FDCTech, Inc., a forex and CFDs trading technology provider, announced on Tuesday that it has been granted a public listing status by the Securities and Exchange Commission (SEC). The clearance was granted on August 6, 2018, and follows the US regulator making the company’s S1 registration statement effective.
With the new clearance FDCTech, formerly known as Forex Development Corporation, can now list its securities on national exchanges. The New York-based company filed the S1 registration statement in November last year. Since then, the firm has spent the last ten months working to obtain this status.
The S1 registration statement (SEC Form S-1) is used by companies to register their securities before they go public. It is the initial registration for new securities required by the US watchdog, and it must be filed and granted before a company can list its shares on any national exchange. The form requires firms to provide information on the business model and competition of the company, the planned use of capital proceeds and a prospectus of the security, among other details.
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Commenting on the new listing, the CEO of the technology provider, Mitch Eaglstein, said: “We have been working diligently on our registration statement since November 2017, and we are extremely delighted to announce that the SEC has informed the Company that its S1 registration is now effective.”
“The S1 registration lays the groundwork for transparency, oversight and financing program. We want to thank all our shareholders for their patience during the process and we look forward to what we strongly believe will be a very successful year for FDCTech.”
What are the next steps for FDCTech?
The new clearance will help FDCTech work towards its goal – to become a leader in the fintech industry. Furthermore, the company aims to meet the growing demand of cryptocurrencies and blockchain technologies.
To achieve this, the tech company will continue to expand its services. Currently, the company tailors its technology solutions for forex brokers and other participants in the over-the-counter markets. This will include products on fintech management consulting, trading platforms, back office solutions, risk management systems, and other technology solutions.