CySec announced its plans to start regulating binary options only 3 weeks ago and SpotOption is not wasting anytime by becoming the first company to receive the binary options license. This is very interesting as SpotOption is a binary software provider and will now be able to provide all its white labels with regulatory umbrella thus immediately paving way for few dozens of its clients to become instantly regulated.
S.O. SpotOption Receives the First CySEC Binary Options Market Maker License
Leading Binary Options platform provider, SpotOption, has now officially become the only market maker (S.O. SpotOption) regulated by the Cyprus Securities and Exchange Commission.
May, 2012 – SpotOption is proud to announce their new role as CySEC regulated Market Makers. This means that SpotOption has upgraded its services to include not only software provision, but investment services as a financial institution. S.O. SpotOption can now offer their clients their regulated umbrella which allows them to work lawfully and in compliance with CySEC of Europe.
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SpotOption recognized the tremendous need for regulation of the Binary Options industry on a whole, as well as the need for regulated forex bodies to be connected to a regulated binary options market maker. As more and more binary options operations were being established, and more traders were demanding binary options, the need for regulation greatly increased to protect the mass amount of traders and operators dealing with the fastest growing trend in forex, binary options. As a result, CySEC deemed binary options as financial instruments falling under the scope of Law 144(I)2007 and recently announced that the industry is, in fact, regulated.
As the only regulated market maker, SpotOption is now considered a Cyprus Investment Firm (CIF), which means that they may enter into collaboration with other companies (white labels) under their license.
“This is a major breakthrough in the industry,” says Pini Peter, founder of SpotOption. “We’ve worked long and hard to help get binary options the regulations it deserves, and we’re proud of SpotOption’s expansion from software providers to a market making investment firm. Our clients deserve to work lawfully, legitimately, and safely, and I saw it as our obligation to make that happen for them.”
SpotOption will give more details about the Binary Options regulation at the IFX Expo, in Cyprus this week.