Exclusive FNG… FNG has learned that the leading retail FX and CFDS Broker Hantec Markets has hired Michael Nichols, as the new CEO of Hantec Prime B2B’s services.
Michael Nichols, who is based in Cyprus, spent the last four years with the racing / racing team-prime team, serving as head of the race for the race and the technological broker, as well as the head of the race. He had also worked on Topfx, Panda Trading Systems and 24option.
FNG had the opportunity to talk to Michael about his transition to Hantec and his plans for Hantec Prime. Here’s what he had to say, exclusively to FNG.
Fng: Hi Michael, and thank you for participating today. Let us know a little more about your decision to participate in the Hantec group as the new Hantec Prime Managing Director.
Michael: Hello, thank you for spending time for this interview.
My decision to join Hantec Prime as the new CEO was an easy decision. Over a few talks with the leadership team, I noticed that it is a group of people who have the knowledge and experience to make use of their existing success in something revolutionary.
Hantec Markets is one of the few brokers out there who have tried time, with over 30 years of experience who have learned how to continue to adapt and grow into one of the most difficult industries in the world. Hantec Prime is no different, it aims to create growth supported by multiple offices worldwide, showing exciting ambition – it was the right time to join.
Fng: How did the Hantec decide to extend its traditional retail businesses to liquidity solutions and prime brokerage?
Michael: Interestingly, Hantec Markets have had a B2B department for some years now with some established customers. Of course, having the experience in retailing for over 30 years and connecting to Class 1 providers, they meant exactly what brokers should achieve and how to work with them, so the decision to promote expansion to Prime Brokerage solutions was a reasonable next step.
Fng: What are your main target markets in Hantec Prime? What kind of customers do you want to work with? (And where?)
Michael: In Hantec Prime we want to expand into multiple territories, which we work closely with small to medium -sized companies that require customized and specialized services. We are very lucky to support our world teams throughout Latam, Europe, the Middle East and Asia that allow us to have extensive range and provide local support.
Finally, we aim to start with the customers focusing on these areas, as we have local representatives to provide this level of service to face to face, as we aim to have with all our customers.
Fng: The liquidity/PB area, especially those that serve the brokers FX and CFDs, seems to be somewhat full, with many well -intentioned, established establishments. How do you look to differentiate Hantec Prime as a preferred partner for brokers and others in the business?
Michael: One of the main ways we aim to differentiate Hantec Prime in a large competitive market is first to be able to serve them at any of our world offices, focusing on providing excellent support that we can offer to our brokers because of our large team.
The goal for us is not to be a typical LP, but the one that focuses on brokers with flexible conditions and knowledge. Our extensive risk team is there to help brokers understand where there is otherwise known as abusive flow, how to mitigate this risk and when it is important to remember your balance sheet and NOP and not risk your business.
Fng: What changes do you see on the horizon for the electronic commercial industry? How does Hantec’s primary design evolve as industry evolves?
Michael: In recent months, I have been seeing several changes in the electronic trade industry.
We see increased volatility in specific media representing 80% or more in periods of a broker’s book. This can add high profit and high risk for a broker. Brokers have begun to pass their NOPs by taking greater risk and then necessary, and I believe that the risk administrators will soon be looking for LPS to maintain and offset their risk.
Hantec Prime plans to be placed as a liquidity provider who has the knowledge to survive for over 30 years of changes in the market and we plan to become a provider that helps our customers grow and help them prepare for the risk of buying their primary LP.
Fng: What else can we expect to hear from Hantec and Hantec Prime in the coming months?
Michael: I can’t reveal everything now, but there are big things that come from Hantec’s markets and Hantec Prime, as we plan to expand our business lines technologically and further expand and get to the market.