FNG Interview… The annual Finance Magnates Africa Summit (FMAS) conference is a cornerstone event for the financial services sector, offering a platform for industry leaders to discuss the latest trends and regulatory developments. This year, FMAS:24 was particularly significant for Finalto SA, whose innovative ODP (Over-the-Counter Derivatives Provider) solutions garnered considerable attention.

In this interview, we speak with Dany Mawas, CEO of Finalto SA, about the highlights of FMAS:24 and the growing importance of ODP compliance in South Africa. Mawas shares insights into why their plug-and-play solutions are revolutionizing the market, the positive reception from local and global firms, and the critical steps firms must take to remain competitive in this rapidly evolving regulatory environment.

FNG: Hi Dany. Could you share some highlights from FMAS:24 and elaborate on why your ODP solutions attracted so much attention?

Dany: FMAS is always a vibrant event, and this year was a landmark for both us and the broader South African financial services sector. We saw significant engagement from new entrants and established local brokerages, both of which are scaling up their operational presence in the region. With restrictions on derivatives trading, everyone is striving to gain a first-mover advantage.

Finalto is one of the few prime brokerage firms with the requisite ODP license to market make for derivative products and provide ODP-compliant liquidity solutions – putting us in high demand. Achieving ODP compliance is not just about regulatory adherence; it’s a competitive edge. The licensing barrier means brokers who offer these instruments first have a significantly stronger value proposition in South Africa. Our solutions provide a streamlined, plug-and-play approach that simplifies the process, allowing firms to integrate and comply without bureaucratic hurdles. One new important B2B ODP integration will soon be announced publicly, demonstrating once again the attractiveness of our offering.

FNG: How do Finalto’s plug-and-play solutions benefit firms looking to become ODP compliant, and how is the local market responding to this need?

Dany: Finalto’s ODP solutions focus on ease and efficiency. As the FSCA increases specificity in their market deployment expectations, staying compliant can be challenging. We’ve invested significant resources to create a trusted, regulator-approved trading environment, offering peace of mind to our clients. By integrating our services and technology, firms meet ODP compliance requirements on an expedited timeline, avoiding red tape. This approach is crucial as the market mandates compliance for all players offering derivatives.

The local market has responded very positively. We had numerous conversations at FMAS with both local and global players recognizing the utility of our solutions. Many firms have started securing their ODP compliance through our services, while others scramble not to be left behind. Firms need ODP licenses to stay ahead, and I can guarantee you that Finalto offers the most efficient path to get there.

FNG: What would you say to executives and decision-makers who are still looking for an in-house or alternative solution to staying ODP compliant?

Dany: The regulator’s message is clear: act now. The market is evolving rapidly, and delaying could mean losing competitive advantage. We are lucky to have an exceptionally skilled global compliance department working daily to stay on top of changing expectations. For companies unable to divert the same significant resources to this, it might not be worth the headache. With Finalto, firms have a reliable partner to navigate ODP compliance efficiently and effectively. The interest we’ve received at FMAS for our solutions underscores the urgency for brokers to keep pace.

FNG: What are the next steps for Finalto in the South African market following your success at FMAS?

Dany: We will continue to enhance our offerings such as our White Label solutions and provide unparalleled support to our clients in achieving compliance and operational excellence. Our focus remains on staying ahead of regulatory changes and market demands, ensuring our clients have the best tools and solutions available. We’re committed to helping firms succeed in this evolving landscape and are excited about the opportunities that lie ahead.

For any questions related to how Finalto ODP solutions can benefit you or for more general inquiries with Dany, please email dany.mawas@finalto.com.