(openPR) - Ada, Mich., February 13, 2005 — GFT (Global Forex Trading) is proud to announce that it is the first foreign–based, non–Japanese company specializing in foreign exchange trading services (margin fx trading) to receive its licensing from the Financial Services Agency (FSA) of Japan.
The FSA is the regulatory arm of Japan’s Minister of Financial Services that authorizes financial institutions and securities companies.
On December 28, 2005, the FSA determined that Global Forex Trading (www.gftforex.com) met all necessary stringent operating requirements for offering fx–margin trading to Japanese investors.
GFT applied for its FSA license in the fall of 2005, hoping to join the elite group of 93 Japanese companies currently holding the FSA license. More than 100 companies that applied for the license between July and December of 2005 were denied the license, and 96 companies are under temporary registration.
The license and registration are new requirements for firms offering forex trading services, as outlined in revisions to Japan’s Financial Futures Trading Law, which took effect July 1, 2005.
Approval for such licenses can sometimes take more than a year due to the FSA’s rigorous application process, which includes meticulously assessing each company’s business operations, financial stability and accounting practices—all of which GFT exceeded when it applied.
“We believe that our new license from the FSA is a demonstration of our commitment to serving our customers and partners in Japan and throughout the world,” said Gary L. Tilkin, president and CEO, GFT. “We are pleased to be recognized as the first non-domestic foreign exchange trading firm to receive this license.”
GFT has a history of partnering with financial services companies in Japan, dating back to early 2002. These partners, or referring parties, encompass a wide range of relationships with Japan-based companies that offer GFT’s fx-margin trading services to their customers through an account referral program that’s profitable for the business.
Currently, GFT has partnerships with several of Japan’s largest financial services companies, which introduce customers to GFT’s fx-margin trading services.
December 2005 marked the one–year anniversary of the opening of GFT’s Tokyo office as a primary market for expanding its global foreign exchange trading services. Since then, GFT has continued to realize exponential growth in trading volume and the number of traders using GFT’s award–winning software, DealBook® FX 2.
Founded in 1997, Global Forex Trading (GFT) is a world–leader in online currency trading. Serving a global customer–base in more than 120 countries through its DealBook® FX 2 trading software and 24–hour dealing operation, GFT’s world headquarters are in Ada, Michigan, with sales offices located in New York, Chicago, Tokyo and Sydney, Australia.
Global Forex Trading (GFT), Division of Global Futures and Forex, Ltd., is a registered futures commission merchant with the Commodity Futures Trading Commission (CFTC), a registered broker–dealer with the U.S. Securities and Exchange Commission and a member of the Australian Securities & Investments Commission (ASIC). For each successive year between 2001 and 2004, GFT’s year–over–year volume increased an average of 85 percent. More information about GFT can be found at japan.gftforex.com.
# # #
***
Global Forex Trading
4760 Fulton, Suite 201
Ada, MI 49301
Kelly Quintanilla
Marketing / Communications Specialist
Global Forex Trading
616-942-3772 kquintanilla@gftforex.com
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
Newsfeed
