Launch of PYXmarkets
28 Mayo 2012 - 8:36AM
RNS Non-Regulatory
TIDMMHG
Merchant House Group PLC
28 May 2012
28 May 2012
Merchant House Group Plc
Launch of PYXmarkets
Merchant House Group plc ("MHG"), the AIM-quoted financial
services group, announces the launch of PYXmarkets by PYX Markets
Limited ("PYX"), a newly established company which will provide a
digital options trading platform allowing individuals to trade in
and out of the world's most liquid assets with defined return and
fixed risk exposure.
PYXmarkets' fixed risk/defined return system allows users to see
the maximum downside and the maximum return available of any
investment before they enter a trade, and, although losses cannot
exceed the initial premium placed, returns similar to those seen in
a spread betting environment can still be achieved.
Once a trade has been executed investors have, before maturity,
the flexibility of taking profit or limiting loss. All options left
to mature close automatically with maximum quoted gain or at
zero.
The platform will initially accommodate day traders. However, it
is intended that PYXmarkets will offer the ability to trade hourly,
daily, weekly and monthly digital options in the near future.
PYX is an Appointed Representative of MHG's wholly-owned
subsidiary Merchant Capital Limited, which is authorised and
regulated by the Financial Services Authority, and PYX is 47% owned
by Merchant Trading LLP, an MHG group company.
PYX has entered in to an agreement with PayWizard to process all
payments through this trading platform. PayWizard is an
award-winning multi-screen payment platform already integrated onto
many different devices. PayWizard also provides real-time
information directly back to the merchant as a live money
management tool. PayWizard is FSA-registered and all e-wallet funds
managed through the platform are held at RBS in accounts segregated
from PYX's operating accounts
Richard Hutchison, CEO of PYX, said:
"The ability to limit risk exposure is becoming increasingly
important and we feel that industry sentiment is moving towards
greater transparency in regards to potential loss and gain with
individual positions. We believe our fixed risk/defined return
approach provides complete integrity in this regard.
Christopher Day, CEO of Merchant House Group plc, added:
"PYX is a natural extension of the trading infrastructure
business within the Merchant group and the group takes no position
risk. Unlike many trading platforms offered to investors, users
cannot take on board a loss greater than their original investment
and have a fully transparent view of costs and returns whilst safe
in the knowledge that they can close a position before maturity to
take profit or limit a loss".
- Ends -
For further information:
Richard Hutchison 0207 332 2015
PYX Markets 0207 332 2253
Paul Quade 0207 248 8010
CityRoad Communications 07947 186694
Note to Editors: The term "Pyx" refers to the boxwood chest in
which new coins are placed for presentation to a jury independent
of the Royal Mint to ascertain that the gold, silver and
cupro-nickel coins made by the Mint are of the proper weight,
diameter and composition demanded by law. This practice began in
1282 and continues to this day.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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