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The capital of Italy has always been a hotbed for foreign exchange traders, but now that capital has a new tenant.
The first foreign exchange market to open in the country was founded by a small Italian entrepreneur named Luca Cattani.
Cattani was an Italian expat who moved to Rome when he was 19 and was soon joined by a handful of others.
Over the next 20 years, the market quickly grew and became one of the most important exchanges in Italy.
Today, Cattini’s company, Cretan, is the largest foreign exchange broker in the world.
Cretan’s trading days are long, and its clients include major banks and big international corporations.
But now that its international clients are looking to invest in Italy, Cottini says his company has to diversify and adapt to their needs.
“When we have a market that is becoming a bit saturated, we have to take on new clients,” Cattinis says.
In an effort to keep up with the ever-changing needs of investors, Cotta says the company is planning to add two new markets in 2018: Spain and the Middle East.
“In Spain, we will start in 2019,” he says.
“We will also be expanding to Turkey and Qatar.
In the Middle Eastern market, we are focusing on investment banking and investment advisory services, but in 2018 we will focus more on the investment banking market.”
The growth of foreign exchange markets in Italy has been on a steady decline since the country entered the euro in 1999, but the country’s economy is now recovering and Cattino says the market will likely return to pre-crisis levels in the future.
“It is important to know that the market is recovering and it is still growing,” Cotta adds.
“It is not just the foreign exchange, but also other trading services that are booming.
The markets are expanding, and they are growing fast.”