Online Brokerage Markets.com Appoints Joe Rundle as New CEO
- The long-time industry executive is joining the firm as the industry is facing multiple challenges
Online brokerage Markets.com has appointed Joe Rundle as CEO, according to publicly available information on LinkedIn. He is joining the company with a raft of experience in the industry.
Before Markets.com, Joe Rundle was overseeing the trading operations at ThinkMarkets and ETX Capital. He was also responsible for the development of partnership agreements at both companies. After over 12 years at ETX Capital, he worked at FCA-regulated brokerage ThinkMarkets for a little over a year, before leaving his position there.
Joe Rundle also held a Managing Director role with GKFX in August 2016.
Regulatory challenges
The appointment of Rundle as CEO of Markets.com comes at a challenging time for the industry, as most retail brokers are eagerly awaiting more information on regulation. The European Securities Markets Authority (ESMA) has been working on the final new rules for handling retail investors for well over a year.
Market expectations have been preparing for a publication of the final rules on retail trading at the end of this quarter. Brokers will have close to half a year to implement the necessary changes to their offerings in order to be able to continue on-boarding clients from the European Union.
Consolidation expected and marketing shift
The way brokers are marketing their services is due for a change, as are their operational models. With the expectation that Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term will be reduced to 1:30 or thereabouts, market making brokers are expected to shift their business model due to the significantly different client behavioral patterns at lower leverage levels.
Brokerages are also facing the prospect for additional capital requirements, as Negative Balance Negative Balance In its most basic form, a negative balance represents an account balance in which debits exceed credits. A negative balance indicates that the account holder owes money. A negative balance on a loan indicates that the loan has not been repaid in full, while a negative bank balance indicates that the account holder has overspent.In the retail brokerage space, this phenomenon occurs when a position’s losses in an account exceeds the available margin on hand from a given trader. When a trader place In its most basic form, a negative balance represents an account balance in which debits exceed credits. A negative balance indicates that the account holder owes money. A negative balance on a loan indicates that the loan has not been repaid in full, while a negative bank balance indicates that the account holder has overspent.In the retail brokerage space, this phenomenon occurs when a position’s losses in an account exceeds the available margin on hand from a given trader. When a trader place Read this Term protection becomes mandatory. Capital-intensive regulations in the US have essentially destroyed the retail FX industry in the country, leaving clients with limited options.
Online brokerage Markets.com has appointed Joe Rundle as CEO, according to publicly available information on LinkedIn. He is joining the company with a raft of experience in the industry.
Before Markets.com, Joe Rundle was overseeing the trading operations at ThinkMarkets and ETX Capital. He was also responsible for the development of partnership agreements at both companies. After over 12 years at ETX Capital, he worked at FCA-regulated brokerage ThinkMarkets for a little over a year, before leaving his position there.
Joe Rundle also held a Managing Director role with GKFX in August 2016.
Regulatory challenges
The appointment of Rundle as CEO of Markets.com comes at a challenging time for the industry, as most retail brokers are eagerly awaiting more information on regulation. The European Securities Markets Authority (ESMA) has been working on the final new rules for handling retail investors for well over a year.
Market expectations have been preparing for a publication of the final rules on retail trading at the end of this quarter. Brokers will have close to half a year to implement the necessary changes to their offerings in order to be able to continue on-boarding clients from the European Union.
Consolidation expected and marketing shift
The way brokers are marketing their services is due for a change, as are their operational models. With the expectation that Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term will be reduced to 1:30 or thereabouts, market making brokers are expected to shift their business model due to the significantly different client behavioral patterns at lower leverage levels.
Brokerages are also facing the prospect for additional capital requirements, as Negative Balance Negative Balance In its most basic form, a negative balance represents an account balance in which debits exceed credits. A negative balance indicates that the account holder owes money. A negative balance on a loan indicates that the loan has not been repaid in full, while a negative bank balance indicates that the account holder has overspent.In the retail brokerage space, this phenomenon occurs when a position’s losses in an account exceeds the available margin on hand from a given trader. When a trader place In its most basic form, a negative balance represents an account balance in which debits exceed credits. A negative balance indicates that the account holder owes money. A negative balance on a loan indicates that the loan has not been repaid in full, while a negative bank balance indicates that the account holder has overspent.In the retail brokerage space, this phenomenon occurs when a position’s losses in an account exceeds the available margin on hand from a given trader. When a trader place Read this Term protection becomes mandatory. Capital-intensive regulations in the US have essentially destroyed the retail FX industry in the country, leaving clients with limited options.