May 30th, 2016 – Hong Kong & New York: The Financial Commission today – announces that it has successfully completed the certification of Binary Options Platform offered by Broctagon IT Solutions Pvt. Ltd, based on the rigorous process of evaluating comprehensive technical information requirements.
This review aims to check key points throughout the platform execution process to help ensure that an equitable decision process can be provided when reviewing claims from traders using such platforms. Also, as part of the review process, the Commission has established a detailed list of points to verify covering the following sections:
- Platform Security
- Platform Capacity
- Instruments and orders types
- Pricing and Execution Policy
- Reporting and record keeping
- Business Continuity/Disaster Recovery Plan
Michael Lau, Chief Marketing Officer of Broctagon IT Solutions Pvt. Ltd commented, “After several years in Retail FX technology business it is nice to see that there is finally a global organization, such as Financial Commission, which can expeditiously and effectively resolve conflicts within our industry in a friendly and a professional manner. This service is way overdue. We are proud to be a part of this initiative.”
In response to Broctagon’s Binary Options Platform certification, Financial Commission Chairman Peter Tatarnikov said: “ In order to provide clients with fair dispute resolution we must fully understand system’s execution mechanism and price determination process. Unfortunately, there is no singular standard that all binary options platforms shall adhere to and this is why trading technology certification is very important and needed. Today we gladly welcome Broctagon to our organization and believe it is a great step to leverage its credibility and grow its business globally.”
|Broctagon is one of the leading technology providers in Asia’s financial hub, and was officially established in 2014 with regional headquarters in Hong Kong, and their IT team spread across Singapore, India, China and Russia.|
Conducting businesses in China for more than a decade, Broctagon’s diverse management team not only comprises of ethnic Chinese roots but possess extensive knowledge and deep understanding of Chinese culture and business practices. Broctagon’s MT4 Binary Options technology which seamlessly integrates Binary Options to MT4 platform, coupled with its unique CRM and reporting systems specific to the needs of the Asian brokers, has also led one of their pioneering brands to receive the honorable title of “Best Binary Options Broker Asia” in the 2015 Global Banking & Finance Awards. Broctagon’s products and services have added value to the businesses of their clients and aided them in achieving industry-wide recognition.
ABOUT THE FINANCIAL COMMISSION
The industry-driven independent organization provides an unparalleled dispute resolution process between online brokerages and their end-customers, helping to avoid costly arbitration and/or regulatory complaints which typically leave the customer and brokerage with a negative relationship experience and customer disloyalty. The announcement marks the start of a potential new wave of member applicants from the binary options industry to join the Commission.
Technology developers seeking membership status with the Financial Commission can learn more about the process and expected requirements as part of the technology certification process in advance of applying for membership or in the preparation of submitting an application.
For more information, please contact The Financial Commission: [email protected]