New York City, NY, July 06, 2016 (GLOBE NEWSWIRE) -- Financial Commission, a leading financial services industry external dispute resolution (EDR) organization, with a diverse membership of online brokerages and independent services providers (ISPs), today announces the technology certification of Forex Development Corporation (FDC), based in New York City.
Financial Commission conducted its rigorous review of FDC’s platforms, including its Condor Prime Back Office for MT4, to ensure it met the technical information requirements of the Commission’s technology certification evaluation process. The Financial Commission established a comprehensive list of requirements to verify system security, capacity, business disaster recovery, and continuity plan, as well as reporting and record keeping, among other fields deemed important for the technology certification of FDC.
“We are pleased to have concluded a successful technology certification for yet another provider and welcome Forex Development Corporation to the Financial Commission as an approved provider,” said Financial Commission Chairman Peter Tatarnikov. “Reviewing the often complex business processes which underscore how technology works continues to be of the utmost importance amid scrutiny of best practices surrounding trade execution and risk management, especially as brokers look to outsource such solutions to third parties.”
“As a fully integrated forex technology solution provider, FDC welcomes the opportunity to have the independent and qualified third party Financial Commission (FinaCom Plc), validate its platform,” said FDC Founder and CEO, Mitch Eaglstein. He added: “Certification from the Financial Commission, an organization which harbors a deep understanding of the Forex industry, underscores our commitment to best business practices and commercial integrity.”
Mr. Eaglstein possesses extensive foreign exchange sector experience, having held leadership positions at a number of FX firms in various jurisdictions including the U.S. In recent years, recognizing its growth potential, Mr. Eaglstein has focused his attention on the rapidly expanding prime brokerage subsector.
About FDC
Based in New York, Forex Development Corporation (FDC) is a leading technology provider of foreign exchange prime brokerage (FXPB) solutions, supported by a development team with over three decades of FX experience.
FDC’s customizable B2B offerings allow brokers of all sizes to license its technology to develop prime brokerage offerings that offer seamless MetaTrader 4 integration, advanced profitability analytics in real-time, flexible introducing broker (IB) rebate structures, and allotment of custom development hours to provide unparalleled customer service and individualized platform solutions. More information can be found at www.forexdevelopment.com
About Financial Commission
The Financial Commission is an external dispute resolution (EDR) organization for consumers/traders who are unable to resolve disputes with financial services providers that are members of the Financial Commission.
With a mission to provide a new approach for traders and brokers alike to resolve any issues that arise in the course of trading the Forex market, Financial Commission provides unmatched benefits to brokerages and their underlying clients.
The Financial Commission was established to be a neutral 3rd party committee to review fairly and resolve complaints to facilitate a simpler, swifter resolution than through industry regulators and the legal system.
Technology developers seeking membership status with the Financial Commission can learn more about the process and expected requirements as part of the technology certification process in advance of applying for membership or in the preparation of submitting an application.
For more information, please contact The Financial Commission: info@financialcommission.org