OUINEX has appointed Nathan Meyer as Managing Director for South Africa. He will lead the company's local operations and team, and oversee its strategy in the country.
London's trading industry is coming home!
The move comes as international brokers face higher costs for maintaining local operations in South Africa. A recent Finance Magnates report found that the country's ODP requirements have led some foreign brokers to withdraw licence applications or give up existing licences, citing the costs of local offices, compliance functions and other requirements.
Meyer has participated in panels at the two most recent Finance Magnates Africa Summit editions. At FMAS:25, he joined a discussion on the growth of prop trading firms, their business models and their relationship with traditional brokerages.
At FMAS:26, he took part in a panel examining the economics of prop trading in Africa and the challenge of attracting traders who are more familiar with traditional brokers.
OUINEX Expands South Africa Operations
South Africa has an established retail trading market, with communities of traders, introducing brokers, educators and online trading groups. Traders in the country are also familiar with international brokerage brands.
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Under Meyer, the local team will focus on commercial strategy, partnerships, introducing broker relationships and trader acquisition. It will also work on adapting OUINEX's offering for South African clients.
"Nathan will work alongside our international leadership and product teams while leading the execution of our South African strategy," said Ilies Larbi, CEO and Co-Founder of OUINEX.
Larbi said the appointment comes as the company expands across multi-asset trading, cryptocurrency and the prop trading sector.
Experience Across the Industry
Meyer has held roles across the brokerage, prop trading and retail trading sectors. He has served as CEO of multiple prop firms, founded his own prop firm, and held executive director and advisory positions at brokerages and trading companies. He also has more than 13 years of trading experience.
Commenting on his appointment, Meyer said the objective was not simply to introduce another international brand to South Africa.
"It is to build a genuinely competitive local proposition around the way South African traders actually trade, while giving them access to the wider OUINEX ecosystem," he said.
