Exclusive: Destek Markets UK Gains FCA License, Adds Matthew Wright as CEO

Destek Markets, a Turkish provider of foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (FX) and contracts-for-difference (CFDs), has made major moves recently, procuring a license with the Financial Conduct Authority (FCA) for its UK entity, Destek Markets UK, while also injecting new leadership into its UK branch, Finance Magnates has learned.

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Destek Markets UK Limited recently garnered FCA approval (Reference number: 739949) and licensing earlier this month. The approval is instrumental for the group as it looks to expand its UK offering, which is now a fully authorized member in the country as a financial services provider.

The group has a diverse offering of FX and CFDs, including stock indices, metals, and other commodities. Destek Markets UK Ltd was originally incorporated in the UK back in November 2015 in Greater London, having just received FCA authorization.

Veteran Appointment

In tandem with the new license, Destek Markets UK has also installed a new senior executive to help lead its operations. Matthew Wright has been appointed as the group’s newest Chief Executive Officer with immediate effect, who joins Destek Markets UK in London.

Mr. Wright comes over to Destek Markets from Uptick Trading Ltd – he worked as a Managing Director with the group for just five months dating back to October of last year. His most extensive tenure was with GAIN Capital Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term.com UK, which saw him hold the role of Chief Operating Officer (COO) for the Europe, Middle East, and Africa (EMEA) region.

According to Mr. Wright in an exclusive statement to Finance Magnates: "I am relishing the challenge of building the Destek brand in the UK . Very early on in my conversations with the founder of Destek and his senior team I realised we shared the same values and ambitions."

"To succeed in this market we will need to deploy a forensic focus in all areas of the business which we will do by employing and motivating the best staff, and utilising technology wherever possible to create operational efficiency and with that the best client experience," he added.