Binary Options Markets Operator Settles CFTC Charges For Registration Violations - Finance And Banking - United States

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It does not always have to be the same asset listed in different classes. There is usually a lag factor at play. It january be securities which have a close correlation such as commodities and the commodity currencies. Therefore, you would expect the value of the EURUSD to rise when there is an increase in oil prices, as a result of the inverse affectation of the US Dollar in that currency pairing. So if a trader sees big moves in crude, he can decide to perform a binary option strategies options arbitrage trade on the commodity currency pairing, depending on the direction of the move. Similarly, a rise in crude prices will see a fall in the value of the USDCAD, to reflect the inverse relationship between crude oil and the USD, and the direct relationship between crude oil and the Canadian Dollar (the currency of the country with the second largest oil reserves). For instance, there is an inverse relationship between crude oil prices and the value of the US Dollar. This is also called a Commodity Forex arbitrage.

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As a result, the CFTC charged the company with violations of Commodity Exchange Act Sections 4c(b) ("Prohibited transactions") and 5h(a)(1) ("Swap Execution Facility Registration"), and CFTC Rules 37.3 ("Requirements and procedures for registration") and 32.2 ("Commodity option transactions"). According to the CFTC, event market contracts, each composed of a pair of binary options, constitute swaps and, therefore, fall under the CFTC's jurisdiction and can only be offered on a registered exchange in accordance with the CEA and CFTC regulations. The CFTC alleged that, beginning in June 2020, the company, through its website, operated an illegal, unregistered or non-designated facility for event-based binary options online trading markets ("event markets").

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A New York City-based company settled CFTC charges for offering off-exchange, event-based binary options contracts and for failing to obtain designation as a designated contract market ("DCM") or registration as a swap execution facility.

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To settle the charges, the company was required to (i) pay a $1.4 million civil monetary penalty, (ii) wind down markets displayed online that do not comply with the CEA and applicable CFTC regulations, and (iii) cease and desist from violating the CEA and CFTC regulations as charged.

However, the website does have a section where they post relevant news and market research. Unfortunately, MarketsWorld does not offer any additional features or resources. We would have expected and liked to see some kind of learning centre on their website or a social trading or signal feature.

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