Drew Niv is still Director at FXCM UK Merger Limited – official data shows

Maria Nikolova

Either UK authorities are too slow to reflect management changes in their official records, or Drew Niv is indeed still a director at FXCM UK Merger Limited.

Following settlements with US regulators in February this year, Dror (Drew) Niv has attracted even more attention than ever. Mr Niv has abandoned a raft of management roles in the US and the UK since, but FinanceFeeds’ check has shown that he remains on the list of Directors of FXCM UK Merger Limited.

Information about Drew Niv from UK Companies House database for FXCM UK Merger Limited.

FXCM UK Merger Limited has significant control over Lucid Markets Trading Limited. As per the latest report available, FXCM UK Merger Limited’s ownership of shares in Lucid is more than 50% but is less than 75%. The same goes for voting rights.

Given that effective March 10, 2017, Drew Niv and William Ahdout are no longer directors of Lucid Markets Trading Limited, it will not be surprising if Mr Niv abandons the Director role in FXCM UK Merger Limited too. For the time being, however, his name is on the list of directors of the company. This means that either the UK authorities are slow to reflect the management changes that the company has already possibly reported, or Mr Niv is here to stay.

The latter possibility seems quite unlikely, especially after Mr Niv’s status on the UK Financial Services Register turned “inactive” on February 15, 2017, as he left Forex Capital Markets Limited (FXCM UK).

On February 21, 2017, Mr. Dror Niv resigned from his positions as a member and Chairman of the Board of Directors of FXCM Inc. and as the Chief Executive Officer of FXCM Inc., effective upon the appointment of his successor. In the meantime, FXCM Inc has changed its name to Global Brokerage Inc (NASDAQ:GLBR).

In March this year, the US National Futures Association (NFA) implemented a membership bar on Mr Niv and Mr Ahdout and Forex Capital Markets LLC. As of March 9, 2017, Mr Niv and Mr Ahdour abandoned their NFA registration as listed principals of Forex Capital Markets LLC. One day later, the NFA database showed that Forex Capital Markets LLC had a principal permanent bar and an NFA member permanent bar against its name. On March 10, 2017, FXCM had six US registrations withdrawn, including (inter alia) the ones as Forex Dealer Member, Forex Firm, Retail Foreign Exchange Dealer, and Futures Commission Merchant.

According to the latest annual report by Global Brokerage Inc, FXCM UK Merger Limited is amid the significant subsidiaries of Global Brokerage Holdings, LLC (f/k/a FXCM Holdings, LLC).

Read this next

Market News

US Dollar Climbs as Japan Ends 8 Years of Negative Rates

With the passage of eight years, Japan’s Bank of Japan (BOJ) has bid adieu to its experimental negative interest rate policy, marking the end of a daring yet contentious economic manoeuvre aimed at revitalising Japan’s stagnant economy.

Payments

Cryptocurrency in Forex: Revolutionizing Payments and Trading

In recent years, the integration of cryptocurrency payments within the realm of Forex trading has surged dramatically. This transition signifies a profound shift in the financial landscape, offering a wide range of benefits for both brokers and traders alike.

Digital Assets

Bybit Unleashes Zero-Fee Revolution in P2P Crypto Trading

Bybit, the world’s third biggest crypto exchange by volume, has launched a zero-fee policy for its P2P trading, removing all transaction costs for buyers and sellers. This pioneering approach allows global traders to enhance their savings and profits without extra charges.

Fintech

ANZ deploys CobaltFX’s Dynamic Credit platform

“This new approach to credit management has helped eliminate carve-outs as well as reduce credit usage while improving our market access. This capability benefits our customers, counterparties, and the bank.”

Industry News

FINRA fines M1 Finance $850,000 for misleading ‘finfluencer’ activities

“As investors increasingly use social media to inform their financial decisions, FINRA’s rules on communicating with the public are especially critical. FINRA will continue to consider whether firms are using practices and maintaining supervisory systems that are reasonably designed to address the risks related to social media influencer programs.”

Institutional FX

Eurex launches a new first: STOXX Semiconductor 30 Index Futures

“Recent global uncertainties have prompted nations to prioritize the secure production and distribution of semiconductors. Consequently, our STOXX Semiconductor 30 Index Futures are reflecting the growing appetite for semiconductors as a new investment theme. We are seeing a noticeable demand from Asia in particular, as Taiwanese companies are well represented in the index.”

Fintech

Finalto doubles down on APAC region with oneZero curated liquidity from Tokyo

“We are excited to announce the expanded relationship with oneZero not only by using their Institutional Hub as a key component in our technology stack, but now by adding the Equinix TY3 data center to the LD4 and NY3 data centers. This exemplifies our dedication to providing our customers with cutting-edge technology options in accessing our wide liquidity and product offerings via a seamless trading experience.”

Retail FX

From Backtesting to Arbitrage: Practical Applications of AI in the World of Retail Trading

In this article, the industry leaders delve into the transformative role of AI in trading.

Digital Assets

FTX claim value soars to 92%, creditor sued for reneging on $58M deal

Attestor Capital, a London-based investment firm holding significant FTX bankruptcy claims, has initiated legal action against a Panamanian company called Lemma Technologies.

<