CySEC Withdraw Decision of Suspending Authorisation of MPS Marketplace after One Year

The Cyprus Securities and Exchange Commission (CySEC) announced on Thursday that it has recalled its decision of suspending CIF license of MPS Marketplace Securities Ltd(formerly known as SpotOption Exchange Ltd and S.O. Spotoption Ltd), number 170/12. 

According to the Cypriot watchdog, the decision was made in accordance with paragraph 9(3)(a) of Directive DI87-05 for the Withdrawal and Suspension of Authorisation, as it has been satisfied that the Company has complied with Article 93(1) of Regulation (EU) No 575/2013 on prudential requirements. However, it is not clear when the company will start operating again.

Back to 24 September 2019, CySEC determined to suspend its authorisation of MPS as the alleged violation may cause concern and risk relating to the protection of the company’s clients and constitute a threat to the orderly operation and integrity of the market.

The Company was forced to take actions in order to comply with the aforementioned provisions within 15 days.

As seen on its official website, MPS aims to provide multi-asset, deep-liquidity solutions through cutting-edge technology. They provide institutional clients, such as banking institutions, hedge funds, FX brokerages, family offices, as well as many others, with leading and reliable technology, in combination with well-managed liquidity.