Exclusive: Alain Broyon Stepping down as CEO of Dukascopy Bank

Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates has learned that Dukascopy CEO, Alain Broyon, is leaving his post as CEO of Dukascopy Bank due to what is being described as “private and personal reasons." The timing of the change occurs as Broyon and Dukascopy had mentioned to Forex Magnates' representatives in May of the brokerage achieving record volume results during 2013, and continuing to see growth in 2014, even as much of the industry had suffered a decline in activity due to falling volatility.

Explaining the increase in customer activity performance, Dr Andre Duka, Dukascopy Founding Shareholder and Chairman Executive Manager commented to Forex Magnates that the firm's success can be attributed to their JForex technology and Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term which has gained traction as a white label solution at numerous financial institutions around the world.

At the moment there is no recruitment being done to find a replacement for Mr. Broyon. Taking over immediate CEO responsibilities is Veronika Duka, founding shareholder and Executive Manager of Dukascopy. Luis Sanchez, First Vice President of Dukascopy explained, “Since inception of Dukascopy, Mrs. Duka has been playing a key role in the management of the company and key external relations.”

Despite Broyon’s departure, Dukascopy’s strategy and technology is expected to remain the same, with no short or long-term changes planned. According to the firm, Dr. Andrey Duka was and will remain the driver of the company’s strategy and technologies. In addition, Dukascopy expects to continue to innovate and improve its trading, banking, online community and financial media environment.

Speaking about Alain Broyon and what his most influential contribution to the company was during his tenure as CEO, Dukascopy Bank's management stated “Alain Broyon was the company’s spokesman, representing and promoting Dukascopy around the world with enthusiasm and energy.”