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Ed Broking Group Ltd. said Tuesday it has received regulatory approval from the Bermuda Monetary Authority for its new Bermuda operation.
Led by Chris Bonard, the Bermuda operation will provide multiline broking services to clients in the United States, Canada and the Caribbean, backed by the brokerage’s proprietary trading platform, TradEd, Ed said in a statement.
Ed Broking expects to have up to 14 staff in Bermuda in the next two years and the first hires are expected to be announced very shortly, a spokesman said via email.
“Bermuda is an important and exciting global marketplace, but it has been dominated by a few big brokers. Using innovative technology, we intend to become a significant independent player on the island,” Mr. Bonard said in the statement.
Mr. Bonard was part of the executive team that launched Ed into the market in September 2016. BGC Partners Inc. acquired London-based Ed Broking Group Ltd. last year.
BGC Partners Inc. will acquire London-based Ed Broking Group Ltd., the two firms announced Monday.