The new platform is estimated to launch by the end of December 2013 and complies with the option contract specification requirements of the regulator, such as predefined strike prices, contract trading, serial numbers of each trade, and other criteria pertaining to the newly regulated instruments.
This news follows FXTrade Financial’s previous launch with MarketsPulse after a series of regulatory changes that aimed to provide a standardized framework for the way that Binary options can be offered and traded in Japan.
This also emphasizes FXTrade Financial’s intent toward furthering its position into the newly regulated segment, considering the company released its Japanese FSA-compliant binary options trading platform subsequent to the introduction of domestic regulatory reformations and after it had been voted best binary options broker at the Forex Magnates Tokyo Summit this July by industry members.
Commenting in the corporate statement released by TRADOLOGIC today, Shoham Cohen, Senior Advisor at TRADOLOGIC said,”as the biggest binary provider with the best products, we are happy for the partnership we have established with one of the leading binary options brokers in the world. With the TRADOLOGIC technology and the FX TRADE knowledge we will have a successful partnership.” The above mentioned corporate statement also follows on the recent opening of a branch office in the UK, bringing the total number of global offices to ten for the Sofia based software company.
Staying Ahead: How Brokers Are Approaching 2020Go to article >>
Ilan Tzorya, CEO of TRADOLOGIC had previously announced during the Forex Magnates Tokyo summit the launch of “Binary 100”, the company’s new Japanese FSA compliant binary options contract that would enable the platform for Japan to be optimized to accommodate the new rules and has experienced a steady increase in partners over recent months.
FXTrade Financial currently offers multiple OTC Forex platforms including MT4 and ActTrader as well as social trading via MirrorTrader and the new launch of the TRADOLOGIC platform will diversify its binary options offering, which at the moment is provided by MarketsPulse’s High/Low platform.
Mr. Yasuharu Tsuru, CEO of FXTrade Financial, also served as Chairman of the working group which implemented the binary options regulatory structure. Accordingly, FXTrade Financial may be leading the way of what could be a developing wave of brokers in Japan that may join in catering to the growing demand that binary options is apparently generating in the Far East.
The binary options related regulatory changes in Japan were based on proposals submitted by the Financial Futures Association of Japan which had since been finalized by the Japanese FSA.
FXTrade Financial stated on its website that it had achieved a net revenue of nearly 370 million Yen in the last reported period (ending March 31, 2013), and appears to have experienced consistent growth every year across the operating metrics listed on the company’s financial statemens since 2007.