NEO Receives Authorization to Convert into a MIFID2 Regulated Firm to Deal with Fx Derivatives
On November 23rd , Neo Capital Markets SV SA was registered by the Spanish CNMV as a regulated investment firm allowed to deal with Fx derivatives.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181205005366/en/
Neo is now authorized to advise European clients on foreign exchange risk management and will be allowed to offer Fx trades execution from its proprietary platform www.getneo.com .
Neo is one of the first B2B Fintech to have reached this level of regulatory approval, which allows the digitalization of a large scope of hedging solutions for corporates.
Neo’s clients will have 100% digital access to hedging instruments normally sold by banks (such as Fx forwards, swaps and options). Neo’s platform will also propose pre-defined solutions for specific issues faced by corporates (budget hedging, foreign investment hedging, accounting hedging, automated order management).
Laurent Descout, CEO & co-founder, said: “Getting regulated for investment services is not just a significant milestone for Neo, but for the fintech industry in general. There are almost no independent investment firms in Europe and few are 100% Fx B2B focused. We are proud to be one of the first Fintech that is MIFID2 compliant as it is a mark of safety for our clients. We are now in great shape to help corporate clients operating cross border, through advisory and the automation of executing Fx hedges.”
Full Press release: https://www.getneo.com/neo-receives-mifid-ii-authorisation/
About the NEO Group:
The NEO Group was created in 2017 by Laurent Descout, Emmanuel Anton, Nuria Molet, Ian Yates, Mathias Ifergan and Matthew Pilling. Neo aims at gathering into a single one-stop shop the full scope of corporate banking services in order to contribute to the digital transformation of treasury departments. Our solutions are 100% proprietary, simple to use and fast to implement.
The Neo Group has its headquarters in Barcelona and employs 20 people between Barcelona, London and Cambridge.
Numero de registro CNMV: 283
NEO CAPITAL MARKETS SV, SA
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