Financial Commission Adds New Services to Increase Transparency for Brokers

The Financial Commission, a forex independent self-regulatory and external dispute resolution (EDR) body, announced on Thursday that it has added a suite of “value-added” services. These products aim to help brokers improve business practices as well as increase transparency and efficiency in the wake of the recently implemented European regulation surrounding contracts for differences (CFDs).

The new services and tools are aimed at online brokers that operate in the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, derivatives and CFD markets. Members of the regulator now have access to four new products include an Executive Certification service which is delivered in partnership with Verify My Trade.

The execution service allows both brokers and investors alike to access the quality of trade execution. It works similar to the best execution requirements in major jurisdictions, where brokers executing orders on behalf of their customers guarantee the best trade execution possible.

The execution certificate analyses historical trade data on a monthly basis. This is to determine satisfactory trade executions overall. According to the statement from the regulator, this service aims to increase transparency for both brokers and investors.

This service is available for current and future broker members of the watchdog. The service will be offered free of charge for the first year, the statement said. Investors are also able to access participating broker’s certificates through the regulator’s website.

New value-added products from the Financial Commission

The other products available through the Financial Commission are Broker Pilot, DisputeWatch and Delkos Research. Broker Pilot is a web-based monitoring and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term platform. The platform aggregates data in real-time and acts as a virtual Chief Dealer.

DisputeWatch allows you to monitor fraudulent activity in real-time by creating clients’ watchlists. The regulator has also joined forces with Delkos research to add a suite of research tools for its broker members. This includes price movement alerts and open trades sent directly to the customers of member brokers using digital channels.