Digital prime brokerage GCEX today announced it has obtained an authorisation from the Danish Financial Supervisory Authority (FSA) to operate as an investment firm.
The FSA license is a significant step for the London-headquartered GCEX. The new authorisation will allow the firm to offer rolling Spot FX and CFDs to institutional clients in the EU.
Michael Aagaard, Managing Director, GCEX, Denmark said:
Michael Aagaard
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 peace of mind and reassurance of knowing that they are transacting with a credible firm which is regulated in their own jurisdiction.
Lars Holst, CEO, GCEX added:
Lars Holst
It is fantastic news that we now have access to the EU market as an investment firm regulated by the Danish FSA. Obtaining this FSA license 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. It now opens the door for us to market to EU clients, presenting us with a major opportunity for further growth.
The digital prime brokerage obtained a Virtual Asset Service Provider (VASP) license and authorisation to provide currency exchange to professional clients from the FSA in June last year.
The rapidly growing firm has recently expanded its team, launched XplorDigital trading solutions, and introduced 24/7 FX trading.
