and B2B providers in the sector.

And much of the news was reporting first or exclusively at FNG.

Some of the top forex industry news items to appear on the pages of FNG this week included:

Exclusive: Christian Frahm leaves CFH board. FNG Exclusive… FNG has learned that CFH Group founder Christian Frahm has resigned from the board of the company, as well as its FCA regulated subsidiary CFH Clearing. In parallel, Mr. Frahm has stepped down as Chairman of the CFH Group companies, which he founded in 2008. CFH Clearing provides FX liquidity and brokerage services to an exclusively B2B clientele. Its clients include Retail FX brokers, banks and fund managers, which use CFH to access liquidity through an extensive selection of Tier-1 banks, ECNs and non-bank liquidity pools.

Australia Forex – IC’s Angus Walker moves to Global Prime, replaced by Nick Twidale. Some movement in the Retail FX sector down under…. FNG has learned that longtime IC Markets senior executive Angus Walker has left the company, joining rival Global Prime as its new General Manager. IC Markets has added former Rakuten Australia COO Nick Twidale to replace Mr. Walker as General Manager. Angus Walker had been with IC Markets for the past 10 years, starting in 2010 in sales and working his way up the ladder as the broker grew to be among the top-3 Aussie FX and CFD brokers, becoming a director of the company in 2015 and General Manager in 2017, a role he kept until leaving IC Markets last summer.

Exclusive: Ex EBS chief Tim Cartledge joins board of Dmitri Galinov’s 24Exchange. FNG Exclusive… FNG has learned that well-known and experienced FX industry executive Tim Cartledge has joined the board of directors of 24Exchange. He will serve as a non-executive director at 24Exchange. 24Exchange (24exchange.net) is an OTC ECN, with its initial focus on FX derivatives via non-deliverable forwards (NDFs). 24Exchange says that it is addressing market challenges such as fragmented pools of liquidity and increasingly costly access fees and data. The Bermuda-based company was founded last year by former FastMatch CEO Dmitri Galinov, after selling FastMatch to Euronext for $153 million.

Exclusive: CMC and E*Trade vet Salim Sebbata joins Trade.com. FNG Exclusive… FNG has learned that FX industry veteran Salim Sebbata has joined the Trade.com group, to lead their business development efforts. Salim Sebbata was previously Head of Middle East for CMC Markets from 2016-2018, and was with E*Trade from 2004-2010, serving as a board member of E*Trade’s Dubai operation and as VP-Head of Middle East for the company. Based in the London office, the company told FNG that Salim’s goal will be to meet business partners and to grow the business, which already boasts offices in a range of European and non-European cities.

FCA bans three more CySEC-licensed FX brokers – UFX, EuropeFX, Dualix. After taking away the passporting rights of four Cyprus-based, CySEC-licensed Retail FX and CFD brokers just two weeks ago, UK financial regulator The FCA has extended the list, adding three more brokers which are now unable to market their services to UK traders. The FCA noted that its action came after “these three CFD providers had decided to cease to provide any investment services in the UK”.