CySEC Requests 2018 Trading Volume Data From All CIFs

The Cyprus Securities and Exchange Commission (CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term) announced this Tuesday that Cyprus Investment Firms (CIFs) are required to fill in a new form detailing their trading volumes for 2018. Retail brokerages regulated by CySEC are classified as CIFs.

The new form requires firms to report their trading volumes for the entirety of 2018. Volumes must be broken down into asset sub-classes, and CIFs must include all trading undertaken - whether it was with retail traders, professional traders or eligible counterparties.

Any margin trading must also be reported inclusive of the leveraged amount. For instance, if I traded $100 with 100:1 Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term, the reported amount would be $10,000.

Brokers will also have to distinguish between trades that were executed on behalf of their clients and any trading they did on their own account. Market makers, however, must report their activity within the client trading section and leave the other section blank to prevent double counting.

No CySEC reminder

In a statement issued on its website this Tuesday, CySEC said that firms must submit the document by April 12. The regulator noted that it would provide no further reminders to CIFs, that no extensions would be given beyond this date and that failure to submit the requested information will result in fines.

Though this may be a new form, this is not the first time that CySEC has collected trading volume data from CIFs. In the past, data gathered by the regulator - including trading volumes - has been used to strengthen regulatory oversight.

On this occasion, the regulator did not clarify why it is seeking to collect trading volume data. It could be an effort, on the part of the regulator, to see how product intervention measures, which were introduced by the European Securities and Markets Authority last August, have affected an industry that plays a huge role in the Cypriot economy.

Finance Magnates reached out to CySEC representatives for comment on this article but, at the time of publication, no response was forthcoming.