CX President on API, Regulations and More

Cantor Exchange President on API Traders, U.S Regulations and More


By Avi Mizrahi of Finance Magnates


Check out the full article on the Finance Magnates website.


Rich Jaycobs, President of Cantor Futures Exchange, sat down with Finance Magnates to discuss his perspective on the Cantor Exchange mission and the future of the binary options industry.


Jaycobs detailed the Cantor Exchange Independent Software Vendor (ISV) business model and the benefits it will yield to Exchange Participants, offering them the opportunity to choose which trading interface best fits their trading needs and goals. One major benefit of the Cantor Exchange model is that Participants are able to enter their own prices into the market for other Participants to trade on, as every order is available to every trader.


Rich Jaycobs explained,


“Our goal is to sign up as many technology providers as we possibly can. We also want to sign up as many API-connected traders as we possibly can. And we want to encourage companies interested in marketing binary options in the U.S to become NFA members so that they can join our Referring Participant incentive program. Outside of the U.S., these functions all tend to be provided by one company, but in the U.S. these functions are kept distinct with different rules for each.”


“We think different platform providers present different ways of trading that Cantor Exchange traders would like to use. For example, right now there is an iPad app that shows a very traditional options market view. But we also have the platform that SpotOption developed which shows a very different display of market information that appeals largely to binary options traders. And when released the TechFinancials and TRADOLOGIC trading interfaces will all have their own ways to display information that their customers prefer. These firms are not brokers and they are not market makers, they are technology providers offering tools for Cantor Exchange traders to use when placing orders into the market.”