MAP S.Platis participates at 6th Middle East Forex Trading Expo and Conference in Beirut

MAP S.Platis is a unique and specialised EU financial services advisory firm, offering consulting services, executive training and research in the financial services sector, with an impressive client list, throughout Europe. Its consultants are highly specialized, academically qualified individuals with extensive experience both in Cyprus and abroad. MAP S.Platis has played a leading and crucial role in licensing and shaping the internal audit and compliance procedures for the majority of Cyprus investment firms. It provides advisory services during the licensing process, as well as the actual setting up of these firms. This has given the consultants of MAP S.Platis the chance to accumulate a substantial practical experience in assisting brokers to meet regulatory requirements. It is precisely for this reason that the local regulators continuously seek the advice and professional training of MAP S.Platis, especially on FX matters.

As regards FX licensing in Cyprus, in particular, MAP S.Platis remains to-date the only service provider in the region which has been successful in obtaining EU licenses for Cyprus Investment Firms to deal purely in FX, under the current legislation.

Dr. Stelios Platis, Managing Director of MAP S.Platis and President of the Association of Cyprus International Investment Firms (ACIIF), will give a presentation, during the conference, on the current regulatory environment in the European Union and, specifically, the Markets in Financial Instruments Directive (MiFID), by reference to the Cyprus implementation of MiFID.

According to Dr. Platis, the forex market has become key to Cyprus, recently. "The forex market is the largest and most liquid in the world with over $3,7 trillion traded daily," says Platis. "In the last two years, Cyprus has seen many important forex players establish a presence on the island, seeking to become licensed under the EU regulatory framework. This has led to Cyprus being at the forefront of this booming market. However, there are many challenges around the regulation and procedures in this sector, not only in Europe but on an international level."