LeapRate Exclusive… Two names which should be very familiar to those who have followed CMC Markets through the years – as well as the London trading scene in general – have reappeared after something of a long absence.
Roger Hynes, who ran CMC Markets as Managing Director for nearly a decade until 2008, and his business partner Marc Aspinall who was in charge of CMC’s partners distribution business until 2011, are back in the online trading game. (Aspinall was more recently Global Head of Sales for ADS Securities, leaving that role in mid 2014).
Hynes and Aspinall and their newly formed advisory firm Black Lake Financial are going to join forces with a Hamburg-based trading technology startup called The Naga Group. Naga has developed what it calls a disruptive social trading app called SwipeStox (see video below), which is already available from both the Apple App Store and from GooglePlay.
Hynes and Aspinall’s role will be to drive the commercial side of the business, and ensure a smooth rollout of SwipeStox with brokerages.
Hynes had the following to say to LeapRate:
SwipeStox is the most significant development we have seen in the area of social trading. The swiping action on the Mobile is totally captivating and combining this with a large pool of well incentivised trade leaders makes it a must-have for any brokerage to attract and reactivate clients.
SwipeStox is apparently the first in a series of solutions focusing on mobile trading planned by The Naga Group. As we recently reported, mobile trading has been gaining steam lately in the online world.
The Naga Group is headed by former Varengold Bank founder and CEO Yasin Qureshi.