Australian online trading platform AxiCorp has agreed to acquire UK-based One Financial Markets (OFM) for an undisclosed sum.
Estbalished in 2007, AxiCorp is an Australian-owned Forex (FX) and contracts or difference (CFD) trading provider.
Established in London in 2007, C B Financial Services (trading as One Financial Markets) is authorized and regulated in the UK by the Financial Conduct Authority (FCA) and in South Africa by the Financial Sector Conduct Authority.
It provides trading facilities to retail and institutional investors in forex and CFDs on indices, commodities, energies, bonds and futures.
The firm is also established in 2007, and is authorised and regulated in the UK by the Financial Conduct Authority, the Financial Sector Conduct Authority in South Africa.
In addition, the company has wholly owned entities based in Hong Kong and Dubai, which are regulated by the local regulatory body.
AxiCorp chief executive Rajesh Yohannan said: “We established AxiCorp a decade ago to provide Australian FX and CFD traders with a home-grown option. Our clients now span the globe, so we see the acquisition of a London-based competitor as a milestone both for us and the industry as a whole.”
The acquisition will help AxiCorp to expand its operations into major markets such as the UK, Middle East and Asia.
As part of the deal, AxiCorp will acquire all the staff, operations and licenses of OFM. The deal is subject to customary regulatory approvals.
AxiCorp will hold the OFM brand, which carries out operations in the Middle East, Europe, South America and Central and South East Asia.
The deal will also allow majority shareholder and founder, Khalifa Butti Bin Omeir, the Chairman of diversified investment group KBBO Group, purchase an equity interest in AxiCorp.
OFM CEO Ashley Clarke said: “After building the OFM brand and network in several key markets, this (acquisition) is a great opportunity to get to the next level of growth. And it’s a privilege that we will be part of the global AxiCorp family as we pursue other markets.”
AxiCor is a global online trading platform for FX, CFDs, commodities and other financial instruments to retail and institutional clients across the globe
The company is regulated by governing authorities across the world, including The Australian Securities and Investment Commission (ASIC) in Australia, the FCA in the UK, thhe Financial Markets Authority (FMA) in New Zealand and The Dubai Financial Services Authority (DFSA) in Dubai.