FXPRIMUS Continues to Expand Global Reach with New Cyprus License for European Arm
- Before this the broker was already licensed by the authorities of Mauritius and New Zealand, as common with firms focusing on the Asian market, but now it can also service European clients via MiFID passporting.
FXPRIMUS, the Mauritius-based FX/CFD broker, announced today that its European entity, FX Primus Europe (CY) Ltd. has been granted a CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term Investment Firm (CIF) License from the Cyprus Securities & Exchange Commission.
FXPRIMUS is now able to provide assurance to its customers that they are trading with an EU regulated broker that complies with MiFID directives. Before this the broker was already licensed by the authorities of Mauritius and New Zealand, as common with firms focusing on the Asian market, but the new Cyprus arm will allow it to service European clients via MiFID passporting.
President, FX Primus, Terry Thompson
Terry Thompson, President of FXPRIMUS, commented on the development, “This is quite a big step for FXPRIMUS in terms of meeting some of our primary goals for 2015 and beyond. It gives us greater access to the European market. While we’ve established quite a footprint in Asia, we recognize the importance of having more of a global reach, and a European license puts us in a better position to accomplish this. Additionally, in our relentless pursuit to affirm our commitment to being the “Safest Place to Trade,” we welcome the opportunity of being governed across multiple jurisdictions.”
Thompson expanded about working with the Cyprus watchdog: “The process in obtaining a CIF license is quite extensive, but a process we were more than happy in committing to. We look forward to working with CySEC and are appreciative of the issuance of the license."
It was also discovered earlier this month that FXPRIMUS is expanding in the UK and setting its sights on the institutional side of the business when it acquired CMS Forex, a British firm offering institutional Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term and prime-of-prime services in the FX, CFD and metals markets.
FXPRIMUS says it intends to open an office in Cyprus and become fully operational in early Q1, 2015.
FXPRIMUS, the Mauritius-based FX/CFD broker, announced today that its European entity, FX Primus Europe (CY) Ltd. has been granted a CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term Investment Firm (CIF) License from the Cyprus Securities & Exchange Commission.
FXPRIMUS is now able to provide assurance to its customers that they are trading with an EU regulated broker that complies with MiFID directives. Before this the broker was already licensed by the authorities of Mauritius and New Zealand, as common with firms focusing on the Asian market, but the new Cyprus arm will allow it to service European clients via MiFID passporting.
President, FX Primus, Terry Thompson
Terry Thompson, President of FXPRIMUS, commented on the development, “This is quite a big step for FXPRIMUS in terms of meeting some of our primary goals for 2015 and beyond. It gives us greater access to the European market. While we’ve established quite a footprint in Asia, we recognize the importance of having more of a global reach, and a European license puts us in a better position to accomplish this. Additionally, in our relentless pursuit to affirm our commitment to being the “Safest Place to Trade,” we welcome the opportunity of being governed across multiple jurisdictions.”
Thompson expanded about working with the Cyprus watchdog: “The process in obtaining a CIF license is quite extensive, but a process we were more than happy in committing to. We look forward to working with CySEC and are appreciative of the issuance of the license."
It was also discovered earlier this month that FXPRIMUS is expanding in the UK and setting its sights on the institutional side of the business when it acquired CMS Forex, a British firm offering institutional Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term and prime-of-prime services in the FX, CFD and metals markets.
FXPRIMUS says it intends to open an office in Cyprus and become fully operational in early Q1, 2015.