Revenues of UK Subsidiary of ayondo Nearly Double in 2016
- The social trading broker's losses declined 25 percent in 2016 while its turnover increased materially.
According to a UK Companies House filling, ayondo Markets Limited, the FCA-regulated subsidiary of ayondo, posted increased revenues in 2016. The company's turnover almost doubled year-on-year, from $9.9 million (£7.4 million) to $19.1 million (£14.2 million)
The UK subsidiary of ayondo also reported a net loss of $1,450,000 (£1,073,000) for 2016. The figure is nearly 25% lower than its 2015 losses of $1,950,000 (£1,443,000).
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According to the report, all major indicators saw improvement, with the number of trades, number of active clients and volumes traded all “achieving new highs within the accounting period.”
"2016 was not only year of revenue growth but a year of laying the operational foundations for providing a harmonized product that is capable of acquiring a significant geographical footprint across both Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term only and social trading within Europe, the Middle East and Asia,” the official filing states.
During 2016, the social trading brokerage launched a revamp of its website to offer improved usability and a new design. ayondo offers a broad spectrum of services to both retail and institutional sectors.
Recently, the Frankfurt-based company obtained one of the most lucrative licenses in Europe – one from Germany's financial regulator, BaFin.
The company's CEO, Robert Lempka, commented to Finance Magnates that it took over a year to acquire the BaFin license: “We put customer experience and protection at the centre of our business activities, and the BaFin licence is a benefit to both our retail and B2B clients."
"Furthermore, transparency and a clear regulatory environment is a necessity as we focus on our international expansion. The licence represents a milestone within the European Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term market and paves the way for future market developments.” Mr Lempka explained.
According to a UK Companies House filling, ayondo Markets Limited, the FCA-regulated subsidiary of ayondo, posted increased revenues in 2016. The company's turnover almost doubled year-on-year, from $9.9 million (£7.4 million) to $19.1 million (£14.2 million)
The UK subsidiary of ayondo also reported a net loss of $1,450,000 (£1,073,000) for 2016. The figure is nearly 25% lower than its 2015 losses of $1,950,000 (£1,443,000).
[gptAdvertisement]
According to the report, all major indicators saw improvement, with the number of trades, number of active clients and volumes traded all “achieving new highs within the accounting period.”
"2016 was not only year of revenue growth but a year of laying the operational foundations for providing a harmonized product that is capable of acquiring a significant geographical footprint across both Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term only and social trading within Europe, the Middle East and Asia,” the official filing states.
During 2016, the social trading brokerage launched a revamp of its website to offer improved usability and a new design. ayondo offers a broad spectrum of services to both retail and institutional sectors.
Recently, the Frankfurt-based company obtained one of the most lucrative licenses in Europe – one from Germany's financial regulator, BaFin.
The company's CEO, Robert Lempka, commented to Finance Magnates that it took over a year to acquire the BaFin license: “We put customer experience and protection at the centre of our business activities, and the BaFin licence is a benefit to both our retail and B2B clients."
"Furthermore, transparency and a clear regulatory environment is a necessity as we focus on our international expansion. The licence represents a milestone within the European Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term market and paves the way for future market developments.” Mr Lempka explained.