Financial Commission member brokers to receive discounts for VerifyMyTrade services
Regulatory constraints such as the ones specified in MIFID II are forcing forex brokers to create a trading environment that is fair and transparent for all market participants. VerifyMyTrade offers services that encourage fair play in the forex market by allowing market participants to assess the quality of the execution their broker is providing
The Financial Commission, a leading independent member-driven external dispute resolution (EDR) organization for international online brokerages that participate in global foreign exchange (forex), derivatives, and cryptocurrency markets, today announces a partnership with VerifyMyTrade. With this partnership, all current and future members of The Financial Commission will receive discounts on all VerifyMyTrade products.
Regulatory constraints such as the ones specified in MIFID II are forcing forex brokers to create a trading environment that is fair and transparent for all market participants. VerifyMyTrade offers services that encourage fair play in the forex market by allowing market participants to assess the quality of the execution their broker is providing.
VerifyMyTrade consolidates price feeds from dozens of global OTC retail forex brokers and produces statistical models of the representative market price based on the raw tick data for every second of the day.
VerifyMyTrade product suite is comprised of three offerings; a regulatory reporting framework that deals with execution quality, a framework for building trust between the trader and broker by highlighting the quality of execution the trader is receiving, and a dispute resolution service for brokers that reduces the cost and time needed to deal with traders’ queries regarding trade price execution.
Jeremy White, CEO, VerifyMyTrade commented “Regulations such as MiFID II are forcing the industry to be more transparent about execution and how this information is communicated to all stakeholders. We are very happy to partner with the Financial Commission who share the same transparency vision and look forward to working with the FInancial Commission memer brokers”.
