FNG Exclusive… FNG has learned that leading Retail FX and CFDs broker Hantec Markets has hired Michael Nichols, as the new CEO of its Hantec Prime B2B services division.
Michael Nichols, who is based in Cyprus, spent the past four years with the Match-Trade / Match-Prime group, serving as Head of Sales for its Match-Trade trading platform and broker tech business, as well as Chief Commercial Officer at the Match-Prime liquidity operation. He had also previously worked at TopFX, Panda Trading Systems, and 24option.
FNG had the opportunity to speak with Michael about his move to Hantec, and his plans for Hantec Prime. Here is what he had to say, exclusively at FNG.
FNG: Hi Michael, and thanks for joining us today. Please let us know a little more about your decision to join the Hantec Group, as the new CEO of Hantec Prime.
Michael: Hi, firstly thank you for taking the time for this interview.
My decision to join Hantec Prime as the new CEO was an easy decision. Over a few conversations with the leadership team, I noticed this is a group of individuals who have the knowledge and experience to build on their existing success into something revolutionary.
Hantec Markets is one of the few brokers out there who have tested time, with over 30 years of experience they have learnt how to keep adapting and growing in one of the toughest industries in the world. Hantec Prime is no different, it aims to generate growth supported by multiple offices worldwide, showing exciting ambition – it was the right time to join.
FNG: How was the decision made at Hantec to expand its traditional retail business into liquidity and prime brokerage solutions?
Michael: Interestingly, Hantec Markets has had a B2B division for a few years now already with some well-established clients. Naturally having the experience in retail for over 30 years and connection to tier 1 providers it meant they knew exactly what brokers need to succeed and how to work with them, so the decision to push the expansion on the prime brokerage solutions was a logical next step.
FNG: What are your main target markets at Hantec Prime? What kind of clients are you looking to work with? (And where?)
Michael: At Hantec Prime we are looking to expand into multiple territories, working closely with small to medium sized companies who require tailored and specialised services. We are very fortunate to be supported by our global teams across Latam, Europe, Middle East and Asia which enables us to have extended reach and provide local support.
Ultimately, we aim to start with clients focused on those regions as we have local representatives to provide that face to face level of service, as we aim to have with all our clients.
FNG: The liquidity/PB space, especially those who serve FX and CFDs brokers, seems to be somewhat crowded, with a number of well-capitalized, entrenched incumbents. How will you look to differentiate Hantec Prime, as a preferred partner for brokers and others in the business?
Michael: One of the key ways we aim to differentiate Hantec Prime in a large competitive market, is by firstly being able to service them in any of our global offices, focusing on providing exceptional support which we can provide to our brokers due to our large, experienced team.
The goal for us is not to be a typical LP, but one that focuses on helping brokers with flexible conditions and knowledge. Our extensive risk team is there to assist brokers understand where there is otherwise known as abusive flow, how to mitigate that risk and when it is important to remember your balance sheet and NOPs and not risk your business.
FNG: What changes do you see on the horizon for the online trading industry? How is Hantec Prime planning to position itself as the industry evolves?
Michael: Over the past few months, I see several changes in the online trading industry.
We see increased volatility on specific instruments accounting for 80% or more at times of a broker’s book. This can add high profit and high risk for a broker; brokers have started passing their NOPs taking bigger risk then necessary, and I believe soon risk managers will start looking for LPs to sustain and offset their risk.
Hantec Prime plans to position itself as a liquidity provider that has the knowledge to survive over 30 years of market changes, and we plan to become a provider that helps our clients grow and help them prepare themselves for market risk as their prime LP.
FNG: What else can we expect to hear from Hantec and Hantec Prime in the coming months?
Michael: I cannot reveal everything now but there are big things coming from Hantec Markets and Hantec Prime, as we plan to expand our business lines from a technology point of view and further our expansion and reach in the market.
