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Screenshot of a breaking news alert e-mail from Q2 2017
LeapRate Exclusive… LeapRate has learned that Cyprus financial regulator CySEC has granted a CIF license to a new company called RZT Capital Ltd, with plans to launch as a Retail FX broker.
RZT Capital is owned by Jin Liu, an Australia-based Chinese national who has been a Manager at ASIC regulated Ruizean Group for the past three years. He was also previously a business development manager at AxiTrader.
RZT Capital was granted a CIF license by CySEC in late October, although the license has yet to be activated. The planned website for the company, rztcapital.com, remains unveiled.
Ruizean Group was established by several Australia-based Chinese nationals in 2014, receiving an ASIC license for Ruizean Markets Pty Ltd. The company has become involved in several financial verticals including funds management, forex risk control, international payment solutions, insurance broking and lending solutions, as well as FX trading. The FX trading arm deals with wholesale clients via its Ruizean Trader brand, operating as a China-focused MT4 broker.
Mr. Liu and RZT have already hired a few Cyprus based personnel, mainly in the operations and compliance end of things to get the business off the ground. Initial hires include Petros Hadjipetrou as Head of Brokerage, and Iosif Diamanti as Compliance Officer. Mr. Hadjipetrou was previously Risk Manager at EZTrader. Mr. Diamanti was Assistant Compliance Officer at XTrade Group.
While the company’s strategy has yet to be articulated or formally launched, we believe that, given the principal’s background, RZT will aim to attract business from Chinese based and Chinese speaking customers, one of the major growth areas in Retail FX.