The Financial Commission (FinaCom), an independent self-regulatory compliance specialist for the financial services industry, today announced the certification of Tradency’s trading machine – RoboX.
The announcement comes shortly after the, and followed FinaCom’s review of RoboX, ensuring it met the technical information requirements of the Commission’s technology certification evaluation process.
Stringent Review
Tradency is a financial technology provider, focusing on B2B product development and advanced services for retail investors and retail traders. Financial institutions across the world license and market Tradency’s financial technology to create new market trends and business opportunities.
RoboX is a trading machine based on smart packages of strategies and is intended for traders wishing to diversify their investment portfolio by entering the lucrative FX market, while minimizing the time vested in the acquisition of knowledge.
The commission established a comprehensive list of points to verify including system security, capacity, business disaster recovery and a continuity plan, as well as reporting and record keeping, amongst other fields that were deemed important for certification.
We welcome Tradency to the Financial Commission as an approved provider.
Financial Commission Chairman Peter Tatarnikov said: “We are pleased to have concluded a successful technology certification for yet another provider and welcome Tradency to the Financial Commission as an approved provider. Reviewing the often complex business processes which underscore how technology works continues to be of the utmost importance amid scrutiny of best practices surrounding FX trading.”
Tradency CEO Lior Nabat added: “Tradency welcomes the opportunity to have the independent and qualified third party Financial Commission (FinaCom Plc), validate its machine. Certification from the Financial Commission, an organization which harbors a deep understanding of the Forex industry, underscores our commitment to best business practices and commercial integrity.”
The Financial Commission exists as an industry-focused dispute resolution service, with its Dispute Resolution Committee (DRC) acting as its paramount regulatory body. It is staffed by executives from leading companies in the financial services industry with the aim of resolving trader-broker conflicts.
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