Binary Options Go West! NADEX Achieved Best Ever Results In 2013
by
Andrew Saks McLeod
Binary options exchange NADEX has announced a record year in exchange-traded binary options and spread contracts, amounting to a 106% increase when compared with the previous year.
The regulatory furore which surrounds the method by which OTC binary options products are sold in different jurisdictions has been a source of both bemusement and opportunity for many companies during 2013, with Japan having finalized its entire regulatory structure, requiring re-engineering of trading platforms intended for that particular market, and North America conducting a clampdown on firms soliciting OTC binary options in its territory.
Whilst one particular binary options brand is currently bearing the brunt of an ongoing lawsuit instigated by the Commodity Futures Trading Commission for offering such a product in a market where the marketing of OTC binary options is illegal, dedicated binary options exchange NADEX has announced today that it enjoyed record results during last year in terms of trading volume.
According to NADEX, the exchange experienced a 106% increase in binary options and spread contracts traded year-over-year. The most heavily traded contracts on the exchange during 2013 were the USD/JPY currency pair and the US 500.
"Our record volume performance in 2013 demonstrates consistent progress for NADEX and is a measure of the success we have had in providing a fully transparent platform to trade binary options and spreads for traders,” stated NADEX General Counsel and Chief Regulatory Officer, Tim McDermott in a commercial statement.
"Our growth in volumes can also be attributed to the enhanced efficiency of our Trading Platform as well as building closer relationships with trading members," he continued.
With the National Futures Association's regulatory stance on the illegality of trading binary options on an OTC basis in its jurisdiction, combined with its ability to censure overseas firms which seek to provide such products to American customers, binary options can only be traded via two dedicated binary options exchanges, one of which is NADEX, the other being Cantor Exchange, therefore providing clients with complete peace of mind and security that their funds are safe and that prices are completely transparent, whilst at the same time providing something of a captive audience to these venues.
NADEX, which is a subsidiary of IG Group, has garnered considerable interest from platform providers as the technology firms assess the required developmental input in order to create exchange-compatible binary options platforms in order to participate in the US market. If such moves are made by the larger platform companies, trading volumes at NADEX could increase further as more order flow is channeled through the exchange.
With the release of these results, an interesting correlation between Regulation and profitability within binary options is apparent, as not only did this North American exchange outperform the previous year by a significant margin, but Japan, which now also applies stringent regulatory oversight to its binary options firms, also played host to higher profitability than that of FX within its own domestic market during October.
Under the steerage of highly respected financial services senior executive Yossi Beinart, NADEX achieved these results, with Mr. Beinart having been elected to the prestigious position of heading the Tel Aviv Stock Exchange during what can be considered a poignant year in his career.
The regulatory furore which surrounds the method by which OTC binary options products are sold in different jurisdictions has been a source of both bemusement and opportunity for many companies during 2013, with Japan having finalized its entire regulatory structure, requiring re-engineering of trading platforms intended for that particular market, and North America conducting a clampdown on firms soliciting OTC binary options in its territory.
Whilst one particular binary options brand is currently bearing the brunt of an ongoing lawsuit instigated by the Commodity Futures Trading Commission for offering such a product in a market where the marketing of OTC binary options is illegal, dedicated binary options exchange NADEX has announced today that it enjoyed record results during last year in terms of trading volume.
According to NADEX, the exchange experienced a 106% increase in binary options and spread contracts traded year-over-year. The most heavily traded contracts on the exchange during 2013 were the USD/JPY currency pair and the US 500.
"Our record volume performance in 2013 demonstrates consistent progress for NADEX and is a measure of the success we have had in providing a fully transparent platform to trade binary options and spreads for traders,” stated NADEX General Counsel and Chief Regulatory Officer, Tim McDermott in a commercial statement.
"Our growth in volumes can also be attributed to the enhanced efficiency of our Trading Platform as well as building closer relationships with trading members," he continued.
With the National Futures Association's regulatory stance on the illegality of trading binary options on an OTC basis in its jurisdiction, combined with its ability to censure overseas firms which seek to provide such products to American customers, binary options can only be traded via two dedicated binary options exchanges, one of which is NADEX, the other being Cantor Exchange, therefore providing clients with complete peace of mind and security that their funds are safe and that prices are completely transparent, whilst at the same time providing something of a captive audience to these venues.
NADEX, which is a subsidiary of IG Group, has garnered considerable interest from platform providers as the technology firms assess the required developmental input in order to create exchange-compatible binary options platforms in order to participate in the US market. If such moves are made by the larger platform companies, trading volumes at NADEX could increase further as more order flow is channeled through the exchange.
With the release of these results, an interesting correlation between Regulation and profitability within binary options is apparent, as not only did this North American exchange outperform the previous year by a significant margin, but Japan, which now also applies stringent regulatory oversight to its binary options firms, also played host to higher profitability than that of FX within its own domestic market during October.
Under the steerage of highly respected financial services senior executive Yossi Beinart, NADEX achieved these results, with Mr. Beinart having been elected to the prestigious position of heading the Tel Aviv Stock Exchange during what can be considered a poignant year in his career.
EU Parliament Imposes €10,000 Cash Payment Limit in New Anti-money Laundering Legislation
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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