Two Binary Options trading brokers, 24Options and ZoneOptions, changed their CySEC registered company and now share the same license under the Cyprus Securities and Exchange Commission (CySEC), according to an announcement made by the regulator last night. The move was actually completed a while back but only just released for publication by CySEC.
Before the move, ZoneOptions, which was launched by 24Options group as a separate brand a while back, was registered under the company name of Rodeler Limited, and 24Options was registered as Cbay Financial Services Ltd. Now the two companies, some of their ownership overlapping, have decided to operate both brands under the same regulatory umbrella, apparently to optimize operational costs.
Cbay Financial Services Ltd. renounced the CIF license it had from CySEC according to its announcement, and now both 24Options and ZoneOptions are brand names owned and operated by Rodeler Limited.
This continues a new trend we witness in the binary options market where successful binary brands launch new, separate brands in order to further their business, as growing a single brand beyond a certain peak it reaches proves to be challenging.