CySEC-regulated FX broker UGL Exchange has promoted Alicia Ziomek to serve as its new Chief Executive Officer (CEO), effective immediately.
Ziomek has nearly seven years of experience in the capital markets and originally joined the Cypriot retail firm back in June 2018, where she most previously served as chief operating officer. In her capacity as COO, a position she seemingly still retains, Alicia oversees daily operations of the company and the work of executives across IT, marketing, sales, and finance.
Ziomek joined UGL Exchange from FXGlobe where she served for nearly seven months as its compliance officer.
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Prior to that, Ziomek held various positions at BDSwiss, one of Europe’s financial institutions specializing in Forex/CFD trading based in Zug, Switzerland. During her two-year tenure with BDSwiss, she worked as Head of back office, reviewing the documentation submitted by clients for opening trading accounts. Alicia was then promoted in 2016 to take on an expanded role as anti-money laundering & compliance officer.
Ziomek joins UGL Exchange as regulations get tougher
Earlier in his career, Ziomek worked as a civil litigator at law firm Evangelos Pourgourides LLC.
Ziomek joined UGL Exchange just as the company launched its operations in Cyprus back in June 2018. The new brokerage operates as an investment firm licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) and specializes in providing foreign exchange currency trading.
Cyprus has long positioned itself as a jurisdiction that is ideal for international FX providers that are looking for a stamp of European approval. However, succeeding as a Cypriot retail forex broker in recent years is no easy task anymore. At this time, CySEC confirmed that the application of ESMA’s new limitations is not limited to clients who are based within the EEA. The Cypriot regulator explained that the MiFID II/MiFIR regime does not discriminate on the basis of the location of clients, but rather it applies to services provided by investment firms which are authorized in the EEA.