The relevant Cyprus legislation for the regulation of CIFs and Investments Firms, Law 144(I)/2007 and 106(I)/2009, as amended, ‘Law which Provides for the Provisions of Investment Services, the Exercise of Investment Activities, the Operation of Regulated Markets and other Related Matters (hereinafter referred to as the “Law”) has been drafted and is implementing within Cyprus legislation the original Markets in Financial Instruments Directive (MiFID), which was implemented in November 2007. MiFID introduced competition to the EU trading landscape and provided a ‘passport’ for trading venues and investment firms to operate throughout Europe on the basis of authorisation in their home Member State (MS), introducing also a number of various investor protection measures.
Since May 4 2012 Binary Options are considered Financial Instruments and covered under the law.
Lionsman Capital Markets (Cyprus) Ltd is authorised to provide investment and ancillary services in the EU (including France) under CySec license 175/12, using the trading name Optionweb.