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Forex Brokers In Shambles As New Rules Draw Close

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The new regulations established by the European Securities and Markets Authority (ESMA) are drawing closer and brokers are fidgeting. The implementation date of these rules that touch on a vast section of the forex market is set for August 1. There are many new changes that are expected to come with these new rules, among them, the reduction of the margins of major currency pairs. As of now, currencies get up to 200:1 ratios but the expected rules establish the maximum ratio to be 30:1. As expected, the volumes of trade and revenues will be highly affected by the rules. Other changes that will be heralded by the regulations include the banning of negative account balances that caused havoc in 2015.

Owing to the expected changes, a lot of brokers are set to either move to new operating bases outside Europe or completely leave the business before the regulations take effect. The market is definitely set for a turbulence as these adjustments pan out. If the brokers shift their bases though, their fate is unlikely to change as regulations will still follow in whatever country they might go. At the end of the day, the clients will have the final say as to whether to do business with the brokers or not.

Most of the smaller brokers have the option of merging their businesses with established brokers in the market. Failure to do this would render their business untenable due to high operating costs. It is expected that the new changes will raise the operating costs for brokers while the revenues will take a downward turn. Some of the major brokerage companies have already started giving out details of how much the new rules will affect the market. Some big firms like Dukascopy have already either expanded to other markets or planned to do so.

The forex market is usually tough for most traders and the high levels of leverage come with both benefits and disadvantages. Most traders today can share experiences during a forex seminar as there are many of those every year.

CME records high volumes in the month of May

CME Group Inc. came out with positive news that seems to be a reflection of the crisis in Italy and the abrupt market movements. CME reported a year on year growth of 34% by the month of May, which was higher than the previous year. In addition, EUR/USD recorded a breakout from a slump that lasted for three months. The over 1.1 million daily contracts recorded were responsible for this development.

Questrade receives accolades in Canada

In the Canadian market, long-standing firm Questrade was touted as one of the best in the market from the annual ranking of Canadian brokers. The firm came out on top of the Initial Impressions category and also came out as a strong contender in the overall market category. Other areas of the firm that were ranked as impressive include; customer service, mobile accessibility, and fees and commissions. The company has had a number of innovative solutions which include free ETF’s, a remarkable chat service and one-cent trades. MoneySense, in partnership with Surviscor Inc., carried out the research and ranking.

LCG woes persist as more staff leave

The London Capital Group has been facing several challenges in recent times. A considerable number of employees have left the firm and the latest person on the list is the CEO Charles-Henri Sabet. The many challenges that the firm has faced have not waned despite it raising huge amounts of capital in recent years. Two years ago, over one-third of the employees left the company and the departure by the CEO is simply a clear sign of failure by the firm to compete with its rivals. Some firms, including GAIN and Cantor Fitzgerald, had earlier made moves towards acquiring the troubled firm. Those moves, however, did not materialize after both firms review LCG’s financials.

XTB gets new Compliance Officer

XTB U.K. has a new Compliance Officer. Suraj Patel, the new head in the department, comes at a time when the new rules in the financial market are set to take place. This has indicated the firm’s devotion to comply with the expected regulations. Suraj Patel will be responsible for the firm’s cooperation with the Financial Conduct Authority (FCA). XTB U.K. has recently received some favorable ranking according to online broker reviews.

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Student @ Advanced Digital Sciences Center, Singapore. Travelled to 30+ countries, passion for basketball.

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SkyBridge Receives “Exporter of the Year” award from Global Chamber Phoenix

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The SkyBridge air logistics project received the “Exporter of the Year, Services” award, granted by the Phoenix Global Chamber within its annual Grow Globally Fair, which brings exporters and importers together, along with international investors.

The award was presented to SkyBridge, a company chaired by Ariel Picker and directed by Felipe Monroy. The effort to position www.skybridgeaz.com as one of the leaders in the international logistics sector within the business community in Arizona has been coordinated by Marco Lopez, president of Intermestic Partners.

SkyBridge is planned to become the first international air cargo hub to house Mexican and US Customs in the United States.

Its operations are based at the Phoenix-Mesa Gateway Airport and will allow e-commerce companies and manufacturers, among others, to do business in Mexico and throughout Latin America, with a more efficient and profitable transport of goods between countries, thorough inspections and adequate security controls.

The development of this project will create 17,000 new direct and indirect jobs, as well as more than 3.5 million SF of development which will include industrial, aeronautical, office and commercial real estate.

The construction plan will detonate other benefits in the border region. Arizona’s proximity to Mexico and its surroundings are highly favorable for business, and they make the state a natural center for air cargo companies, large and small, eager to see their businesses grow on both sides of the border.

In this sense, Grow Globally Fair gives global business leaders the opportunity to see what’s new, who is new and how they can grow better.

With that purpose, the Phoenix Global Chamber awards prizes in honor of the success achieved in international markets and in the United States, whose categories are: Exporter of the year, product; Exporter of the year, services; Importer of the year; Landed Company to see; Cross-border consulting; Transcendent leader of the community; International banking; International commercial law; Immigration lawyer; Diplomat of the year; Translation and localization; International logistics; International accounting and taxes; International finance and insurance; International Emerging Risk; International Talent and Payroll: International Real Estate Leader; International wealth management; International business training and discourse; International IT services; International market; International education; Collaborating Organization; International nonprofit; International business city; an Elected leader with global mentality; Young Global Leader, and Global Leaders of the tribe of the year.

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Axel Andorff and Carsten Isensee, new SEAT Vice presidents for R&D and Finance

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The Spanish car company, SEAT is betting on the future by hiring two prestigious new executive vice presidents. The company hired Axel Andorff as the new executive vice president of R&D (research and development), and Carsten Isensee has been appointed as the new executive vice president for finance. With both appointments, SEAT is focusing on Innovation and securing the company’s record profit and investment figures.

Who are Axel Andorff and Carsten Isensee

Research & Development and Finance are two of the most important areas on a car company. The new vice presidents of these areas, are both executives with international experience and extensive knowledge on the car market. Axel Andorff will be replacing Dr. Matthias Rabe (who will run the technical development operations area at Volkswagen), and Carsten Isensee, who is taking over for Holger Kintscher (who will be working as head of IT and finance at Volkswagen).

Let’s see who are these two new incorporations to the SEAT executive staff. 

Axel Andorff (R&D Vice president)

Axel Andorff is a German economic and mechanical engineer (from the German University of Kaiserslautern), with 20 years of experience at the car market, where he worked for Mercedes and held various positions in the research & development area of that company.

New responsibilities at SEAT

The new R&D vice president will be in charge of the company’s innovation projects, especially those involving connectivity and car electrification, developing technologies and new forms of mobility. He is in charge of the SEAT Technical Centre, who is focused on R&D. It has an area of 43,000 square meters, prepared and equipped (of a total area that covers a surface of 200,000 square meters). More than 1000 qualified engineers work on this center, using advanced technology (simulations, virtual reality…) to create modern and reliable cars, and developing new car technology.

In 2018 SEAT allocates 862 million euros on total investments and R&D expenses, 47% more than in 2017.

Carsten Isensee (Executive Vice-President for Finance)

Carsten Isensee has a degree in business management from the German University of Wilhelmshaven, and he has made his entire career in the Volkswagen company. His last charge was in China as an executive vice president for finance.

2018 was a historic year for SEAT. Sales have grown by over 10%, increasing from 468,400 sold vehicles in 2017 to 517.600 in 2018. With the incorporation of Carsten Isensee to the company, they expect to continue increasing their sales along 2019 and the next years.

New responsibilities at SEAT

The Finance vice president joins the Spanish car company with the objective of reinforcing the company’s profit record and investment figures, and to strengthen its financial basis for future Automotive (LINK NOFOLLOW) projects.

The car market is a very competitive sector. Last years SEAT increased its figures on sales, profits and investments. With the new vice presidents incorporations, the company is focusing on increasing these figures and securing its position on the market.

As SEAT president Luca de Meo said: “It’s time to look to the future with the ambition to grow”.

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Gutemberg Dos Santos and Robert Kiyosaki share their vision of leadership

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Gutemberg Dos Santos is a Brazilian-American entrepreneur and one of the main promoters of the use of Blockchain technology and crypto economy.

Gutemberg Dos Santos and Robert Kiyosaki

Gutemberg Dos Santos a couple of years ago sponsored an event in which the Guinness Record broke with the largest number of people playing Cash Flow, a game developed by Robert Kiyosaki. Today, Dos Santos shares some reflections that emerged on that occasion about what a good leader is. 

A good leader is an excellent guide to reach common goals. If I want my team to work successfully I must share my skills and offer the best tools for their performance. I am also committed to strengthening the capabilities of each of the members and never assume that we all work the same as diversity enriches and complements the unit. 

Sharing experiences. If I share my experiences with the rest of my team regarding the success and failures I have had in some projects, I will empathize with my team and together we will be able to reach the goals proposed for the company.

Listening. This part is essential for a business to prosper, if I do not listen to my people I will be walking towards darkness. I must always remain alert to the doubts and questions that my team may have, in this way I will know if we are all on the same frequency and we are walking towards the same course.

Motivating my team. I take my time to know my team, how old they are, what is their educational and socioeconomic level; what goals they pursue in the short and long term. This will help me find keywords that guide me to be empathetic with them and be able to have better communication. 

Being proactive. When facing a difficult situation, I try to get the best out of it, without falling into frustration and rather detect alternative solutions. Trusting and being flexible. I am attentive to the capacities and strengths within my work team, this way I trust people in order to delegate tasks, likewise I am open to listen to proposals and suggestions that lead us to strengthen our project. 

For more information, please visit : www.gutembergds.com 


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