Online Brokerage Appoints Joe Rundle as CEO

Online brokerage has appointed Joe Rundle as CEO, according to publicly available information on LinkedIn. He is joining the company with a raft of experience in the industry.

Before, Joe Rundle was overseeing the trading operations at ThinkMarkets and ETX Capital. He was also responsible for the development of partnership agreements at both companies. After over 12 years at ETX Capital, he worked at FCA-regulated brokerage ThinkMarkets for a bit over a year, before leaving his position there.

Joe Rundle also held a Managing Director role with GKFX in August 2016.

Regulatory Challenges

The appointment of Mr Rundle as CEO of comes at a challenging time for the industry as most retail brokers are eagerly awaiting more information on regulation. The European Securities Markets Authority (ESMA) has been working on the final new rules for handling retail investors for well over a year.

Market expectations have been preparing for a publication of the final rules on retail trading at the end of this quarter. Brokers will have close to half a year to implement the necessary changes to their offerings in order to be able to continue on-boarding clients from the European Union.

Consolidation Expected and Marketing Shift

The way brokers are marketing their services is due for a change as are their operational models. With the expectation that leverage will be reduced to 1:30 or thereabouts, market making brokers are expected to shift their business model due to the significantly different client behavioral patterns at lower leverage levels.

Brokerages are also facing the prospect for additional capital requirements as negative balance protection becomes mandatory. Capital-intensive regulations in the US have essentially destroyed the retail FX industry in the country, leading clients with limited options.

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