Prop Firm Simplex Trading Welcomes Seasoned Veteran as New Managing Director
A financial
and trading industry veteran with over 25 years of experience, Benjamin
Londergan, joined Simplex Trading in June as the Managing Director of Strategic
Business Development.
In his new
role, Londergan will support Simplex in maintaining its position in the
proprietary trading and market-making sectors. Although he spent the last seven
years outside the financial industry, operating as Chief Operating Officer for
CarAdvise, he has previously worked for several well-known trading firms.
These
include Options, TraderTools, Belvedere Trading, Convergex, and CBOE.
Additionally, from 1998 onwards, he served for over 15 years as President of
Group One Trading, which, like Simplex, specializes in prop trading.
“We
are happy to introduce Benjamin Londergan, Managing Director of Strategic
Business Development! In his role, Ben is responsible for expanding our
partnerships and current core business into new products and geographies,”
commented Simplex.
What’s New in the World of
Prop Trading?
The rising
popularity of trader-funded firms, often referred to as prop trading firms, has
drawn the attention of regulators. An industry source informed Finance Magnates
that the European Securities and Markets Authority (ESMA) recently reviewed
these firms and deliberated on potential regulations. Despite this, the
pan-European regulator did not confirm any plans to regulate prop trading.
Following
Finance Magnates‘ exclusive report on ESMA ‘s discussions, the Czech National
Bank has become the first EU regulator to comment publicly on the industry.
“The
business models used by firms engaged in prop trading (technically funded
trader services) can take various forms, some of which may be subject to the
MiFID regulatory framework,” the Czech National Bank told Finance Magnates
exclusively. In this context, It’s worth mentioning that one of the top prop
trading companies, FTMO, is domiciled in the Czech Republic.
In the
meantime, The prop trading firm Alpha Capital Group has come under fire from
some clients after their accounts were blocked. However, the mass blocking of
access to trading for 150 different users was allegedly due to suspicions of
engaging in “group trading” and “account management
practices,” which violate the platform’s rules.
A financial
and trading industry veteran with over 25 years of experience, Benjamin
Londergan, joined Simplex Trading in June as the Managing Director of Strategic
Business Development.
In his new
role, Londergan will support Simplex in maintaining its position in the
proprietary trading and market-making sectors. Although he spent the last seven
years outside the financial industry, operating as Chief Operating Officer for
CarAdvise, he has previously worked for several well-known trading firms.
These
include Options, TraderTools, Belvedere Trading, Convergex, and CBOE.
Additionally, from 1998 onwards, he served for over 15 years as President of
Group One Trading, which, like Simplex, specializes in prop trading.
“We
are happy to introduce Benjamin Londergan, Managing Director of Strategic
Business Development! In his role, Ben is responsible for expanding our
partnerships and current core business into new products and geographies,”
commented Simplex.
What’s New in the World of
Prop Trading?
The rising
popularity of trader-funded firms, often referred to as prop trading firms, has
drawn the attention of regulators. An industry source informed Finance Magnates
that the European Securities and Markets Authority (ESMA) recently reviewed
these firms and deliberated on potential regulations. Despite this, the
pan-European regulator did not confirm any plans to regulate prop trading.
Following
Finance Magnates‘ exclusive report on ESMA ‘s discussions, the Czech National
Bank has become the first EU regulator to comment publicly on the industry.
“The
business models used by firms engaged in prop trading (technically funded
trader services) can take various forms, some of which may be subject to the
MiFID regulatory framework,” the Czech National Bank told Finance Magnates
exclusively. In this context, It’s worth mentioning that one of the top prop
trading companies, FTMO, is domiciled in the Czech Republic.
In the
meantime, The prop trading firm Alpha Capital Group has come under fire from
some clients after their accounts were blocked. However, the mass blocking of
access to trading for 150 different users was allegedly due to suspicions of
engaging in “group trading” and “account management
practices,” which violate the platform’s rules.
