Forbes Middle East
The Business Times
Close Cross Ltd. was registered in the UK (06444459) in December 2007. CloseCross owns and operates the world's only multi-party derivatives platform that utilises patented technologies and proprietary algorithm to create the world"s first "people only"? derivatives markets, while eliminating the need for centralised derivative issuers (e.g. Goldman Sachs, JP Morgan, etc.).
Close Cross Ltd. (UK) is the holding company that owns 100% of its holding and operating subsidiaries in Malta, that will hold the MIFID II, Type 2 license, making the platform the world's first blockchain based derivatives platform to receive this regulatory license that allows active marketing in the EU and the ability to accept users from most other countries without active promotion.
The financial derivatives market is worth $1200tn p.a. but only 1-2% of the population participates in it. This is mainly due to the problems the users face such as highly complex interfaces and difficult to understand financial jargon; high fixed costs; balance of information in favour of derivative issuers and facing unquantified risks when taking on leverage.
CloseCross removes complexity and provides aneasy-to-use interface without financial jargon;removes fixed costs and saves traders more than 90% of costs; eliminates the risk from leverage while still giving users potentially huge returns. CloseCross creates a fully transparent crowd-wisdom element that eliminates the imbalance of information seen in traditional financial derivatives markets.
The CloseCross promise: Enabling traders to make money by predicting the price of underlying assets like cryptocurrencies, forex, stock indices, commodities, interest rate, etc. an intuitive 3-step-derivative process with a real-time, transparent, crowd-wisdom driven platform that allows for potentially higher returns without the need for any leverage.
Beyond solving the key problems of today"s derivatives market and opening the market to the unserved 98-99% of the population; CloseCross is also bringing in new elements of Trust (regulated under MIFID) and Transparency (DLT) that will be the foundation for the success.
CloseCross makes money in the form of facilitation charges (up to 5%) for the multi-party contracts and bears no counterparty risks (No derivatives issuer today can get away from the risks that come from being a counterparty to the instruments they create and sell).
If you are a media house, journalist or a blogger regularly covering topics related to blockchain technologies, DLT, Ethereum, non-custodial solutions, Decentralized Finance (Defi), fintech, financial derivatives or people-only markets; you may find the CloseCross platforminteresting for your content. If you need to use any of our content or need some comments on specific topics, please contact us at [email protected]