RE: US BINARY OPTS DEEP IN THE MONEY28 May 2015 22:26
TECH's RNS wrt US Cantor Exchange released on April 13th
TechFinancials (AIM:TECH), a software developer that supplies simplified trading solutions to online brokers, is pleased to announce that it has successfully established its position as preferred software provider for liquidity providers operating in the US binary options market. This follows a very successful first day of trading through Cantor Exchange, a US regulated retail-focused binary options exchange owned by Cantor Fitzgerald, through which TechFinancials is collaborating as an independent software vendor.
Following a six-month initial integration period, TechFinancials went live with the Exchange on 23 March 2015. TechFinancials' market leading pricing technology allows it to price options accurately even in complex situations such as demanded by USA financial regulation. TechFinancials' experience in pricing binary options provided a highly successful first day to liquidity providers on the back of significant trading volumes.
TechFinancials has started discussions with potential Introducing Brokers ("IB's") to use an integrated solution with Cantor that allows them to serve traders who wish to trade binary options on the Cantor Exchange. This will allow maximal utilization of the TechFinancials' platform and will help drive volume to the Exchange.
Cantor Exchange has recently started to offer gold binary contracts (as at 30 March 2015), using the Company's technology to supply further liquidity to Cantor Exchange contracts.
The successful first day of trading that resulted from TechFinancials' agreement with Cantor Exchange as well as the move into the US market represents an important milestone for the Group. It meets one of the key strategic objectives of penetrating new regulated markets with high growth potential as outlined at the time of the Group's Admission to AIM on 16 March 2015. The regulated US environment represents a new growth market for the Company and its licensees, and entering this market marks an important milestone in the Company's growth strategy.
TechFinancials' Directors believe that newly regulated markets such as the US have high growth potential, and the Company's expansion into the US market marks an important phase in its development. Additionally the increase in regulation through operations such as Cantor Exchange will help increase barriers to entry for new competitors looking to establish themselves in this market as well as current competitors who currently only produce simple products for unregulated markets.
Commenting on the agreement, Asaf Lahav, Group CEO of TechFinancials, said: "TechFinancials is very pleased to have been appointed by Cantor Exchange as its independent software vendor. TechFinancials' ability to provide for liquidity providers on the Exchange, supported by our software platform, demonstrates the strength and technological advancement of the TechFinancials pricing engine compared to