NICOSIA, Cyprus, July 16, 2012 /PRNewswire/ --
S.O. SpotOption, today's only licensed binary options market makers, sponsored conference to shed light on regulatory procedures for binary options.
Leading binary options platform providers, SpotOption, along with consultants Treppides & Co., gathered all the major players of the binary options and forex industry to confer regarding the new regulation requirements last Tuesday, July 10th.
Following the recent announcement that binary options have now been deemed financial instruments by CySEC, operators of binary options are now required to have a license if they wish to operate in Europe. There are several different license options, and procedural measures that need to be taken. As SpotOption received the highest level license possible, of market makers, they found it their responsibility to guide their existing and potential clients through the process. The seminar consisted of a step-by-step presentation by Mr. Marios Cosma, of Treppides & Co., regarding the license type and its costs, and the organizational structure of corporations wishing to obtain the license. Following Mr. Cosma's presentation, was another presentation by SpotOption's CFO, Gadi Divald, who explained SpotOption's new business structure which is compliant with the CIF Market Maker license, and how a SpotOption client can work under S.O. SpotOption's regulatory umbrella.
The seminar was deemed a success by the attendees, as light was definitely shed on the matter, and everyone found a way in which they can start or continue offering binary option that was best for their particular business. Most of all, the industry is now regulated, and no longer ambivalent regarding where it stands. This means that large forex bodies no longer have to hesitate about joining the binary options sensation, and existing binary options operators can feel secure that their industry is here to stay.
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SOURCE SpotOption Ltd.