The Danish Financial Supervisory Authority (FSA) has granted digital prime brokerage GCEX permission to operate as an investment firm.
With this licence, GCEX can provide rolling Spot FX and contract for differences (CFDs) to EU institutional investors.
Michael Aagaard, managing director of GCEX in Denmark, says: “This is a major step forward for our business and we believe it will be a significant catalyst for growth in Europe. Brokers, fund managers, hedge funds and professional traders based in the EU will now have the reassurance of knowing that they are transacting with a credible firm which is regulated in their own jurisdiction.”
Lars Holst, CEO of GCEX, comments: “[The licence] opens the door for us to market to EU clients, presenting us with a major opportunity for further growth.
“From the outset, we have been advocates of operating within strong regulatory environments. Obtaining this FSA licence involved an extremely stringent process in which we had to demonstrate our experience in financial services, the knowledge of our team, good governance and our strong focus on investor protection.”
