Broctagon acquires Labuan license to expand FX liquidity across Asia
The firm also appointed Cecilia Chan as its Executive Director and Head of FX. Ms. Chan joins Broctagon from Singapore Exchange, where she was Vice President.
Broctagon Fintech Group has acquired a Labuan Money Broking License, which enables the liquidity provider to now offer regulated bank-grade FX liquidity to its clientele.
The Labuan license will allow the Multi-asset liquidity provider to strategically positioned to support a growing Asian market as it offers clients a tailor-made experience that directly aligns with their individual objectives.
Broctagon is leveraging the fact that it has been part of the Asian FX ecosystem for close to a decade, while most large liquidity providers are based in the West.
The firm appointed Cecilia Chan as its Executive Director and Head of FX. Ms. Chan joins Broctagon from Singapore Exchange, where she was Vice President.
She joined in January 2021 from Hang Seng Indexes Company, where she was Senior Manager of Exchange and Regulatory Relations based in Hong Kong, leveraging her prior experience and network developed at SGX, where she was Director of Membership and International Coverage, also in Hong Kong.
Other past roles in her FX career include Head of Futures at Maybank Kim Eng, Strategic Planning Manager at Phillip Futures, and Dealer at MF Global.
As one of the few female leaders within the FX sphere, her experience is expected to expand the liquidity arm of the business, Broctagon Prime Markets Limited, across the region.
Cecilia Chan, Executive Director of Broctagon Prime Markets, said: “Cultural and physical differences in Asian markets often lead to friction in FX processes. By understanding their needs, we can offer our clients truly bespoke, holistic trading solutions. Our unique understanding of both FX and cryptocurrency also allows us to identify opportunities to support brokers in expanding their businesses into other asset classes.”
Don Guo, CEO of Broctagon Fintech Group, said: “Covid-19 has changed the international trading landscape and we see something stirring in Asian trading. The capital markets in the region are becoming increasingly sophisticated and there is fresh demand for exceptional trading infrastructure to support this evolution, with Labuan playing a growing role as a financial and trading hub.”
Broctagon’s new Money Broking Licence is officially approved by the Labuan International Business and Financial Centre (Labuan IBFC) under its statutory body Labuan Financial Services Authority (Labuan FSA).
First provisionally approved in October 2020, the liquidity provider has since fine-tuned its many offerings to further support its diverse clientele.
Broctagon has recently partnered with Spotware Systems to offer a cTrader white label solution.
