TradeStation receives FSA approval for UK subsidiary
TradeStation Group, Inc. (Nasdaq: TRAD) announced today that its United Kingdom subsidiary, TradeStation Europe Limited, has been authorized by the UK's Financial Services Authority (the FSA) to act as a Securities and Futures Firm in the United Kingdom to introduce accounts to TradeStation Securities, the company's US brokerage subsidiary.
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The FSA category of authorization is "ISD Category D Arranger," meaning that TradeStation Europe may now solicit and introduce UK clients who are active, experienced traders to its US affiliate for equities, options, futures and forex account services.
TradeStation Europe is now in the process of putting together what are known as "European Passport" filings for various countries in the European Union (the EU), pursuant to which the company may use its FSA authorization to qualify to conduct similar business throughout the EU. That process is expected to be completed over the next few months.
The individuals authorized by the FSA to perform the controlled functions on behalf of TradeStation Europe are Jeremy Davies, director and chief executive officer, Joseph Nikolson, director (and President of TradeStation Securities), and Marc J. Stone, director (and General Counsel of TradeStation Group and its subsidiaries). TradeStation Europe's address is 1 Hay Hill, Berkeley Square, London, United Kingdom.
TradeStation Europe's operations are still in its early planning stages.