Dublin, 20th July, 2020 — Assure Hedge Ltd (AH) is pleased to announce that it has agreed terms with Carrig Glen Investments Ltd (CGI), whereby CGI will provide up to a £9m margin finance facility for clients of Assure Hedge at a utilisation cost of 10% per annum. Under the terms of the arrangements, CGI will be entitled to subscribe for up to 1,500 shares in AH at a price of €1,017 per share, which represents approximately 5% of the issued share capital of Assure Hedge. The margin finance facility is to fund initial margin deposits, which AH is required to place with its liquidity providers for foreign exchange forward transactions.
Assure Hedge’s mission is to transform the way that businesses access hedging products through technology and create a world-class regulated financial technology business, powering the currency hedging service of financial intermediaries, including brokers, money-service businesses and aggregators across the globe. AH’s model is to digitally embed its platform into channel resellers such as FX brokers and banks to enable them to make available a full range of FX hedging products without the necessity of having to invest in technology or front and back office overhead. Assure Hedge is MiFID regulated and, thus, offers a bespoke “Hedging as a Service” (HaaS) solution.
Following two successful fundraising rounds over the past year under, which Assure Hedge has raised over €4m equity, AH has recently launched its EZFX Broker product and is now partnering with some major industry players.
EZFX Broker is part of the Assure Hedge platform and is powered by some of the seven API’s that currently sits on the platform. EZFX Broker enables non-specialist dealers within FX brokerage firms to send a term sheet to their client within minutes setting out the Assure Hedge options-based hedging solutions best suited for the client’s particular FX exposure in an easy to understand format. Any FX broker, regardless of size, regulatory status or currency options expertise in their dealing team can use the fully cloud based EZFX Broker to provide solutions for their clients.
Founded by Barry McCarthy in 2016, Assure Hedge has offices in Dublin, London, and Portugal. Its wholly owned subsidiary, Assure Hedge UK Limited, is a 125k MiFID and PSD firm regulated by the Financial Conduct Authority in the UK. It has passported to all EEA countries.
Barry McCarthy | Founder and CEO, Assure Hedge Ltd.
Richard Hayes | Chairman, Assure Hedge Ltd.
About Assure Hedge
Assure Hedge is an award-winning and regulated financial technology company that aims to empower businesses of all sizes to access currency hedging to reduce the risk of doing business across borders. Designed and developed for banks, FX brokers and platform entities, our API solutions are easily integrated into existing product suites to provide automated digital FX hedging solutions.
Assure Hedge UK has acquired both the MiFID and PSD Licence from the UK’s regulator, the FCA. MiFID firms are authorised to provide services to clients linked to financial instruments such as, shares, bonds and FX. Our PSD Licence enables Assure Hedge UK to provide payment services, including, payment accounts, payment processing and money transfer services.
Assure Hedge Directors
Robert Smith — Non-executive Director
Robert was the CTO of GETCO and managed a team of 70 technologists, building a multi-asset, globally distributed trading platform, enabling GETCO to become, at one point, the highest volume trading firm in the world. He was the former Head of Europe for Knight Capital Group.
Richard Hayes — Chairman
Formerly Chairman and now a non-executive director of Global Shares PLC and currently chairman of The Prusik Asia Funds and a director of Findlay Park Funds PLC, Richard was formerly chairman of EFT Group Ltd, which was acquired by Koch Industries and the chairman of BHSL Ltd. He was the founder and CEO for seventeen years of IFG Group PLC until 2006.
Ben Robinson — Non-executive Director
Ben is co-founder of Aperture, a strategy and marketing consultancy helping banks and fintech companies launch and scale digital era business models. Before that, Ben worked at Temenos, the market-leading banking software company, where he was Chief Marketing Officer and Chief Strategy Officer. Ben joined the Assure Hedge Board of Directors in Q3 2019.
Paul Cran — Company Secretary and CFO
Paul is a Chartered Accountant and was a director of a merchant bank in Dublin before taking up the role in 1993 as CFO and Deputy Chief Executive of the Maxol Group. He also served on the board of the Irish Management Institute. Since his retirement from the Maxol Group, he has acted as a corporate advisor to a small group of clients before joining Assure Hedge in May 2018 as our CFO.
Key Members of the Assure Hedge Team
Rafael Maia — Chief Technology Officer
Rafael, who holds a master’s degree in Computer Science, brings in over a decade of technical experience of leading teams across Europe. He delivered numerous projects for multiple Vodafone operating companies while working as the Project Manager and Solutions Architect. Rafael has also authored several technical papers and delivered bespoke IT solutions to telecoms by leading teams of UI/UX designers and software engineers. Rafael delivered EZFX Broker and is now working on X Hedge for Assure Hedge.
Graham Carrick — Chief Operations Officer
Graham was the co-founder of the UK’s leading pools betting platform, RunLastMan, with betting regulation in Ireland and the UK. Graham is a former Senior Analyst in Accenture with a master’s degree in management from Smurfit Business School. Graham is leading the company’s project management function.
Iain Duncan — Head of Trading
Iain joined Assure Hedge after 10 years as a financial markets trader and is the Head of Trading. Iain has extensive experience across all asset classes, risk management and trading operations. Iain was also a co-founder of Dublin proprietary trading firm Myriad Trading.
Arsalan Haque — Head of Trading Product and Strategy
Arsalan is a veteran of financial markets, bringing with him two decades of front-line FX derivative experience. He held executive director positions as Head of FX Options Trading for EMEA and Asia at leading banks including UBS and ING in Singapore and Zurich. His global know-how covers emerging and developed economies, with extensive exposure to regional FX markets globally.
High Risk Investment Notice
Trading in leveraged financial instruments such as Options or other financial derivatives, carries a high level of risk and may not be suitable for all investors. Investors who make use of these financial products run the risk of substantial capital losses which may exceed your initial deposit. Assure Hedge (UK) Limited makes no claim or warranty regarding either the appropriateness or suitability of these instruments for your purposes whether commercial or otherwise. Assure Hedge (UK) Limited may provide general commentary or educational material available on its website or otherwise, which is not intended as investment advice. You should carefully consider your financial situation and needs and seek independent advice from a duly authorised financial adviser. Assure Hedge (UK) Limited assumes no liability for errors, inaccuracies or omissions; does not warrant the accuracy, completeness of information, text, graphics, links or other items contained within these materials. You should read and understand Assure Hedge (UK) Limited’s Terms and Conditions prior to taking any further action.