Announcement and News
BYFX Global signs FX Clearing Trust as its Neutral Third-party Custodian to strengthen Safety for Client Money

CAYMAN ISLANDS, [7th November, 2018], – BYFX Global Co., Limited (“BYFX Global”) announced that it has appointed FX Clearing Trust Co., Ltd (“FX Clearing Trust”) on 2nd October 2018 to serve as its neutral, third-party custodian of client assets for OTC FX trading and exchanges.

A custodian trust safeguards clients’ asset portfolio and ensures client assets to be properly segregated from the assets of the trustee. Most importantly, a custodian trust protects clients’ assets in the event of insolvency of the responsible trustee.

FX Clearing Trust, a subsidiary of SBI Holdings, Inc, is a registered managed trust company (Japan Financial Service Agency JCN 4010401113115) that too is an associate member of the Trust Companies Association of Japan. FX Clearing Trust’s unique trust scheme enables asset preservation of all FX trading participants in the framework of the trust system. With FX Clearing Trust as BYFX Global’s neutral, third-party custodian trust, client money will be fully safeguarded in FX Clearing Trust, completely segregated from BYFX Global’s account. Such high level of security and safety for client money is essential to client confidence for the FX industry and BYFX Global.

Furthermore, BYFX Global is licensed as Market Maker with the Securities Investment Business Law (SIBL) regulated by the Cayman Islands Monetary Authority (CIMA). The Cayman Islands, recognized for its stringent regulations, provide a safe and secure trading regulatory framework for BYFX Global.

“We take client money safety very seriously. We are proud to present FX Clearing Trust as our custodian. A custodian trust offers more protection and is beyond traditional measures such as client money segregation or deposit insurance. We strive to adopt the highest standards of client money safety and provide the best trading environment for our rapidly growing client base,” says Zhu Min, CEO of BYFX Global.

ABOUT BYFX GLOBAL

BYFX Global Co., Limited  (SIBL License number: 1458866) is a wholly owned subsidiary of SBI Holdings, Inc (TYO:8473), providing liquidity solutions and highly secure and comprehensive online OTC trading services for Spot FX, Spot Bullion [1] and Physical Bullion [2] (www.byfx.com). The SBI Group is recognized as a Fintech and online financial pioneer in Japan with over 230 companies [3] around the world. SBI Holdings, Inc is listed on Tokyo Stock Exchange and has accumulated over 23.9 million [4] customers in September 2018.

Reference:
[1] OTC Spot Bullion is expected to be launched in in 2018Q4
[2] Physical Bullion is expected to be launched in 2018Q4
[3] The SBI Group Annual Report 2018 (As of March 2018)
[4] SBI Holdings, Inc Financial Results (Fiscal year ending March 2019)

Live chat
Call me now

         Want to have a quick call? Leave your
         brief contact here, we will call back to
         you soon!

         Name

         Phone

         

x
Open account