The Chief Executive Officer of TradeStation, Salomon Sredni, is set to retire from the board of directors of Monex Japan effective March 31st 2016. The Japanese parent company is reshuffling its board now that the firm has sold off its US and Australian accounts at IBFX to OANDA. The accounts of clients of IBFX who have not objected to the transfer to OANDA were transferred last Friday after the market close.
At the time, the financial terms of the transaction were not disclosed.
Sredni has been serving as Chief Executive Officer of TradeStation since 2007, and kept his position after the company was acquired by Monex Group in 2011. Following the sale of TradeStation’s foreign exchange trading accounts under the IBFX subsidiary, Monex is continuing to evaluate its options for the US business.
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The TradeStation platform, widely popular amongst high net worth retail investors and some institutional investors, was kept by Monex. After the acquisition the company deployed TradeStation to Japanese users and is said to be working on a Chinese version.
That said, the core business of Monex remains in Japan and at present there are no definitive indications about what is the adoption rate of the platform in the country.
Update: TradeStation has issued an announcement that Sredni will also be leaving his positions at the U.S. subsidiary of the company and will be succeeded by John Bartleman.