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#1 14-05-2017 08:05:31

johnedward
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The Sirix trading platform is now compliant with French regulations

The Sirix trading platform is now compliant with French regulations


http://www.forex-central.net/img/social-trading/sirix_logo.png
Article by Financemagnates:

With the current environment in Europe of greater scrutiny by national authorities on trading practices, technology and service providers must increase their focus on regulation compliance in order to protect brokers from a possible crackdown.

Today we learn that Leverate, a technology provider specialising in brokerage solutions for the financial services industry, has confirmed that its Sirix trading platform is now fully compliant with the French regulatory requirements.

Among the most challenging rules to adapt to is that Autorité des Marchés Financiers (AMF), the French financial regulatory body, dictates that all new positions must be opened with a stop loss set by the trader, that stop loss being both guaranteed by the broker and unchangeable. The aim is that clients will only be able to lose either less than or exactly what they originally anticipated on every position.

According to Nicc Lewis, Chief Marketing Officer at Leverate: “Our aim is to provide our EU regulated brokers (CySec, FCA, Bafin…) and any other regulated broker the tools they need to enter the French market. It goes without saying that our LXLite clients (those using our license) will also have access to this market. Our social trading platform has been compliant with MIFID2 for a while already. Initially for CySec, now for FCA and can be adapted to any EU regulation with ease.

The trend we see is for trader protection. In particular, limiting client losses according to their means. Most of the developments for Social Trading were based on providing a questionnaire from which the system can limit the loss and exposure.

We know that we need to adapt our products to changes in EU regulation. We enable brokers to cross borders in order to expand and we give tools for marketing automation, with Optim8, to optimise conversion and retention on a larger scale. It is a time of transition in the EU and regulation is one factor that is reducing the profit margin per user. Brokers will have to attract more traders from more markets to compensate. Having a combination of a compliant trading platform and marketing automation is the first step – and Leverate is committed to providing these.


Test the Sirix platform by opening a "Web Trader" account at GKFX:


http://www.forex-central.net/img/logos/GKFX-logoBIG.jpg


"Anything worth having is worth going for - all the way." - J.R. Ewing

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