Finalto has announced it has agreed to provide its comprehensive ODP (Over-the-Counter Derivative Provider) regulatory status and liquidity solutions to Trive South Africa’s clients, ensuring they remain compliant and efficient in their derivative trading ecosystem.
The South African operation of Finalto is thus further expanding within the African continent as it continues to fulfill commitments to develop meaningful and value-driven working relationships in the region.
Finalto is highly regarded as a leading provider of FSCA-approved ODP liquidity solutions for local South African financial services providers (FSPs). Its ‘plug-and-play’ derivatives liquidity solution offers peace of mind to FSPs that aim to stay ahead of the competition in an ever-evolving regulated landscape.
Top-tier and fully ODP-compliant liquidity solutions in South Africa
Marius Grobler, CEO of Trive South Africa, said: “Trive is pleased to announce its partnership with Finalto’s liquidity and Prime Brokerage services. Special thanks to Finalto Africa CEO Dany Mawas and the team for the smooth onboarding process. We look forward to a long and successful partnership together.”
“Trive SA entered a strategic partnership with Finalto on ODP liquidity to show our commitment to enhancing our clients’ trading experience by providing an ODP-compliant execution venue for our clients. This collaboration ensures our clients benefit from superior trading conditions, leading to more efficient, and profitable trading opportunities.”
Dany Mawas, CEO of Finalto Africa, said: “Finalto is committed to delivering innovative & compliant liquidity solutions across the globe. Our partnership with Trive South Africa is a testament to our dedication to expanding our footprint in South Africa. We are excited to support Trive South Africa in providing top-tier and fully ODP-compliant liquidity solutions to their clients.”
Finalto is one of the few holding an ODP license
It was in April of this year that Finalto launched its ODP liquidity solution in South Africa amid regulatory tightening. As one of the few financial institutions in South Africa to hold an ODP license, Finalto assures that its trading systems for over-the-counter derivatives are fully regulated and compliant with local laws.
Forex brokers in South Africa are overseen by the financial sector conduct authority, FSCA, which approves the platforms that can operate within the jurisdiction. The powerful watchdog handles the issuance of licenses and can sanction companies that violate guidelines of the nation’s dual regulation system.
The Financial Sector Conduct Authority (FSCA) of South Africa has recently intensified its efforts to enforce compliance among Financial Services Providers (FSPs) with the Financial Markets Act (FMA) of 2016. On March 28, 2024, the FSCA issued a warning against 14 specific FSPs that remain unlicensed to offer derivative trading options, highlighting the risks associated with unregulated financial activities.
In response to the FSCA’s actions, Finalto has reiterated its status as a licensed market maker, committed to the standards of reliability and regulatory compliance.
Finalto also boasts over two decades of fintech experience and expertise across a global spread of regulated jurisdictions. For FSPs in search of a compliant partner, Finalto continues to lead the way in financial services technology, innovation, and regulatory adherence.
South Africa enjoys a strong and well-organized financial market and therefore has become a popular destination for brokers looking to expand. It is one of the world’s top ten capital markets and boasts thousands of investors. The country itself is a diverse market that is largely devoid of the market saturation seen in other jurisdictions such as Europe.
