News

Cantor Exchange Hires Lubomir Kaneti

February 9, 2017

Cantor Futures Exchange, one of a few regulated binary options exchanges in the United States, announced on Monday that it was adding a new executive to its team. The company has recruited Lubomir Kaneti, a veteran of the foreign exchange and over-the-counter derivatives industry in several capacities, will join the exchange’s New York-based management team.

The company has been looking to diversify its offerings and sectors, and adding Kaneti is seen as a strong move to back the company’s expansionary ambitions. Kaneti will assist with a variety of projects, and will also be in charge of the company’s marketing and customer acquisition. After working for more than a decade in the field of foreign exchange trading, Kaneti is considered one of the top executives in the industry.

New Blood, New Goals

Cantor Exchange is looking for new blood as it looks to grow and capture a larger portion of the US market for over-the-counter derivatives trading. The company, which is one of only two authorized and regulated binary options exchanges in the United States, recently announced the hiring of Lubomir “Lubo” Kaneti. Kaneti will take up the post of Senior Managing Director, and will be based out of the exchange’s New York office. He will report directly to Cantor Exchange president Richard Jaycobs.

Kaneti is a veteran of the retail forex industry after more than a decade working in various posts at FXDD. At that company, he was first the Vice President of Operations, before being promoted in 2007 to Chief Operating Officer. Kaneti has a strong background in sales and marketing, also taking a central role in FXDD’s forays into China and its outstanding relationships with introducing brokers in the notoriously strict country.

Lubomir Kaneti

During his time operating in the Chinese market and at FXDD, Kaneti developed a reputation as a straight-shooter and a customer-oriented executive that put a high premium on developing lasting relationships and prioritizing excellent service over high client turnover.

At Cantor, Kaneti will be asked to lend his expertise to the exchange’s business development, customer acquisition and retention, as well as broader marketing efforts. His strong experience in financial markets, and especially retail FX, makes him an ideal candidate to continue expanding the Cantor brand at a time when the market for binary options in the US is still largely untapped due to the strict regulatory environment that has prevailed.

Cantor is Diversifying

Kaneti’s hire marks a new phase for Cantor Exchange, which has been in fierce competition with Nadex Exchange for market share in the nation’s binary options industry. The hire is a clear message that Cantor will look to diversify its offerings and is putting a strong emphasis on growing its business. It’s also a major sign of big changes at the company, as they look to strengthen core areas that are crucial for the industry, such as marketing and customer acquisition.

Additionally, it shows a commitment to diversifying their offerings. The company is currently authorized to offer options contracts digitally for currencies and precious metals. Cantor also recently launched a new service, Storm Landing Contracts, alongside AccuWeather. The service offers contracts to investors in order to purchase financial protections in case of a storm hitting land on the United States’ Eastern Seaboard. Furthermore, the company has announced its goal of offering similar weather-related contracts on its exchange in the short-term.

Overall, Cantor is becoming more aggressive in competing for the lion’s share of the binary options and digital options trading market in the US with Nadex, which has been the primary destination for binary options and other derivatives.