Software developer O-Systems mulls entering US binary options market

Software developer O-Systems mulls entering US binary options market

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O-Systems, a binary options platforms and software provider, considers entering into a vendor agreement with Cantor Exchange, which will allow it to offer exchange-traded binary options in the US market, replacing SpotOption which is pulling out of the market, the company said on Friday.

Moreover, O-Systems intends to move all systems to the US market, the company said, without elaborating further on the issue.

Leading the way with advanced, user-friendly binary options and marketing tools, O-Systems has the determination, software and knowledge necessary to replace SpotOption and break into the US market with ease, the company said in a statement.

In May 2015, SpotOption started offering binary options with Forest Park BX being its first custom white label client. However, according to O-Systems’ statement, it is planning to exit the market. Cantor Exchange also partners with another two binary options software developers – Tradologic and TechFinancials, which are expected to start offering their services to US citizens in the first half of 2016.

Cantor Exchange is one of two binary options exchanges in the US where trading in binary options is allowed and regulated by the Commodity Futures Trading Commission (CFTC). The other exchanges is Nadex Exchenge. Over-the-counter binary options trading, on the other hand, is not legal in the country, since it is less transparent and riskier.

In the online trading world, binary options are the closest thing to gambling. In this type of trading, investors guess whether the price of a certain instrument, would go upwards or downwards within a pre-determined time frame. Once the time is up, the option is deemed expired and the bet is settled. Depending on the outcome, a trader either collects a profit, or loses money.

This type of trading is available in most countries, but there are some legislations like the US where it is forbidden. In neighboring Canada, there are no binary options brokers authorized by the relevant authorities to provide their services within the country. In May 2016, Israel’s securities watchdog banned binary options activities.

Cyprus-based O-Systems offers binary options brokers a complete set of solutions to start operations, including a trading platform, a customized and branded web site, back office services, system hosting and maintenance, customer relationship and risk management, as well as leads and media, and marketing and affiliates systems.

A month ago, O-Systems launched O-Freemium, a new automated sales platform under the freemium business model which will unlock certain features and make them available free of charge to paying customers.

Source: O-Systems


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