Retail trading firm eToro announced the appointment of Salomon Sredni as a Senior Adviser this Wednesday.
Sredni will also join the Israeli firm’s board.
The new appointee will guide eToro as the firm attempts to strengthen its hold on the US market.
Most retail trading in America has been frozen out by regulatory reforms. Hefty capital requirements, in particular, have prevented new companies from entering the market though IG Group, a London-based broker, did announce the launch of a new US subsidiary this month.
eToro won’t be providing foreign exchange or equities trading services to Americans for now. But, in the middle of last year, the broker was able to start offering cryptocurrency trading to US citizens.
It seems likely that the broker will start out providing digital asset trading and, potentially, expand into new products in the future.
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Sredni will be a useful figure to have on hand if the broker does plan on doing that.
Based in Florida, he currently sits on the board of several firms, including technology company Shyft, in an advisory role.
Many of our readers will be familiar with Sredni from his long career with TradeStation.
He joined the brokerage firm in 1996 and eventually became President and Chief Executive Officer. It was Sredni who, in 2011, was responsible for negotiating the eventual sale of TradeStation to Japan’s Monex Group for $411 million.
In 2016 Sredni left his role as President and CEO, though he remained a Senior Adviser at the firm for another year afterward.