Retail brokerage group Exness announced on Tuesday that it has acquired an Over-The-Counter Derivative Provider (ODP) license in South Africa.
“The ODP license acquisition signifies a significant stepping stone for Exness in South Africa,” said Paul Margarites, Regional Commercial Director, Exness.
“Our promise to provide a frictionless trading experience doesn’t stop at trading conditions and a seamless client journey but extends to robust safety and security measures that put our clients first. In today’s online trading landscape adherence to the FSCA’s stringent standards ensures that our South African clients have an extra layer of peace of mind when trading with Exness.”
ODP licences were introduced by the South African regulator, the Financial Service Conduct Authority, in 2018.
The license is distinct from other securities brokering licenses that the regulator issues and is a requirement for any company that wants to offer clients trading in OTC products, including contracts for difference.
Recently, retail broker Trive formed a partnership with Finalto, with the broker using the liquidity provider’s ODP licensing umbrella to offer CFD products in South Africa.
