AMP_Futures
ET Sponsor
Hello. The specific motivation is to have a local presence in Europe. Following our existing business from AMP Global Clearing (USA), we saw a definite demand for a local office in Europe due to the time differences, diverse languages through out Europe and the ability to trade Exchange-Traded Futures, Forex and CFDs - All in One Account. See Example Videos - https://www.ampglobal.com/education/how_to_videos.html
Why Cyprus? We originally filed our application with FCA (UK) and during the final stage of approval Brexit happened. Our business expansion plans were to open an office to be able to quickly and easily support all our EU customers, with the Brexit uncertainty we decided to change our Europe Office registration to Cyprus.
With all of the big firms already operating in Cyprus, we were able to hire really solid, experienced operations staff that are looking to expand their skills into the Exchange-Traded Futures industry.
One feature we really like about the AMP Global (EU) registration in Cyprus is the Investor Compensation Fund. In addition to all Client Funds Segregated (like in the USA), there is insurance per client up to 20'000 EUR. https://www.ampglobal.com/about/legal/safety_funds.html
Back to the original question...what is the difference between Cyprus, UK and USA? From our experience, probably due to us bringing the Exchange-Traded Futures and our business operations from Chicago to Europe...we are having all the same type of conversations between all of our contacts in Cyprus, UK and USA. It is all one big Financial world.
Why Cyprus? We originally filed our application with FCA (UK) and during the final stage of approval Brexit happened. Our business expansion plans were to open an office to be able to quickly and easily support all our EU customers, with the Brexit uncertainty we decided to change our Europe Office registration to Cyprus.
With all of the big firms already operating in Cyprus, we were able to hire really solid, experienced operations staff that are looking to expand their skills into the Exchange-Traded Futures industry.
One feature we really like about the AMP Global (EU) registration in Cyprus is the Investor Compensation Fund. In addition to all Client Funds Segregated (like in the USA), there is insurance per client up to 20'000 EUR. https://www.ampglobal.com/about/legal/safety_funds.html
Back to the original question...what is the difference between Cyprus, UK and USA? From our experience, probably due to us bringing the Exchange-Traded Futures and our business operations from Chicago to Europe...we are having all the same type of conversations between all of our contacts in Cyprus, UK and USA. It is all one big Financial world.