The Cyprus-based arm of IC Markets, which provides FX services and ECN trading capabilities, has secured Denys Denisov as its newest General Manager.
Denisov joins IC Markets from AFX Group, the UK trading arm of AFX Markets Ltd, which is authorized by the UK’s FCA and Cypriot CySEC. He served with the FX broker as a registered training organization (RTO) manager, having helped to expand its training and education activities for over five years.
Overall, Denys has over two 15 years of experience in the financial securities industry, garnering a rich background in fixed income, structured credit products, government bond futures, as well as nearly a decade in the foreign exchange sector.
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Prior to AFX Group, Denisov worked as RTO Manager with FX broker LQD Markets Ltd, which renounced its CySEC investment firm’s license back in 2014. Other stops include a three-year stint as a Senior Dealer with TadawulFX and nearly seven years with Schneider Trading Associates as a fixed-income derivatives trader.
ASIC tightens the screws
IC Markets has been aggressively strengthening its offering over the past few months. The company continues to add new cryptocurrencies to its growing suite. On the regulatory front, the Sydney-based broker launched operations in Cyprus after it secured a CySEC to begin a more Europe-oriented business and, obviously, attract more customers.
The Australian arm, however, has been swinging back and forth after the ASIC asked brokers to part with a lot of confidential information about their foreign clients so that their business could be fully scrutinized. Most recently, IC Markets confirmed to its overseas clients it would continue servicing their accounts via its ASIC-regulated subsidiary.
The corporate note came barely a week after the company informed its customers that it is planning to migrate their trading accounts to an offshore brand in Seychelles. The move came after the Aussie regulator tightened the screws by instructing brokers to start closing accounts for all foreign client in jurisdictions they have no license.