The iFX EXPO in Cyprus concluded the second and final day on Thursday, capping an event that successfully resulted in the coalescence of leading Forex and binaries personnel and the industry’s most influential brokers at the Grand Resort Hotel in Limassol.
The robust panels of experts and speakers during the second day featured such topics as Marketing, EMIR and Dodd-Frank Regulation, and Digital Currencies. Additionally, attendees were afforded insight into the realm of broker behavior and integration, kicked off by a keynote speech.
Second Day Summary
Following an eventful first day campaign that featured the attendance of a myriad brokers across Forex and binary options, attendees partook in a rich slate of presentations, workshops and panels. Day 2’s only keynote speaker was Nir Yaffe, VP PS, at CorrSight – Mr. Yaffe detailed the dynamic behavior of brokers and challenges in today’s financial climate. This included customer integration, regulatory affairs, Dodd-Frank protocols and processes, and consumer protection, among others. In addition, Mr. Yaffe detailed interactions with traders, encompassing deposits, account opening, etc.
Panel Recap: East & West Marketing
The anticipated panel and first of the day featured a distinguished contingent that included Matt Vann (Oxegen Media), Sarah Henry (Conversion Pros), Pavel Bykov (Faunus Analytics), Gil Erez (Tradologic) and Andreas Lazarou (ADS Securities), moderated by Forex Magnates’ Adil Siddiqui.
Given the importance of proper marketing across Forex, it seemed as no surprise that this would be a hot topic heading into the iFX EXPO. The panel touched on key points such as conversion rates and different marketing approaches across the Eastern and Western locales. Moreover, advertising fundamentals such as click rates and cost per acquisition were also addressed in due course, explaining how brokers could make use of these constructs across different regions in the world.
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Panel Recap: EMIR & Dodd-Frank
The second panel of the day shifted the focus towards the bridge between EMIR and Dodd-Frank regulation – the panel included Nick Mortimer (CFH Clearing Ltd), Shay Hamama (Marketpulse), Mark Kelly (Abide Financial), Tal Itzhak Ron (Drihem & Co) and Steven French (Traiana), and was moderated by Forex Magnates’ Steven Hatzakis.
The focus of the discussion dealt with the compliance and regulatory mandates across a variety of financial instruments. Moreover, the challenges and growing pains of the EMIR implementation and trade reporting were acknowledged, bringing a unique perspective of the process from industry experts that understand it first hand.
According to Mark Kelly, Director, Abide Financial, in a statement during the EMIR panel, “Clients are asking for solutions that cannot possibly be provided because aspects have not been provided yet. Moreover, clients do not have time to absorb the rule changes though we can provide clients with an interface. The direct effect is previous projects have to get pushed down development stack because regulation always has the priority.”
Panel Recap: Digital Currencies
The third and final panel of the Expo moved the focus to one of the most enigmatic aspects of the financial industry – digital currencies. Weighing in on the topic was a panel comprised of Itay Damti (Leverate), Timur Latypoff (Timur Latypoff Technology Lab), Alfred Shaffir (Polycoin) and Yoav Elgrichi (YuuPay Secure Pte Ltd), moderated by Ron Finberg, founder of Digital Currency Magnates.
The panel touched on a variety of key issues facing Bitcoin, namely its feasibility as a payment mechanism, the ability of regulation, and its future as a taxable construct in areas like the United States. These issues were underscored by the potential risks involved in Bitcoin, however it was also revealed that there were both advantages and disadvantages of Bitcoin.