With just two weeks to go until the Finance Magnates London Summit, several of the event’s panel participants and speakers have outlined their respective industry roles in a series of interviews. Oded Shefer, founder and Chief Executive Officer of CPattern, explains the regulation issues facing brokers and the impact of Brexit as a catalyst for change in Europe.
1. What is your position and what does your role entail?
I am the founder and CEO of CPattern, provider of automation technology to online brokers.
2. What was the single most important event or development that the market saw in 2016?
I think the Brexit event took everybody by surprise and it created uncertainty about the stability of the eurozone. Much of the financial activity is run from London and the Brexit should affect brokers and technology providers in the long run. This could probably serve as a model for other countries.
Brexit created uncertainty and naturally the entire industry is affected by it.
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Therefore brokers are probably waiting to see how things develop not only in terms of regulation but also in terms of jurisdiction, where to operate and how to run marketing efforts. So the Brexit created uncertainty and naturally the entire industry is affected by it.
3. What are the biggest challenges that the FX trading community is facing? How do they affect your field?
Regulation is probably one of the most challenging issues for brokers. Banning certain activities in France, Holland, Belgium, Israel and maybe other countries that will join in time, leads brokers to fight for their legitimacy.
Regulation is probably one of the most challenging issues for brokers.
Some of them manage to adapt and some prefer to be non regulated. Others even prefer to shut down their businesses. We can see brands disappearing and I think only the large and stable brands will eventually survive.
4. What is the main message you’d like to convey to London Summit delegates?
CPattern is known for many years but we have many innovative solutions today that help brokers automate many aspects of their business, reduce operational costs and increase traders’ value. This is in light of ever growing CPAs. Every decision maker that would like to be updated on the top technology available, and is more than welcome to meet with us during the event and learn on the developments we have been making in the passed year.