Brokerage executive Nicos Demetriades has joined London-based brokerage group CMC Markets as a director.
Demetriades will be based in Cyprus, where TradeInformer understands CMC Markets is planning on building out a new office.
The company must be in the early stages of doing this, as the firm did not list ownership of any Cypriot entity in its latest annual report. That report shows all CMC’s subsidiaries globally as of the end of March this year.
Demetriades has worked in the online trading industry for more than a decade.
Prior to joining CMC Markets, he was Head of Cyprus for IG Group and oversaw the broker’s ETD market making operations on the island.
IG used its CySEC entity primarily for market making on the Spectrum exchange it used to operate in Germany.
That was closed last year, with the exchange purportedly not delivering the sort of growth that senior management had hoped for.
