EXCLUSIVE: The Financial Commission Taps Tapaas to Supply Multiserver Real-time Data and Combat Trading Abuse

The FX and CFD industry has evolved significantly over the past twenty years. While technological advancement has contributed to its expansion, maintaining operational integrity has become increasingly complex. Having visibility only to individual brokerage data is no longer enough in a marketplace thriving on interconnectedness. Brokers, liquidity providers, and traders now operate in a closely connected environment where risk moves across firms as fast as it moves within them.

 In this context, Risk management means looking beyond individual brokerage data, but rather looking at the industry as a whole. The Financial Commission, an independent and external dispute resolution forum, understanding this broad market context, has recently inked a partnership with cross-broker risk management platform Tapaas.

This collaboration marks an important step for both organisations, strengthening their efforts in providing brokers with a transparent risk management framework that helps them identify and limit toxic flow before it becomes threatening.

By adding Tapaas to its Value-added Services (VAS) programme, the Financial Commission enhances its framework, offering broader access to cross-broker intelligence. This marks a pivotal shift in how financial institutions manage toxic flow and reduce cross-broker abuse.

According to a Financial Commission press release announcing the alliance, CEO Nicolai Isayev said, "The Financial Commission welcomes Tapaas to its Value-added services programme as part of its broader effort to support transparency, fair dispute resolution, and market integrity. Real-time trading analytics can help broker members better understand trading activity, identify risks, and maintain stronger internal controls in an increasingly complex trading environment.”

What the alliance means for brokers

Cross-broker abusive practices, such as bonus misuse and networked abuse, where traders organised in groups hold multiple trading accounts across different brokers and open opposing positions on the same instruments simultaneously, are some of the most frequent challenges facing modern brokers. According to self-reported data by Tapaas, 73% of the trading accounts maintained across several brokers were engaged in abusive activities. This figure becomes relevant as brokers grapple with increasingly sophisticated forms of abuse.

In light of this partnership, Financial Commission member brokers will gain instant access to:

• A granular view into trading behaviour and potential toxic flow (e.g., trading frequency, number of trading accounts, instruments, number and types of positions, and fingerprinting)
• Liquidity and risk exposure across order books
• A clear view of brokerage profitability in real time
• Structured data and instant alerts on potential abuse and latency arbitrage

Throughout the years, Tapaas has scanned millions of trading accounts and flagged 347,653 unique abusers across its network. With a capacity to analyse order flows and trading behaviours that today equates to roughly one-third of the global CFD volume, Tapaas provides a unified framework for dealing, risk, and compliance teams to identify and curb trading abuse in real time.

As part of the Financial Commission’s VAS programme, the platform broadens its outreach by further enhancing the independent forum’s framework centred on transparency and an unbiased review of evidence.

Cited by the Financial Commission in the same press release, Tapaas CEO Jonathan Squires added, “The Financial Commission’s work has been invaluable in a sector which is growing quickly and globally. We are happy to support their objectives for a fairer, more transparent ecosystem for both brokers and traders alike.”

 Brought together by shared values of transparency and fairness, Tapaas and the Financial Commission remain committed to creating an institutional framework that enables brokers to compete effectively and upscale while preserving a clear and real-time view of potential abuse and anomalous trading.

More information about Tapaas and its services is available at tapaas.com.

About Tapaas

Tapaas is a fintech company focused on real-time trading analytics and risk intelligence infrastructure for FX and CFD brokers. Its platform connects to a broker’s trading technology stack and processes data in real time to provide structured insight into exposure, execution quality, client behaviour, profitability, and trading patterns that may create risk or market integrity concerns.

Tapaas is built specifically for broker operations, supporting dealing desks, risk management, compliance, and operations teams with live intelligence designed to improve decision-making, strengthen internal controls, and support a more transparent trading environment.

About the Financial Commission

The Financial Commission is an independent external dispute resolution (EDR) forum for consumers/traders who are unable to resolve disputes directly with their financial services providers who are members of the Financial Commission. The Financial Commission initially set out to provide a new approach for traders and brokers alike to resolve any issues that arise in the course of trading electronic markets, such as Foreign Exchange, and then expanded into CFDs and related derivatives, in addition to certifying technology platforms used for trading.

In addition to its dispute resolution services, the Financial Commission provides approved members with access to a range of membership benefits, certifications, and value-added services through its network of industry partners.