CySEC Requests 2018 Trading Volume Data From All CIFs

The Cyprus Securities and Exchange Commission (CySEC) introduced this Tuesday that Cyprus Investment Firms (CIFs) are required to fill in a brand new type detailing their buying and selling volumes for 2018. Retail brokerages regulated by CySEC are labeled as CIFs.

The new type requires corporations to report their buying and selling volumes for the whole thing of 2018. Volumes should be damaged down into asset sub-classes, and CIFs should embody all buying and selling undertaken – whether or not it was with retail merchants, skilled merchants or eligible counterparties.

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Any margin buying and selling should even be reported inclusive of the leveraged quantity. For occasion, if I traded $100 with 100:1 leverage, the reported quantity can be $10,000.

Brokers will even have to differentiate between trades that had been executed on behalf of their shoppers and any buying and selling they did on their very own account. Market makers, nevertheless, should report their exercise inside the consumer buying and selling part and go away the opposite part clean to stop double counting.

No CySEC reminder

In a press release issued on its web site this Tuesday, CySEC mentioned that corporations should submit the doc by April 12. The regulator famous that it could present no additional reminders to CIFs, that no extensions can be given past this date and that failure to submit the requested data will end in fines.

Though this can be a brand new type, this isn’t the primary time that CySEC has collected buying and selling quantity knowledge from CIFs. In the previous, knowledge gathered by the regulator – together with buying and selling volumes – has been used to strengthen regulatory oversight.

On this event, the regulator didn’t make clear why it’s looking for to gather buying and selling quantity knowledge. It could possibly be an effort, on the a part of the regulator, to see how product intervention measures, which had been launched by the European Securities and Markets Authority final August, have affected an business that performs an enormous function within the Cypriot economic system.

Finance Magnates reached out to CySEC representatives for touch upon this text however, on the time of publication, no response was forthcoming.

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David is the founder of The firm originates business financing for companies of all size in the Canadian marketplace . Originations include business loans, term loans, asset based lines of credit, SR ED Tax credit financing , and receivable financing .

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