31 March 2023
Amsterdam, the Netherlands - Flow Traders Ltd. (Euronext: FLOW) announces that Flow Traders London Ltd, its UK subsidiary, has received authorization from the Financial Conduct Authority (FCA). This authorization completes the process of converting Flow Traders' branch status in the UK to a regulated subsidiary.
As part of the firm's growth strategy, the authorization enables Flow Traders to increase its exposure to the broader UK financial ecosystem. More specifically, Flow Traders' UK subsidiary enables the firm to maintain its physical footprint in the UK as well as how it interacts with UK-based financial institutions. In addition, it will enable Flow Traders to strengthen and expand its position in the UK market by growing its network of financial institutions.
Flow Traders B.V. established its London branch office in October 2018. Following the expiration of the temporary permissions regime, Flow Traders London Ltd was incorporated, applied for and obtained independent FCA authorization. The temporary permissions regime allowed for continuing operation in the UK during the Brexit transition period within the scope of Flow Traders' passport permissions.
Mike Kuehnel, CEO, commented:
"Core to Flow Traders' strategy is scaling our presence globally across all major financial hubs. We are therefore delighted to have obtained our FCA authorization and successfully completed the process of incorporating our UK subsidiary in line with post-Brexit requirements. This is an important milestone as we systematically grow our presence in the UK, as well as deepen our relationships with existing and new UK based financial institutions. It also allows us to maintain and foster our unique talent base in the UK market."