Equiti Group, a provider of online trading technology and multi-asset financial products, has received a regulatory license from the
Cyprus Securities and Exchange Commission (CySEC)
CySEC granted the license to Cypriot subsidiary, Equiti Global
Markets Limited, to operate in Europe, the Group announced on Wednesday
Equiti Group also announced the appointment of Hesham Hasanin,
the CEO of EGMLabs in Cyprus as the
CEO of Equiti Global Markets Limited.
Hasanin was previously the Global Head of Trading Solutions for Equiti Group.
The new license is an addition to Equiti Group’s existing seven
regulatory licenses in the United Kingdom, Kenya, United Arab Emirates (UAE), Armenia, Jordan and the Seychelles.
‘A Significant Milestone’
The licensing comes six months after the Group received an over-the-counter
derivatives and foreign exchange spot market license from the UAE Securities
and Commodities Authority (SCA), thus helping to strengthen its
presence in the Middle East.
The technology provider described the CySEC license
as “a significant milestone in its ambitious global growth strategy.”
It also noted that Cyprus is an ideal location in Europe for the
Group to extend its business owing to the country’s established regulatory
framework and business hub.
Iskandar Najjar, Equiti Group CEO, noted that the license will
enable the multi-asset financial products provider “to extend our
business-to-business offering in a secure, regulated manner to clients in
Europe.”
Najjar emphasized that regulation and good governance remains a
key part of Equiti’s business model”.
“Our CySEC license gives our clients peace of mind by knowing that
they are with a global broker in Europe that they can trust and that with
CySEC’s regulatory oversight, strict financial market regulatory standards are
adhered to,” Najjar explained.
Regulated subsidiaries under the Equiti Group include Equiti
Capital UK Limited (United Kingdom), Equiti Securities Currencies Brokers LL
(UAE), Equiti Brokerage (Seychelles), and EGM Securities (Kenya).
Others are Equiti Group Limited Jordan LLC (Jordan) EGM Futures
DMCC (UAE), and Equiti AM CJSC (Armenia).
Growth Moves
Finance Magnates reports last month that Equiti Capital UK Limited
doubled its
profit in 2021 despite
recording only a 5% jump in revenue.
The subsidiary also generated a revenue of $32.53 million in 2021,
compared to $30.9 million in the prior year.
In June, Equiti Brokerage expanded its
crypto CFD offerings,
becoming one of the top providers with the largest crypto CFD basket.
Earlier in May, the Seychelles subsidiary added more than
40 fully-paid cryptocurrency CFDs to its product range, continuing months of expansion in its
product offerings.
Equiti Group, a provider of online trading technology and multi-asset financial products, has received a regulatory license from the
Cyprus Securities and Exchange Commission (CySEC)
CySEC granted the license to Cypriot subsidiary, Equiti Global
Markets Limited, to operate in Europe, the Group announced on Wednesday
Equiti Group also announced the appointment of Hesham Hasanin,
the CEO of EGMLabs in Cyprus as the
CEO of Equiti Global Markets Limited.
Hasanin was previously the Global Head of Trading Solutions for Equiti Group.
The new license is an addition to Equiti Group’s existing seven
regulatory licenses in the United Kingdom, Kenya, United Arab Emirates (UAE), Armenia, Jordan and the Seychelles.
‘A Significant Milestone’
The licensing comes six months after the Group received an over-the-counter
derivatives and foreign exchange spot market license from the UAE Securities
and Commodities Authority (SCA), thus helping to strengthen its
presence in the Middle East.
The technology provider described the CySEC license
as “a significant milestone in its ambitious global growth strategy.”
It also noted that Cyprus is an ideal location in Europe for the
Group to extend its business owing to the country’s established regulatory
framework and business hub.
Iskandar Najjar, Equiti Group CEO, noted that the license will
enable the multi-asset financial products provider “to extend our
business-to-business offering in a secure, regulated manner to clients in
Europe.”
Najjar emphasized that regulation and good governance remains a
key part of Equiti’s business model”.
“Our CySEC license gives our clients peace of mind by knowing that
they are with a global broker in Europe that they can trust and that with
CySEC’s regulatory oversight, strict financial market regulatory standards are
adhered to,” Najjar explained.
Regulated subsidiaries under the Equiti Group include Equiti
Capital UK Limited (United Kingdom), Equiti Securities Currencies Brokers LL
(UAE), Equiti Brokerage (Seychelles), and EGM Securities (Kenya).
Others are Equiti Group Limited Jordan LLC (Jordan) EGM Futures
DMCC (UAE), and Equiti AM CJSC (Armenia).
Growth Moves
Finance Magnates reports last month that Equiti Capital UK Limited
doubled its
profit in 2021 despite
recording only a 5% jump in revenue.
The subsidiary also generated a revenue of $32.53 million in 2021,
compared to $30.9 million in the prior year.
In June, Equiti Brokerage expanded its
crypto CFD offerings,
becoming one of the top providers with the largest crypto CFD basket.
Earlier in May, the Seychelles subsidiary added more than
40 fully-paid cryptocurrency CFDs to its product range, continuing months of expansion in its
product offerings.
