Sydney-based FX and CFDs dealer, ACY Securities has appointed Johan Koo to a senior function inside its institutional enterprise. He joins the group as Institutional Enterprise Supervisor with instant impact.
Johan will likely be targeted on additional growing the worldwide gross sales of ACY Securities’ rising wholesale brokerage, in addition to know-how gross sales and consumer acquisition.
Previous to touchdown on the Australian dealer, he spent greater than two years as Head of Buying and selling and Senior Derivatives Seller at easyMarkets, primarily based out from Sydney, New South Wales. This was preceded by a brief stint as a senior company dealer on the Australian subsidiary of Canadian agency, FIRMA International Change.
Earlier in his profession, Koo labored for practically three years as a Gross sales Advisor/PBE at HSBC, his LinkedIn profile reveals.
ACY Securities has just lately revealed its tackle the Australian Securities and Investments Fee’s new guidelines aimed to restrict the extent to which brokers can pump up their retail purchasers’ bets on monetary markets utilizing CFDs merchandise.
“We welcome ASIC’s long-awaited announcement guaranteeing better consumer safety, and we assist ASIC’s efforts in implementing strong and proportional regulation within the margin and CFD sector,” mentioned Justin Pooni, Head of Branding & Communications at ACY Securities.
Certainly, the Aussie regulator is receiving a flood of responses to its newest swipe towards the sale of dangerous investments to retail buyers, with most brokers virtually exhibiting an identical response by claiming that they already function in compliance with most of those restrictions.
CMC Markets and IG Group, the UK’s largest spread-betting firm, additionally responded to ASIC’s restrictions, saying they’re nicely ready and anticipate the evaluate to have restricted monetary implications for his or her enterprise.
Nonetheless, the regulatory updates, which can embody leverage limits, margin closeout guidelines, and unfavourable stability safety, is anticipated to have an effect on Plus500’s revenue from its Australian clients, which accounted for 15 % of the dealer’s revenues in 2019.