Swissquote apply for CySEC license to boost operations in Europe
Swiss-based CFD and forex broker Swissquote received a new operating licence from the Cypriot Securities and Exchange Commission, the financial regulator in Cyprus.
Muamar Behnam (Head of Sales at Swissquote) stated that the license was given to a Swissquote Capital Markets Ltd. (CY) subsidiary. The new entity will begin operations next year, though there are no specific dates. Behnam posted the following in a Linkedin posting:
Very happy to share this new milestone in Swissquote’s young history. We received our license from CySec (Cyprus Securities and Exchange Commission) and are ready to start operations in the New Year. Swissquote Capital Markets will be the name of this new entity of the Group.
Many thanks to all those who worked hard to make this happen, the team here in Limassol – Elif Kundakci, Zoltan Nemeth, Alexandros Panagi, Fini Ioannou, Ioana Polykarpou, Daniella Karam who is the cornerstone of any project I have done at Swissquote, our four Non-Executive Directors, John Georgoulas, Sophocles Parapanos, Marc Burki, Jan de Schepper, and the 50+ Swissquote collaborators, from Staff to Directors, at our Headquarters in Gland who helped, supported and sweated a lot to get us over the line.
Looking forward to 2023 now!!!
The Cyprus Investment Firm (CIF license) allows the broker-banking-licensed broker to expand its operations in Europe. It also allows trading services to members countries of the European Economic Area. Swissquote has established a Limassol-based team to prepare for the launch in Cyprus of its operations. Zoltan Nemeth was also appointed Chief Operating Officer for Cyprus.
Swissquote Group Holding SA, a Swiss bank group, specializes in online trading and financial services. Since 29 May 2000, the Group’s shares are listed on SIX Swiss Exchange under ticker symbol “SQN”. The headquarters of the Group are located in Gland (Switzerland).
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