Finalto dispatches ODP fluidity infusion
- TradeSoft
- March 14, 2023
- Technology
- fxweekly
- 0 Comments
one of the financial institutions in South Africa with an ODP (Over-the-counter derivative product) license, is excited to announce the launch of its ODP Liquidity Solution.
Since the origination of FMA 2016, a limited number of distributor have had a permit to market, estimate and accomplish derivative products such as CFDs.
Companies with high priority for compliance, responsible engagement with customers, access to deep liquidity and good technology and platform provision were awarded the license.
Finalto was granted its ODP license in March 2022, joining a small number of financial services professionals who were able to meet the high bar set by the regulator.
As trading in speculative financial products involves high risk and strict capital adequacy measures, the ODP Regulation imposes additional due diligence requirements on the broker. It places the onus on the broker to maintain records and controls for end-of-day transaction reporting to ensure CFD trading is transparent and the ODP broker acts responsibly.
Finalto is a FAIS and ODP license holder in South Africa. The ODP license is primarily issued to trusted companies for the purpose of marketing and contracting CFDs, and Finalto is proud to be one of the first companies to meet these criteria.
