Online brokerage Stockpair is undergoing an optimisation process of its business, which includes downsizing dozens of employees from its workforce, Finance Magnates has confirmed. The reason for the move is that the firm is apparently trying to readjust to the tightening regulatory demands in Europe.
A company representative explained to Finance Magnates: “Due to the changes in the regulatory and market environment Stockpair has decided on restructuring of its operations, including downsizing of staff in some of the company’s departments and accordingly, acquisition of new clients. The company is engaged in optimizing its business model to better fit the market demand and regulatory requirements.”
Another aspect of this process is that the company is avoiding new client traffic from affiliates. Finance Magnates obtained this email sent by Stockpair to its partners:
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Due to changes in the Company’s operations, all new traffic will be temporarily suspended starting May 16th , Midnight CET time.
We value your partnership and expect to discuss with you in the near future the continuance of our collaboration and mutually beneficial opportunities.
There is no change to the monthly commissions payment process, our marketing department remain at your service for any questions you may have.
Stockpair Affiliates Team
Last year the firm saw much happier times. Former German football player and coach Lothar Matthäus signed a partnership with Stockpair, and the firm now uses the sport star’s image for specific online and offline campaigns.