Price Markets UK Ltd, a provider of foreign exchange (forex) prime brokerage and infrastructure services, announced this Friday through a regulatory filing that Christoph Flefel’s appointment as a Director has been terminated.
According to the filing through UK Companies House, Flefel was terminated from his position on the 18th of March this year. According to his LinkedIn profile, he held the position of Director, Head of Legal and Compliance at Price Markets UK.
Price Markets is Winding Down its Retail Operations
Finance Magnates reached out to Price Markets to confirm the termination. In response, Alexander Talei, the founder and Chief Executive Officer (CEO) of the company, confirmed that Flefel is no longer with the firm.
Speaking on Flefel’s termination to Finance Magnates, Talei said: “This comes as a result of company reorganisation as we are winding down our Retail division to maintain focus on our Liquidity Provision and Technology Solutions.
“In the meantime, I am taking on the role of Mr Flefel during the restructuring phase. I am grateful for Mr Flefel’s work over the last few years and wish him all the best in his future endeavours.”
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At Price Markets, Flefel headed the Compliance, Anti-Money Laundering, Client Assets and Internal Controls oversight functions, according to his LinkedIn profile. He originally joined the company in July of 2015.
Before working at the FCA-regulated company, Flefel was employed at Noor Capital Markets & Amwal International Investment Company. Here, from 2010 until 2015 he was the Head of Compliance, based in Kuwait.
Through its prime brokerage, Price Markets provides clearing, execution, hardware, software and networking infrastructure to a variety of Price Takers and Price Makers.
Price Markets Achieves Profit in 2017 for First Time
As Finance Magnates reported towards the end of last year, during the firm’s 2017 financial year, the UK-based company managed to make £367,860 in gross profit, the first time the company has managed to achieve this.
In the same year, Price Markets UK recorded a turnover of £603,780. From this, the cost of sales was £235,920. In addition, the firm’s UK institutional trading volume exceeded $1 billion in 2017.