Exclusive: FXDD Close to Acquiring Boston Technologies
- Following the disposal of its US client base, FXDD is looking for some acquisitions to strengthen its position in the rest of the world, multiple sources confirm the company to be the most likely new owner of BT.
As most of our regular readers have gathered, there have been some serious shifts going on in the US foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term space in the past couple of days. Just yesterday, Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates brought to your attention the news that FXCM will be acquiring FXDD’s US-based client accounts. We can follow up today by breaking the news that the resources which FXDD obtains through the deal might be put to good use for acquisitions. Despite the sale of its US clients portfolio, the company is nowhere close to leaving the retail foreign exchange business.
Their most likely acquisition target - Boston Technologies. As the company has been growing steadily for many years to eventually reach a revenue stream totalling $ 20 million, its success has drawn constant attention, as sources close to the matter have confirmed to Forex Magnates that FXDD is holding talks to acquire Boston Technologies.
After a resolution to an ownership dispute back in February between the founders of BT - Kevin Millien and George Popescu, the case was resolved with a court order mandating Mr. Millien to transfer one share to Mr. Popescu making him the majority owner of the company. Could an acquisition be what's next on the line?
Following a number of negotiations conducted in the past couple of weeks, Forex Magnates’ sources state that the best offer for one of the first companies to provide bridging technology connecting the MetaTrader 4 platform to the interbank market and offer its Start Your Own Brokerage (SYOB) platform solutions, is most likely coming from FXDD.
Forex Magnates' reporters contacted Boston Technologies to follow-up with some details surrounding the possible deal. BT's CEO, George Popescu stated, "Since the founding of the company we have received at least once a week an investment or acquisition offer. This is nothing new, and as soon as something is certain we will make sure to inform the public as soon as possible."
As we look towards the benefits that FXDD can extract from the deal, we have to mention their own fully owned unit dedicated to developing and providing retail FX technology, Forexware. Since the products offered by the company are similar, there are quite a few potential synergies between the firms to bring additional value to FXDD's SYOB solution which makes such a deal quite sensible.
As most of our regular readers have gathered, there have been some serious shifts going on in the US foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term space in the past couple of days. Just yesterday, Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates brought to your attention the news that FXCM will be acquiring FXDD’s US-based client accounts. We can follow up today by breaking the news that the resources which FXDD obtains through the deal might be put to good use for acquisitions. Despite the sale of its US clients portfolio, the company is nowhere close to leaving the retail foreign exchange business.
Their most likely acquisition target - Boston Technologies. As the company has been growing steadily for many years to eventually reach a revenue stream totalling $ 20 million, its success has drawn constant attention, as sources close to the matter have confirmed to Forex Magnates that FXDD is holding talks to acquire Boston Technologies.
After a resolution to an ownership dispute back in February between the founders of BT - Kevin Millien and George Popescu, the case was resolved with a court order mandating Mr. Millien to transfer one share to Mr. Popescu making him the majority owner of the company. Could an acquisition be what's next on the line?
Following a number of negotiations conducted in the past couple of weeks, Forex Magnates’ sources state that the best offer for one of the first companies to provide bridging technology connecting the MetaTrader 4 platform to the interbank market and offer its Start Your Own Brokerage (SYOB) platform solutions, is most likely coming from FXDD.
Forex Magnates' reporters contacted Boston Technologies to follow-up with some details surrounding the possible deal. BT's CEO, George Popescu stated, "Since the founding of the company we have received at least once a week an investment or acquisition offer. This is nothing new, and as soon as something is certain we will make sure to inform the public as soon as possible."
As we look towards the benefits that FXDD can extract from the deal, we have to mention their own fully owned unit dedicated to developing and providing retail FX technology, Forexware. Since the products offered by the company are similar, there are quite a few potential synergies between the firms to bring additional value to FXDD's SYOB solution which makes such a deal quite sensible.