Client Notification - Enhancing methods of safeguarding client funds

Enhancing methods of safeguarding client funds

Top Markets Solutions Ltd* operating as TeleTrade Europe (hereinafter the “Company” or “we”) is a duly licensed and regulated broker that is held to the highest standards of safety and security within the financial services industry.

To this end, we always strive to find ways to mitigate risks in order to enhance investor protection and safeguard Clients’ assets in the best possible way.

In order to lower our credit risk, in addition to holding client funds with highly respected credit institutions, we will be holding client funds in Qualified Money Market Funds (QMMFs).

A QMMF is designed to be a safe place to keep your cash as it is subject to higher regulatory scrutiny and meets higher quality standards as set by MiFID II and the MMFR regulation.

We intend to be placing funds in some of the largest and well-established QMMFs in the world, managed by leading fund managers, and rated by the world’s leading credit-rating agencies.

On Monday February 5th, 2024, you will see a notification on your personal page, asking for your consent to place your funds in QMMFs.

For those who consent, there will be no impact whatsoever on your trading and the business relationship.

It is important to note that when placing your money in a QMMF, it will not be held as client money in accordance with the requirements for safeguarding client funds as set out in MiFID II and CySEC Directive DI87-01. However, funds placed in a QMMF are subject to strict regulatory standards of safety, as what is known as “safe custody assets” and are held in a segregated clients’ account.

As always, your funds remain instantly available for withdrawal or investing.

When consent is not provided, we regret to inform you that the Company will not be able to continue to provide its services to you. Please note that we will notify you of the termination of the business relationship that was established between you and the Company.

*In accordance with CySEC Circular C108, please be informed that the previous name of Top Markets Solutions Ltd was TeleTrade-DJ International Consulting Ltd.