Benjamin Londergan is a seasoned professional in the finance and trading industry with over 25 years of experience. He joined Simplex Trading in June this year as the Executive Director of Strategic Business Development.

Simplex Trading Appoints New Director

In his new role, Londergan will assist Simplex in maintaining its position in prop trading and market making. For the past seven years, he had not been involved in the financial industry, serving instead as the Chief Operating Officer of CarAdvise. However, he has previously worked with several renowned trading companies including Options, TraderTools, Belvedere Trading, Convergex, and CBOE.

Since 1998, he served as President of Group One Trading, a prop trading firm, for a duration of 15 years.

New Trends in Prop Trading?

Prop trading firms are gaining popularity, drawing regulatory attention. Industry insiders note that the European Securities and Markets Authority (ESMA) recently reviewed these firms and considered potential regulatory measures. However, ESMA has not confirmed any plans to regulate prop trading.

The Czech National Bank stated, "Prop trading firms (technically supported trading firm services) operate in various forms, some of which may fall under the MiFID regulatory framework. One of the leading prop trading firms, FTMO, is based in the Czech Republic."

Meanwhile, Alpha Capital Group, a prop trading firm, faced criticism for freezing accounts of several clients. Approximately 150 different users had their trading privileges suspended on allegations of involvement in "group trading" and "account management activities," which reportedly violated platform rules.