As part of the Financial Commission’s certification process of trading platforms, in order to help ensure that at-a-minimum a basis is established using the criteria listed below, we require applicants submit all requested information as described and any additional that may be asked for.
The Certification process helps ensure that our supervisory responsibilities with regards to the dispute resolution process that the Financial Commission facilitates will remain fair and equitable.
Some items in the following questionnaire below may not apply to you. For example, if the system is hosted on your licensee’s data servers, which you have no control of. Nonetheless, applicants must let us know of such arrangements and provide the Financial Commission with minimum technical requirements to licensee’s infrastructure, as explained in the guidelines below.
In addition to questions, the Financial Commission must review technology providers written procedures to address the security, capacity and integrity of trading, and confirm such procedures are being followed.
Certification Guidelines Questionnaire (To be completed by all applicants):
1. SYSTEM SECURITY
Firewalls, Data encryption algorithm and suspicious activity monitoring
System Administration procedures
Server infrastructure and system backup procedures
Capacity monitoring procedures
Software update procedure
3.INSTRUMENTS AND ORDER TYPES
All instruments available within platform
List all types of orders that are available in the platform.
4.PRICING AND EXECUTION POLICY
List of quote-feed providers
Can broker set restrictions on trades? If yes, please describe.
Does system maintain applied restrictions logs?
Can broker adjust the price feed? If yes, please describe who can do so and under which circumstances?
Does system has a manual price change/input logs?
Does system has “bad print” or “price spike” protection?
Can broker set or execute orders on behalf of clients?
Does system maintain manual execution logs?
For Binary Options
Please provide the options pricing and payout calculation methodology.
Do you change the payouts during the option term?
Do you change payout terms based on market volatility?
Do you provide incentives to trade in a certain direction due to uneven spread of risk at the option expiry date?
Does system maintain the logs of payouts change?
5.REPORTING AND RECORD KEEPING
System must store tick data for at least 45 days.
System must have detailed report on all trades and orders places by the client or by the company on behalf of the client
Breakdown procedures that contain responsible employees for major blocks of the system and their main duties.
6.BUSINESS CONTINUITY/ DISASTER RECOVERY PLAN
Financial Commission believes that disaster recovery and business continuity issues are of utmost importance and trading technology providers must take a proactive approach to ensure that they have an adequate disaster recovery plan in place.
Disaster Recovery plan must contain the following information:
Implementation of Disaster Recovery/Business Continuity Plan
Disruptions of Third-Parties
Communication with the Financial Commission
Employee and Emergency Contact Information
Completed answers and requested information to the questions above should be submitted to the certification board of the Financial Commission, either in Microsoft Word Format, or PDF format.
AMTS ECN is the main product of AMTS Solutions and is a high-tech multi-module, infinitely scalable system that is based on a high-speed communication protocol and is resistant to high-demand architecture.
Binomo is a convenient and simple platform for trading the most popular assets of following asset classes: currencies (FOREX), cryptocurrencies, stocks, and commodities. The platform offers market analysis tools and interactive price charts, as well as robust account management tools built in directly on the platform.
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.
Broker Pilot is a web-based monitoring and risk management platform which aggregates data from many trading servers in realtime. This is a virtual Chief Dealer, who automates the work of dealers and instantly responds to various situations in emerging markets, minimizing the company’s financial losses.
Based in New York, Forex Development Corporation (FDC) is a leading technology provider of foreign exchange prime brokerage (FXPB) solutions, supported by a development team with over three decades of FX experience. FDC’s customizable B2B offerings allow brokers of all sizes to license its technology to develop prime brokerage offerings that offer seamless MetaTrader 4 integration, advanced profitability analytics in real-time, flexible introducing broker (IB) rebate structures.
Since 1997, Libertex has helped investors to effectively trade stocks, currencies, indices, commodities, gold, oil, gas and many other financial instruments.
Tools for brokers’ platform is completely automated and synchronized with MT4: all the reports, configurations and data feeds are supported. The solution includes most popular Option types, including touch and range Options and Options with different expiration period.
Ibinex is an exchange to exchange ecosystem, harnessing the power of thousands of exchanges with a connected and unified backend infrastructure. The combined trading of all Ibinex white label exchanges will make Ibinex the most used crypto trading platform in the world. Ibinex is a full stack dedicated and private institutional white label platform where anyone can set up their own customized cryptocurrency exchange in less than a month.
Olymp Trade is an international online trading platform, providing retail clients with access to financial markets. The platform has been successfully operating since 2014, its trademark being a variety of instruments and impeccable quality service
RAMM (Risk Allocation & Money Management) is an investment platform for wide audience of users. It’s a signal service from the legal viewpoint, offering accuracy and high execution speed of client’s orders due to their aggregation.
Umstel DMA multi-asset web based trading platform developed for financial institutes features one of the fastest industry web based financial charts and advanced technical analysis tools including 33 technical indicators, 30 technical objects and 9 default 100+ custom timeframe.
UpTrader is a technology provider with over 10 years of experience in development and implementation of reliable solutions for Forex and Binary Options brokerages. The company offers a wide range of ready-made modules and custom solutions required to support daily brokerage operations, available as either a subscription based (SaaS) or on-premises software.