Bitcoin MT4 Liquidity and Binary Options Troubles - Best of the Week

Last week we saw the forex industry achieve further Bitcoin trading capabilities and North American authorities continuing their war on binary options.

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Centralized FX?

On Monday FastMatch revealed its central tape for FX. The intention is to set up FX Tape as a “central reference point for Spot FX transacted prices helping market participants evaluate best execution performance.”

Participation will be voluntary under an open access model, with FX Tape offering commercial incentives to encourage ECNs to contribute data. This includes allowing contributors to obtain a percentage of the net revenue generated by FX Tape according to the volume they contributed with.

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On Tuesday we reported that CFH Clearing has become the latest venue to offer liquidity in Bitcoin trading through FIX and MetaTrader 4 (MT4). The group’s initial offering entails Bitcoin contracts-for-difference (CFDs), with an expanded cryptocurrency suite already planned.

Matthew Maloney, CEO, CFH Clearing, commented: “With demand for Bitcoin at an all- time high, we wanted to offer much more than a cryptocurrency price feed to clients but provide a venue for them to offload some of the risk, too.”

$98.9 Million

On Wednesday we reported that Google has handed over to the FBI confidential emails between binary options technology provider SpotOption and its client, brokerage BinaryBook. The information is contained in court documents related to the arrest of Lee Elbaz, the CEO of Yukom.

According to data collected by the FBI, between the second quarter of 2014 and the fourth quarter of 2016 BinaryBook received $98.9 million worth of deposits. There is no information in the document regarding what proportion of those funds had been deposited by US clients.

Canada vs Binary Options

On Thursday the Canadian supra-national regulator, Canadian Securities Administrators, revealed that it decided to make trading binary options illegal.

The Chair of the CSA, Louis Morisset, said: “This ban positions the CSA among the world leaders in fighting back against binary options fraud and represents an important step in protecting Canadians. It conveys a clear message that these products are unsuitable for individuals because of their risky characteristics and that their trading is illegal.”

Japanese Bitcoin Licence

On Friday it was reported that eleven companies have received a cryptocurrency dealer license from the Japanese Financial Services Agency (JFSA). The firms notably include a companies related to the retail FX arena in Japan – Money Partners and GMO Coin.

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