Matthias Mokin has made an extra investment of nearly £200,000 in the UK prime of prime provider, Price Markets UK to fund its newest tech development, Finance Magnates has learned.
The German investor bought the majority ownership in Price Markets earlier this year when founder Alexander Talei sold his stake in the FCA-regulated PoP provider.
The transaction has slightly changed the ownership percentage ratio between the two major shareholders, which before the last investment stood at 51.95% for Matthias Mokin and 48.05% for Tan Jit Chun.
Elsewhere, Price Markets UK has secured the services of Demetris A Tsingis and his FINCAP team (outsourced contract for services) as its Chief Compliance Officer (CCO).
In his new capacity, Demetris and his team will oversee the company’s compliance and surveillance matters. His new position includes various responsibilities that also cover the role of money laundering reporting officer (MLRO) since he already holds a CF11 accreditation with the FCA.
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He will be tasked with ensuring adherence to the relevant rules, regulations, and guidelines by which the firm is bound. Given the increasing nature of the business, on a global scale, and the regulatory landscape that is constantly evolving, this is a greater challenge now than ever before.
“We have worked together in the past and Demetris was always extremely professional and result orientated. I am confident that he will bring his valuable input into the company’s structure and activities,” said Price Markets CEO Alex Iakobachvili.
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Tsingis has gained extensive experience from more than 10 years in compliance roles and managing large scale regulatory projects. His career, which spans over two decades, encompasses several stints as Arthur Andersen / Deloitte in London, in M&A in BNP Paribas New York, and at the in Private Banking in Bank of Cyprus, after which he returned to the financial advisory space in 2013 where he specialised in the investment sector.
On the technology front, Price Markets UK has expanded its offering by incorporating the MetaTrader 5 (MT5) trading platform into its live trading infrastructure.
MT5 is a much more capable platform when it comes to offering equities, futures and other exchange-traded instruments. As such, technology providers were keen to satisfy this demand by further pushing the deployment of the platform and its infrastructure, allowing brokers to streamline their operations and empowering them to focus their resources on growth.
“Our technology partner company Brilliant Markets Ltd (UK) have already tested MT5 platform and connected solid liquidity pool via latest tech solution NeroEx. These all substantially improved order execution speed achieving 3-7 milliseconds. Our technology team are currently working on the software solution to integrate CME, NYSE, LSE etc. stocks into the MT5 ; and already are building the cabinet in Equinix LD7 – the leading global colocation operator; with up to 10Gb/s internet speed,” Price Markets further explains in a statement to Finance Magnates.