|By PR Newswire||
|October 11, 2012 05:01 AM EDT||
LIMASSOL, Cyprus, October 11, 2012 /PRNewswire/ --
As the forex industry continues its impressive growth, Tadawul FX, one of the leading European licensed forex brokers, today announced the appointment of some key industry veterans to the senior management of the company. The new team is also playing a pivotal role in the new growth and development strategy of the company, which includes a rebranding to "Liquid Markets", as part of the next phase of evolution and global expansion of its operations.
Forex Broker Tadawul FX today announces some major changes to the company, including a new management team and CEO as well as an exciting rebranding project; all designed to move this fast-growing company to the next level. A key element to the changes also involves recapitalization of the firm, with several millions of dollars of capital raised, which is now in place to allow the broker to carry out a real and comprehensive growth strategy.
As well as plans for additional regional offices, the new direction of the company will see it restructured in a way that allows it to offer far more competitive trading conditions and also to offer services more geared to much larger private and institutional clients, backed up by the experience and support of the talented and skilled new members of the team.
The newly appointed CEO of the company, Nicolas Bang, comes from a strong FX and financial markets background and brings a wealth of experience to the company. Having co-founded Advanced Currency Markets in Switzerland in 2002, Bang went on to grow the company into a leading player in online foreign exchange trading with more than 200 staff in 5 offices and daily transaction volumes exceeding 2.5bn USD.
Speaking about the changes, Bang says: "Among our priorities during this next phase of growth for the company are some key improvements in the trading conditions and innovative features we provide to our traders, and the first part of this will be focused entirely on greatly improved execution. With a very strong team of experienced industry professionals, we are ensuring that our traders get what they need in terms of execution in order to better tackle the task of successfully trading forex markets." Among the immediate plans for the company will be a new office in London in order to service the growing number of clients in this area, as well as new types of trading accounts.
Several other key industry professionals have also been brought in by Bang, all of whom have many years experience and specialized expertise in FX markets, in order to further strengthen the team, as the company gears up for this next phase of development.
Further to Bang's arrival, a fast track growth strategy has already been put into place involving the successful recapitalization of the company. The next phase is the upcoming rebranding of the company to the name: Liquid Markets.
Chief Operations Officer, Tamer Eid, says: "At Tadawul FX, we are very excited about our upcoming rebrand to Liquid Markets, which reflects our new vision and the next phase of our development. As we all know, liquidity is key to profitable trading and although there will be no changes to existing accounts for our traders, we will be providing some great new features. Some of these will include more accurate pricing through five decimal trading, vast improvements to our execution and even tighter and more competitive spreads along with numerous new features and further enhancements on the technology side down the line."
As a key player in online forex and CFDs trading, with a global base of clients in over 100 countries, Tadawul FX has long been recognized for its high levels of customer support and superior service.
Bang says the company will remain extremely focused on providing what traders are looking for and confirms: "Liquid Markets plans to continue to develop and further build on Tadawul FX's achievements, and aims to differentiate itself in the market, through our corporate culture which aims for excellence. Our vision for the future is to stand out by providing our customers with the tools, liquidity, technology, execution and support they need to give them the highest chances of being part of the winners' circle in this market."
In the wholesale market it is widely believed that retail clients and even large private clients are losers in the FX market. However, Bang believes that key structural changes in the last 12 years in the forex sector have now allowed the market to mature and develop.
He says: "I believe the market has now matured to the point that it will soon be possible to turn the business model on its head and challenge the accepted status quo. This will be a challenge, but at Liquid Markets, we will devote ourselves to providing our customers with something very special in this market; a true ally that is constantly working behind the scenes to help them survive and thrive in their everyday trading experience. Our immediate aims at Liquid Markets are to be a new competitive force in forex providing not only superb trading conditions but also improved transparency, vision and innovation."
About Tadawul FX:
Tadawul FX is an online forex broker. Tadawul FX Ltd is licensed and regulated by the Cyprus Securities & Exchange Commission (license number 103/09) and is also registered with the UK Financial Services Authority (FSA) with registration number 516667, as well as the German regulators BAFIN (Reg 123252).
For further information about Tadawul FX, visit http://www.tadawulfx.com.