Here at Made To Trade, we have already covered the emergence of a couple financially regulated Binary Options platforms and it now appears that a third player is going to enter the marketplace following the likes of TopOption and Banc De Binary. Yesterday Cypriot financial regulator announced that they were authorizing six different firms Cypriot Investment Firm licences. Possibly the most interesting firm included on the list is Ouroboros Derivatives Trading Ltd.
While there is not much information to be found online regarding the firm, a quick Google of ‘Ouroboros Derivatives Trading Ltd.’ will lead you to the Linkedin profile of Eran Chertok-Gorodezky who is listed as the CEO of the said company. According to his profile:
“Ouroboros Derivatives Trading Limited is the first Cyprus Investment Firm (“CIF”) to receive a license from the Cyprus Securities & Exchange Commission (“CySEC”) on the bases of providing binary options trading (license number 187/12). The company will be offering binary options trading to EU clients.”
This however is not strictly true with it being Banc De Binary who became the first firm licensed by CySEC on the basis of providing online Binary Options. It should also be pointed out the Safecap Investments Ltd. (best known for their Markets.com brand) have possessed a regulated Binary Options platform since mid December.
It is not clear whether Ouroboros Derivatives Trading Limited. currently operate a Binary Options platform or whether one will be established in the coming months. Searches for CEO Eran Chertok-Gorodezky do not turn up much, but do suggest some limited links to Israel whether this is the case still remains to be seen.
Since CySEC regulated Binary Options in early May 2012, a number of Binary Option firms have become regulated in the jurisdiction of Cyprus including S.O SpotOption Ltd. the biggest Binary Options platform provider. In January 2013, Banc De Binary became the first Binary Options provider to be regulated on the basis of solely providing Binary Options to EU customers. Currently CySEC are the only European financial regulator to recognize non-exchange traded Binary Options as a financial product, with Binary Options being classed as a form of gambling in a number of different jurisdictions (e.g Malta). It seems unlikely that other European financial regulators will follow CySEC in regulating Binary Options as a type of financial instrument.