Who is behind the launch of new Cyprus based FX broker technology provider Finyard? Who has joined Finyard (from XM/Trading.com, and Exness)?
Who acquired EU neobroker BUX? What happened to BUX’s Cyprus based CFDs brokerage arm Stryk?
What new proposals for CFDs marketing is pan-European regulatory body ESMA putting on the table?
What new venture was just launched by former OneRoyal CMO Vince De Castro?
Some of the most read and commented-on FX/CFD industry news stories to appear over the past seven days on FNG included:
Exclusive: Finyard launches, hires Rachel Demosthenous (XM CMO) and Sergey Yarovoy (Exness affiliates). FNG Exclusive… FNG has learned that a new technology startup catering to the Retail FX and CFDs brokerage sector has launched in Cyprus, called Finyard. And the company has begun to staff up, including the addition of a number of fairly well known and experienced senior executives, from a number of the larger Cyprus-based brokerage groups. Joining Finyard as its Group Chief Marketing Officer (CMO) is Rachel Demosthenous (pictured above). Rachel spent the past five years as CMO of Retail FX broker XM and its sister brand Trading.com. She had previously worked as CMO for London Capital Group, and as Marketing Manager at easyMarkets.
ABN Amro buys EU neobroker BUX. Amsterdam based banking group ABN Amro (AMS:ABN) has announced that it has reached an agreement to acquire BUX, one of Europe’s most rapidly growing neobrokers. With this acquisition, ABN AMRO said it aims to strengthen its footprint in the retail investment space and substantially enhance its digital offering. The parties did not disclose the price being paid for BUX. BUX was founded in 2013 and is also based in Amsterdam. The company has grown to be one of Europe’s leading neobrokers with 500,000 clients, operating across eight markets, although BUX exited the lucrative UK retail trading market earlier this year.
ESMA pushes for clear product labelling in CFD marketing materials. The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published a discussion paper on the digitalisation of retail investment services and related investor protection considerations. The regulator notes that it is important to ensure that (digital) marketing practices and advertisements remain compliant with relevant regulations by ensuring that these messages are fair, clear and not misleading. One of the aspects of clear and fair presentation is comprehensible and clear wording and presentation of the investment firms’ offer, including with regard to financial instruments.
Exclusive: OneRoyal CMO Vince De Castro leaves to start De Castro Media. FNG Exclusive… FNG has learned that Vince De Castro has left his position as Chief Marketing Officer (CMO) of Cyprus based Retail FX and CFDs broker OneRoyal, to start a new digital marketing agency called De Castro Media. Vince De Castro had joined OneRoyal last year, as was also exclusively reported at the time here at FNG, after serving in senior marketing positions at a number of other brokers including NAGA, FXPrimus, Orbex, and easyMarkets, dating back more than 10 years.
Top FX industry executive moves reported at FNG this week included:
❑ Exclusive: Equiti Group promotes Kinan Hassino to Sales Director.
❑ Alex Pusco’s StreamBank sees departure of CEO Steve Pateman.
❑ Webull appoints Arianne Adams as Chief Strategy Officer.
❑ Corpay Cross-Border names Andrew Shortreid its SVP Global Institutional Sales.
❑ Options appoints Claire McKillen as its new VP, Financial Controller.
