Seasoned Professional Benjamin Londergan Joins Simplex Trading as Managing Director
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Benjamin Londergan, a financial trading sector expert with over 25 years of experience, has been appointed as the managing director of Simplex Trading. He will be operating in the Strategic Business Development section.
Londergan will support Simplex in keeping its place in the Proprietary trading and market-making fields. Despite being out of the finance sector for the past seven years, serving as Chief Operating Officer at CarAdvise, he has a background with several renowned trading firms. Some of these firms include CBOE, Convergex, Belvedere Trading, and TraderTools.
Simplex Trading Expressed Their Satisfaction With Londergan’s Appointment
Londergan was President of Group One Trading for over 15 years, a firm similar to Simplex, which specializes in proprietary trading. The company expressed its joy about the coming of Benjamin Londergan as the Managing Director of Strategic Business Development.
Simplex mentioned that Ben’s role involves expanding their partnerships and current business activities into new products and locations. The significant increase in trader-funded organizations, popularly known as prop trading organizations, has significantly caught the attention of regulators.
Information from the industrial source was sent to the Finance Magnates, which said that the firm had recently been deliberated on and reviewed by the European Securities and Market Authority. Despite all that has been said, the pan-European regulators have refused to confirm any plans or strategies to regulate prop trading.
The Czech National Bank Has Become The First EU Regulator
The Czech National Bank has emerged as the first EU regulator to speak publicly about the industry. Companies involved in proprietary trading (where traders use provided funds) structure their business differently.
According to an exclusive statement to Finance Magnates from the Czech National Bank, some of these structures may fall under the regulatory guidelines of MiFID.
It’s important to know that one of the highest prop trading organizations, FTMO, is based in the Czech Republic. Meanwhile, the prop trading company known as the Alpha Capital Group has faced high opposition and has been strongly criticized by specific clients whose accounts had been blocked.
Notwithstanding, the general blocking of accounts and access to trading for over 150 customers resulted from an alleged suspicion of some trading group engaged in “account management practices” and “group trading, “which is against the regulation of the platform.
Simplex Trading is a proprietary trading company with a head office in Chicago, Illinois, USA. It is famous for being involved in trading options and creating markets. The firm was founded in 2007 by David Don.
