EU consultancy backs Beirut forex expo
Beirut, May 11, 2010
MAP S.Platis, an EU financial services advisory firm, will take part in an upcoming forex trading exhibition and conference in Beirut.
The sixth Middle East Forex Trading Expo and Conference will take place on May 20 and 21 at the Habtoor Grand Hotel in Beirut, Lebanon.
Visitors to the MAP S.Platis stand will be able to meet members of the financial services advisory teams and find out more about how one can obtain an EU financial institution license and operate within the European Union.
Its consultants are highly specialised, academically qualified individuals with extensive experience both in Cyprus and abroad, a statement said.
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, the statement added.
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, the statement said.
“The forex market is the largest and most liquid in the world with over $3.7 trillion traded daily,” said Dr Stelios Platis, managing director of MAP S.Platis and president of the Association of Cyprus International Investment Firms (ACIIF).
“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,” he added.
Dr Platis will give a presentation during the conference on the current regulatory environment in the European Union and, specifically, the markets in financial instruments directive.
The event is organised by Arabcom Group, a pioneer in the business of promoting socio-economic development in the Arab States. – TradeArabia News Service