The group has been aggressively building up its presence in Germany.
MultiBank Exchange Group has continued to expand its market presence, this time in Europe after obtaining a new license from BaFin. The approval will also see the group acquire a 100 percent stake in MEX Asset Management GmbH, paving the way for a European headquarters in Frankfurt in the near future.
The group has been aggressively shoring up its regulatory status globally, and it is now licensed by ASIC in Australia, the FSC in the British Virgin Islands, and China. The addition of BaFin is a nod to the eventual Brexit scenario in 2019, signalling MultiBank Exchange’s desire to be licensed within the bloc.
[gptAdvertisement]
Naser Taher, Chairman of MultiBank Exchange Group, comments on the news: “The expansion of the Group in Germany, the Cayman Islands and the British Virgin Islands is just the beginning of establishing MultiBank Exchange Group as an absolute market leader in financial regulations, cutting-edge products and innovative financial technology.”
Indeed, a looming Brexit date as well as the new MiFID II regime coming into effect on January 3, 2018 reflects some of the biggest regulatory changes to date. Adding to these complications are passporting concerns in the UK, which MultiBank Exchange has wasted no time in addressing head on.
Consequently, MultiBank Exchange Group’s board has resolved to suspend its UK operations and operate its European business through its soon-to-be-launched European headquarters in Frankfurt. Previously, the Group conducted business in the UK through MEX (Europe) Limited, which is ultimately owned by Marcus Cumberland. This business relationship with MEX (Europe) Limited has been terminated.
The eventual launch of a Frankfurt headquarters will be a strategic stroke for MultiBank Exchange Group, which is looking to focus on several key countries in close proximity in the heart of Europe.
“I say this is just the beginning because, in fact, MultiBank Exchange Group is currently in the process of establishing further regulated entities and subsidiaries in Dubai, Spain and Uruguay, in addition, of course, to continued expansion in the DACH countries,” Mr. Taher added.
MultiBank’s new office in Frankfurt will help service Germany, Austria, and Switzerland, offering a full suite of financial services and products for the region. The announcement also follows months of increased emphasis in Germany – previously, MultiBank increased its regulatory status through the addition of new licenses via BaFin-regulated MEX Asset Management GmbH in the country.
MultiBank’s foray into the German market has been a long time coming. Last year, the group saw the creation of its index on the Frankfurt Stock Exchange under the name of MultiBank Index.
The group’s ambitions are in line with other players in the banking sector, namely Barclays, Goldman Sachs, JPMorgan, Morgan Stanley and others. This past July, most lenders operating in the UK were obligated by the Bank of England to disclose any relocation plans ahead of Brexit. Most banks opted for either Dublin or Frankfurt as a future EU trading base.
MultiBank Exchange Group has continued to expand its market presence, this time in Europe after obtaining a new license from BaFin. The approval will also see the group acquire a 100 percent stake in MEX Asset Management GmbH, paving the way for a European headquarters in Frankfurt in the near future.
The group has been aggressively shoring up its regulatory status globally, and it is now licensed by ASIC in Australia, the FSC in the British Virgin Islands, and China. The addition of BaFin is a nod to the eventual Brexit scenario in 2019, signalling MultiBank Exchange’s desire to be licensed within the bloc.
[gptAdvertisement]
Naser Taher, Chairman of MultiBank Exchange Group, comments on the news: “The expansion of the Group in Germany, the Cayman Islands and the British Virgin Islands is just the beginning of establishing MultiBank Exchange Group as an absolute market leader in financial regulations, cutting-edge products and innovative financial technology.”
Indeed, a looming Brexit date as well as the new MiFID II regime coming into effect on January 3, 2018 reflects some of the biggest regulatory changes to date. Adding to these complications are passporting concerns in the UK, which MultiBank Exchange has wasted no time in addressing head on.
Consequently, MultiBank Exchange Group’s board has resolved to suspend its UK operations and operate its European business through its soon-to-be-launched European headquarters in Frankfurt. Previously, the Group conducted business in the UK through MEX (Europe) Limited, which is ultimately owned by Marcus Cumberland. This business relationship with MEX (Europe) Limited has been terminated.
The eventual launch of a Frankfurt headquarters will be a strategic stroke for MultiBank Exchange Group, which is looking to focus on several key countries in close proximity in the heart of Europe.
“I say this is just the beginning because, in fact, MultiBank Exchange Group is currently in the process of establishing further regulated entities and subsidiaries in Dubai, Spain and Uruguay, in addition, of course, to continued expansion in the DACH countries,” Mr. Taher added.
MultiBank’s new office in Frankfurt will help service Germany, Austria, and Switzerland, offering a full suite of financial services and products for the region. The announcement also follows months of increased emphasis in Germany – previously, MultiBank increased its regulatory status through the addition of new licenses via BaFin-regulated MEX Asset Management GmbH in the country.
MultiBank’s foray into the German market has been a long time coming. Last year, the group saw the creation of its index on the Frankfurt Stock Exchange under the name of MultiBank Index.
The group’s ambitions are in line with other players in the banking sector, namely Barclays, Goldman Sachs, JPMorgan, Morgan Stanley and others. This past July, most lenders operating in the UK were obligated by the Bank of England to disclose any relocation plans ahead of Brexit. Most banks opted for either Dublin or Frankfurt as a future EU trading base.
Saxo's Ownership Change: Sampo Sells 19.8% Stake in the Brokerage
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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