TechFinancials gives up CySEC license, closes OptionFair as Binary Options focus switches to China
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TECHa software developer that supplies simplified trading solutions to online brokers, is pleased to announce that it has successfully established its position as preferred software provider for liquidity providers operating in the US binary options market. This follows a very successful first day of trading through Cantor Exchange, a US regulated retail-focused binary options exchange owned by Cantor Fitzgerald, through which TechFinancials is collaborating as an independent software vendor.
Following a six-month initial integration period, TechFinancials went live with the Exchange on 23 March Additionally the increase in regulation through operations such as Cantor Exchange will help increase barriers to entry for new competitors looking to establish themselves in this market as well as current competitors who currently only produce simple products for unregulated markets.
Richard Jaycobs, President of Cantor Exchange, said: This will ensure that Cantor Exchange traders experience superb functionality, whether connecting directly to us or using technology provided by our ISV partners. We are particularly pleased to have entered such a high growth market such as the US and we look to further extend our footprint in this important growth region.
TechFinancials was formed in to create a simplified trading solution for online brokers wanting to provide a platform for retail customers to trade in Binary Options. The Group launched a beta version of its platform with two online brokers: The Group subsequently launched a live version of the platform in January In earlyTechFinancials began to focus on the Asian market, securing distribution in Japan and China.
Binary Options are well-suited to retail customers because no in-depth knowledge of the financial markets is required in order to trade. The simplified Binary Options market, first introduced inhas experienced significant growth not only in the number of online brokers operating in the market but also in terms of trading volumes. That growth is set to continue as the online trading market becomes better established on the back of increased regulation.
This will result in larger and better established financial organisations entering into the Binary Options market. Execution and settlement fees are not charged on price taking orders or out-of-the money settlements. Unlike margin trading, binary option traders cannot lose more than the initial cost of the trade should the market move against them. Due to their simplicity and known upfront risk, binary options are attractive to new as well as professional traders.
Binary options are a popular investment tool worldwide that have had a limited presence in the United States until now. The Cantor Exchange is proudly introducing these globally accepted products to U. For further information, please visit www. Cantor Exchange is a subsidiary of Cantor Fitzgerald, a leading global financial services firm.