City Credit Capital (UK) Limited — CIX Markets, Markets Trader
City Credit Capital (UK) Limited (FRN 232015) was an FCA-regulated Contracts for Difference broker that operated under the trading names CIX Markets and Markets Trader. The firm provided retail and professional clients with access to FX and CFD trading. It was incorporated in December 2001 and was led by CEO Raymond Yip under the broader control of US entrepreneur Alfred Tang.
In June 2023, the FCA placed restrictions on City Credit Capital, preventing it from carrying on any regulated activities. The firm entered administration on 30 June 2023, with Gary Paul Shankland and Jamie Taylor of Begbies Traynor (Central) LLP and Christopher Andersen of AABRS Limited appointed as joint administrators.
A significant concern that emerged during the administration was that approximately £10 million of professional client funds could not be accounted for. The firm’s largest trading counterparty, Malaysia-based CCC Labun Limited, owed CCC UK around £7.7 million and had itself moved to enter liquidation, leaving those funds in serious jeopardy. Clients who held money with CIX Markets or City Credit Capital may be eligible for FSCS compensation.
Issues / Why You May Have a Claim
CFD brokers are required to hold client money separately from their own funds and to ensure that trading counterparty arrangements do not place client assets at risk. Where those requirements are not met, clients can lose access to their money when a firm fails. Former City Credit Capital and CIX Markets clients who have concerns about funds they cannot access should seek specialist advice.
Company background (public record)
The company was incorporated at Companies House on 19 December 2001 under company number 04343251. Its status at Companies House is recorded as liquidation.
Registered office: Langley House Park Road, East Finchley, London, N2 8EY.
Previously named: SMART LINK FINANCIAL SERVICES (UK) LIMITED.
Nature of business (SIC): 64999.
Company timeline (public record)
Key dated events for this firm, drawn from public records. Each entry shows its source.
| Date | Event | Source |
|---|---|---|
| 19 Dec 2001 | Company incorporated | Companies House |
| 19 Dec 2001 | Tak Shing Lorenz Lee appointed director | Companies House |
| 19 Dec 2001 | Paul Mccarten appointed secretary | Companies House |
| 19 Dec 2001 | Cetc (nominees) Limited appointed corporate-secretary | Companies House |
| 19 Dec 2001 | Cetc (nominees) Limited resigned as corporate-secretary | Companies House |
| 19 Dec 2001 | Ronald Gim Beng Auw appointed director | Companies House |
| 19 Dec 2001 | Budiman Effendi appointed director | Companies House |
| 19 Dec 2001 | Paul Mccarten appointed director | Companies House |
| 19 Dec 2001 | Alfred Tang appointed director | Companies House |
| 19 Dec 2001 | City Executor And Trustee Company Limited appointed corporate-director | Companies House |
| 10 Nov 2004 | FCA status recorded as: Authorised | FCA Register |
| 04 Mar 2016 | Dong Shi approved by the FCA at the firm | FCA Register |
| 18 Apr 2016 | Simon John Daniels approved by the FCA at the firm | FCA Register |
| 17 Jul 2017 | Simon John Daniels appointed director | Companies House |
| 30 Sep 2019 | Raymond Yip appointed director | Companies House |
| 09 Dec 2019 | Chiu Hung Leung approved by the FCA at the firm | FCA Register |
| 09 Dec 2019 | Alwyn Marc Phillips approved by the FCA at the firm | FCA Register |
| 09 Dec 2019 | Qianjin Gao approved by the FCA at the firm | FCA Register |
| 09 Dec 2019 | Hayden Nagra approved by the FCA at the firm | FCA Register |
| 09 Dec 2019 | Rodolpho Willian Ribeiro de Brito approved by the FCA at the firm | FCA Register |
| 31 Jan 2020 | Alfred Tang resigned as director | Companies House |
| 30 Jun 2023 | Company entered administration (in administration) | Companies House |
| 02 Jul 2024 | Company administration ended (in administration) | Companies House |
| 02 Jul 2024 | Company wound up (creditors’ voluntary liquidation) | Companies House |
| 02 Jul 2024 | Insolvency practitioner appointed: Jamie Taylor | Companies House |
| 02 Jul 2024 | Insolvency practitioner appointed: Christopher Andersen | Companies House |
| 02 Jul 2024 | Insolvency practitioner appointed: Gary Paul Shankland | Companies House |
| 29 Apr 2026 | Declared in default by the FSCS | FSCS |
Focused on the firm’s early history and the events leading up to and following its failure. 39 routine entries from its active years are omitted.
Who was involved?
The following individuals are listed on public records in connection with the firm. These are matters of public record only and their inclusion does not imply any wrongdoing by any named person.
- Raymond Yip. Listed on the FCA Register as having held SMF3 Executive Director (from 09/12/2019), SMF1 Chief Executive (from 31/03/2020), CF1 Director (30/09/2019 to 08/12/2019) at the firm.
- Lorenz Tak Shing Lee. Listed on the FCA Register as having held SMF17 Money Laundering Reporting Officer (MLRO) (from 09/12/2019), SMF16 Compliance Oversight (from 09/12/2019), SMF3 Executive Director (from 09/12/2019), [FCA CF] Client dealing (from 09/12/2019) at the firm.
- Simon John Daniels. Listed on the FCA Register as having held SMF3 Executive Director (from 09/12/2019), [FCA CF] Client dealing (from 09/12/2019), CF30 Customer (18/04/2016 to 08/12/2019), CF1 Director (02/08/2017 to 08/12/2019) at the firm.
- Chiu Hung Leung. Listed on the FCA Register as having held [FCA CF] Significant management (from 09/12/2019), [FCA CF] CASS oversight function (from 09/12/2019) at the firm.
- Alwyn Marc Phillips. Listed on the FCA Register as having held [FCA CF] Significant management (from 09/12/2019) at the firm.
- Chenyi Zhu. Listed on the FCA Register as having held [FCA CF] Client dealing (from 09/12/2019), CF30 Customer (21/07/2014 to 08/12/2019) at the firm.
- Dong Shi. Listed on the FCA Register as having held [FCA CF] Client dealing (from 09/12/2019), CF30 Customer (04/03/2016 to 08/12/2019) at the firm.
- Geng Liu. Listed on the FCA Register as having held [FCA CF] Client dealing (from 09/12/2019), CF30 Customer (24/06/2010 to 08/12/2019) at the firm.
- Jing Wang. Listed on the FCA Register as having held [FCA CF] Client dealing (from 09/12/2019), CF30 Customer (07/07/2010 to 04/03/2016) at the firm.
- Qianjin Gao. Listed on the FCA Register as having held [FCA CF] Significant management (from 09/12/2019) at the firm.
Appointed Representatives and Agents
While it was authorised, the firm acted as principal for the following appointed representatives. An appointed representative carries on regulated business under the responsibility of its principal, so their conduct can be relevant to a claim.
| Appointed representative | Reference | Effective from | Ended |
|---|---|---|---|
| Alessandro Mercatali | FRN 595957 | 18/02/2013 | 04/03/2015 |
Review page sources: FCA Register (FRN 232015) · Companies House (04343251) · FSCS. Public records, provided for transparency.
