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implement a trading solution for binary options needs to consider the following important features: a user friendly front end trading interface, the comprehensiveness of the back office system, and the robustness of the trading and data infrastructure. Other considerations are the integration and partnership options available for incorporating the platform as part of the broker’s business such as affiliation and whitelabel programmes.”


Integration issues


On back office issues involved with integrating binary option trading into a brokers’ existing


portfolio of trading platforms, products and services, traders need a seamless process for switching between other trading products and binary options, explains Friedberg. She states: “In essence, traders want to be able to have one log-in name, one password, and one place where they can provide funding and manage their account settings. Brokers look for simplicity in managing a multi-product operation; they need one full picture of their clients’ trading activity, including reporting, profit and loss statements and more, all in one easy to access location. MarketsPulse supports single sign-on, joint e-wallet and reporting to a main CRM using the advanced MarketsPulse API.”


Tammy Levy


“Brokers should choose a platform provider that is a licensed market maker. If they are already regulated, then they will definitely want to protect their credibility by working only with a platform that is regulated as well.”


Peretz states that issues related to the integration of a binary options trading platform to segments of the exiting trading platform and infrastructure of any given broker, is ultimately a matter of the level of openness and flexibility of the various interfaces exposed by both sides. “Anticipating the need for partial integration, we at Paragonex have developed our binary options trading platform with open interfaces and modular architecture that allow us a great level of flexibility in integrating only partial segments of our system to a very wide array of existing platforms on the online trading market. However, regardless of our flexible integration capabilities, we still believe that a fully hosted solution is the best and most logical choice for a broker who currently has no solution for binary options trading,” notes Peretz. “In essence, a fully hosted solution provides the fastest, most


efficient way to enter the market with minimal to virtually no risk. At the same time the broker does not sacrifice any flexibility for future changes in the integration level as its business needs evolve.” Every platform provider has a different integration procedure, says Levy. At SpotOption, Levy claims it is simple to add binary options to an existing forex operation. Furthermore, she adds that if the broker uses Leverate or MT4, they can have binary options integrated as a plug in with a synchronised balance and webtrader version as well.


While Noier states that the company supports many levels of integration, according to the needs to the existing broker. Tis ranges from a full integration to a standalone product. “Tradologic’s platform is also integrated with the MT4 platform, so a broker can choose between full integration to a MT4 download client or a cashier/registration integration only,” remarks Noier. She continues: “For an existing operator the full integration solution brings many advantages, however there are some brokers that prefer to take the product as a standalone business. We support both strategies, according to the broker’s decision.”


White Labelling


Tere are several ways to become a player in the online binary options market using White Labelling services that help FX brokers deploy a trading solution. Peretz says for brokers there are two common modes of operation: either partnering as a prime broker with a platform provider; or entering a White Label programme with a brokerage firm.


INSTITUTIONAL FX SERVICES - THE BROKERS HANDBOOK 2012/2013 | 55


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