Hello,
I have been stuck with a problem that I hope other signal service providers may be able to help me with. Could you give me some advice, or at least point me in the right direction?
For our own use, we have developed a computer program that buys and sells
foreign exchange.
We’d like use this program to offer a commercial ‘signal service’ . An alternative model could be to act as an introducing broker to obtain a commission based upon trades that clients execute through the program.
Subscribers could be anywhere in the world. However, we are UK-based.
I’ve spoken with the FSA and tried to make sense of the PERG handbook, especially 2.5.4. But, I remain unclear whether a computer program issuing buy/sell instructions constitutes “investment services and activities”.
For the kind of activities outlined, do we need to become FSA registered?
Are there any related issues that you can bring to my attention?
Thanks in advance.
Dave