Exclusive: CPT Markets CEO Salam Alaswad Steps Down

Finance Magnates learned on Wednesday that Salam Alaswad has stepped down as the CEO of retail broker CPT Markets.

Based in London, CPT is regulated by the Financial Conduct Authority. The company also has a separate entity licensed in Belize.

Alaswad was one of the broker's co-founders, helping to launch the UK firm, which was originally called Citypoint Trading, back in 2009

Prior to his founding the broker, he held a number of senior positions at currency and CFD trading firms in Jordan.

Big changes

The outgoing CEO's departure comes just over a year after CPT was acquired by Allen Market, a UK-based holding company owned by Chinese investor Zhijian Wang.

Since that Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term, the company has rebranded from Citypoint Trading to CPT Markets and launched two new websites.

Last month, the broker also upgraded to an IFPRU €730k license with the FCA.

Most retail trading firms based in the UK are upgrading from a matched-principal license to get full-scope IFPRU €730k firm status.

This means that brokers can act as Market Makers Market Makers Market makers or called dealing desk brokers represent a type of broker that internalize flows and are taking the opposite side of a transaction submitted by their clients. The market making broker is only quoting a feed of prices to its clients. These feeds may or may not be the exact same as the prices quoted on the interbank market.Any order a client enters is processed internally and never goes out to the market, except in rare cases where a market making brokerage identifies a client as a v Market makers or called dealing desk brokers represent a type of broker that internalize flows and are taking the opposite side of a transaction submitted by their clients. The market making broker is only quoting a feed of prices to its clients. These feeds may or may not be the exact same as the prices quoted on the interbank market.Any order a client enters is processed internally and never goes out to the market, except in rare cases where a market making brokerage identifies a client as a v Read this Term and are forced to take on more market risk with their clients.

As its name suggests, this FCA license also means firms are required to have £730,000 ($880,000) in funds. By comparison, a company with a matched-principle license only has to have capital holdings of £125,000.