NICOSIA, Cyprus, May 29, 2012 /PRNewswire/ --
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.
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.
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. As pioneers of the binary options industry, and today's leading platform provider, SpotOption had embarked on the journey with CySEC, conveying the urgency to regulate the industry and protect the mass amount of traders and operators dealing with the fastest growing trend in forex, binary options. As SpotOption led the process, together with CySEC, to deem binary options as financial instruments falling under the scope of Law 144(I)2007 the hard work paid off with the recent announcement of CySEC that the industry is now 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.
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SOURCE SpotOption Ltd.