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The 2008 global financial crisis, often called the Great Financial Crisis (GFC), marked the most severe economic downturn since the 1929 Great Depression. It was characterized by global stock market declines and the failure of major financial organizations that necessitated government bailouts.
Originating in the United States due to the bursting housing market bubble and the use of complex financial instruments, the crisis led to a global recession. The enduring impact of the aftermath on the global economy is significant, as it has influenced financial regulations and policies and shaped economic discussions for years.
Following the 2008 global financial crisis, Scandinavian Markets debuted on the financial scene in 2011. Under the leadership of Swedish-based entrepreneurs David Nudelman and Arif Alexander Ahmad, the firm upholds core values such as transparency, security, and fairness in navigating and preventing future crises and bringing Scandinavian values to the currency trading world.
Bringing integrity to currency trading
The currency market has a damaged image in the background of scandals related to FX trading, particularly those involving brokers with offshore and Cyprus-based offices. For instance, in 2021, the forex industry in Cyprus was shaken by a €15 million trading fraud, leading to the closure of two Limassol-based firms and leaving over 2,000 people unemployed.
Sweden has experienced the impact of the worldwide financial upheaval, with notable decline of over 40 percent from the commencement of 2008 to early December of its stock market. Given the substantial influence of the financial crises on Swedish investors with substantial holdings in the stock market, Scandinavian Markets envisioned diversifying their investment portfolios to include the currency market as an alternative channel.
Therefore, the platform consciously changed into an execution venue after functioning only as an asset management firm for a good five years. “We aspire to become the equivalent of “IKEA” in the FX realm, where clients can trust us implicitly for reliability, security, and transparency,” Ahmad explains.
As of 2022, the firm had established itself as a trustworthy and knowledgeable currency trading broker by skillfully shifting its primary emphasis to the execution business model. This change demonstrated the company’s dedication to flexibility and responsiveness to the market’s demands.
Innovating the financial sector
Scandinavian Markets’ objective is centered on its exclusive partnership with premier banks and its deliberate provision of liquidity access to institutional and High Net Worth Individual (HNWI) customers. This strategic decision positions the company as a reliable partner in the financial sector, ensuring the highest standards of financial services.
Alongside these banking partnerships, Scandinavian Markets continues to be a leader in technology and liquidity. The company stands out for its innovative strategy, which uses state-of-the-art technology to improve trade conditions and simplify procedures.
In the words of CEO Ahmad, “Our focus remains on delivering tailored service to our clients, ensuring prompt responses and swift executions by our team. This personalized approach isn’t confined solely to service but also extends to product customization. This has established our position as the broker with unparalleled expertise in tailoring liquidity solutions for substantial accounts. Essentially, we possess the capability to craft diverse liquidity feeds, catering to the unique needs of clients seeking a customized trading environment.”
Thus, by being on the cutting edge of technology, the company not only adjusts to the changing environment but also anticipates the needs of its customers. The result is a clean and dynamic trading environment that meets the specific requirements of money managers, institutions, and professional traders, solidifying Scandinavian Markets’ position as a leader in the financial services industry.
Moving forward
Scandinavian Markets has been focusing on creating customized liquidity feeds for important institutional customers since 2021. The firm has a noteworthy history of establishing alliances with hundreds of banks and prime brokers to accomplish this outstanding accomplishment.
Reflecting on a recent conversation, Ahmad remembers a banking industry colleague saying that “Your network of connections now surpasses that of the largest bank or broker in the world.” This recognition underscores the company’s substantial achievements in expanding its network and influence within the financial industry.
Recently recognized for its network achievements, Scandinavian Markets remains dedicated to delivering outstanding services while adhering to its core values of transparency, security, and fairness. This commitment reflects the company’s ongoing dedication to providing exceptional financial services tailored to the unique needs of its clients.
