The Board of the Capital Markets Authority (CMA) has approved the grant of a license to Execution Point Limited to operate as a non – dealing online foreign exchange broker in line with the Capital Markets (Online Foreign Exchange Trading) Regulations, 2017.
The non-dealing online foreign exchange broker license means the entity is licensed by the Authority to act as a link between the foreign exchange market and a client in return for a commission or mark-up in spreads and does not engage in market-making activities (buying and selling of foreign currencies).
This is the first license to be issued under the new regulations, which brought the oversight of online foreign exchange brokerage services under the Authority, which includes licensing and supervision of licensed entities.
This story is from the April 2018 edition of Think Business.
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This story is from the April 2018 edition of Think Business.
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