According to exclusive information obtained by Forex Magnates’ reporters, binary options technology provider TechFinancials is one step closer to becoming the first binary options firm listed on the London Stock Exchange’s Alternative Investments Market (AIM).
The company has already filed a 10-day notice at the British venue, notifying it the firm is ready to go public within the set number of days. This does not suggest that the floating has begun, but it seems imminent.
Techfinancials has declined to comment.
New Cashback Program in FBS TraderGo to article >>
The Israel-based company delivers its binary options solution to an estimated 40 to 50 brands, most notably 24Option.com. The company is also known to be operating a trading brand, OptionFair, using its CySEC license.
According to information made available to Forex Magnates, total deposits of all the TechFinancials brands are worth as much as $25 million. Based on a revenue sharing model, the number of white labels using the company’s solution suggests that TechFinancials’ revenues for 2014 were somewhere between $10 and $20 million.
Binary options is one of the fastest growing segments of the online trading industry and several major players have indicated their eagerness to become public companies, a move that brings a strong boost to the brand’s image as well as opportunities for founders to cash in on their success. In November 2014 the binary options trading brand AnyOption, valued at £150 million, announced its intention to list on the same venue in February 2015.