Breaking: Trade.io Acquires Primus Capital Markets UK
- After successfully raising over $30 million, the team behind trade.io rebrands the FCA brokerage to TIO Markets.
Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term trade.io has just announced that it acquired an FCA brokerage company. The firm’s name is Primus Capital Markets UK, it holds an IFPRU 125K matched principal license from the UK regulator.
The deal comes as a reaffirmation of trade.io to eventually become a one-stop shop for multi-asset trading. The company will use the new acquisition to extend its product offering.
The deal comes at a stressful time for EU-regulated brokers. The leverage changes introduced by the ESMA in August have materially affected the sector. Some brokerages have experienced a dramatic decline in trading volumes.
Primus Capital Markets UK Founders and trade.io Advisors
One point worth mentioning is that a part of the team which was at the core of Primus Capital Markets has been advising trade.io. The CEO and Executive Director of the FCA-regulated brokerage, Damian McDowell, is also on the board of the successful ICO project.
Trade.io managed to raise over $30 million at the beginning of the year. The company positions the acquisition as a strategic move that solidifies the firm’s regulatory status in Europe.
The rebranding of Primus Capital Markets UK to TIO Markets makes the brokerage one that offers FX trading using crypto assets as a base currency. Clients of the company will initially be able to deposit and withdraw using Bitcoin, Ethereum, Litecoin, and trade.io's own token TIOx.
The clients f the brokerage which is using TIOx will be offered a list of incentives. Those include commission discounts, tighter spreads and more.
Commenting on the deal, the CEO of trade.io, Jim Preissler, said: “The acquisition of Primus Capital Markets will allow the company the opportunity to aggressively expand into the UK and the European region.”
“At the same time, with an FCA regulated business, it provides management the opportunity to display to our clients we are striving for a higher standard and welcoming regulation instead of avoiding it,” Preissler added.
Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term trade.io has just announced that it acquired an FCA brokerage company. The firm’s name is Primus Capital Markets UK, it holds an IFPRU 125K matched principal license from the UK regulator.
The deal comes as a reaffirmation of trade.io to eventually become a one-stop shop for multi-asset trading. The company will use the new acquisition to extend its product offering.
The deal comes at a stressful time for EU-regulated brokers. The leverage changes introduced by the ESMA in August have materially affected the sector. Some brokerages have experienced a dramatic decline in trading volumes.
Primus Capital Markets UK Founders and trade.io Advisors
One point worth mentioning is that a part of the team which was at the core of Primus Capital Markets has been advising trade.io. The CEO and Executive Director of the FCA-regulated brokerage, Damian McDowell, is also on the board of the successful ICO project.
Trade.io managed to raise over $30 million at the beginning of the year. The company positions the acquisition as a strategic move that solidifies the firm’s regulatory status in Europe.
The rebranding of Primus Capital Markets UK to TIO Markets makes the brokerage one that offers FX trading using crypto assets as a base currency. Clients of the company will initially be able to deposit and withdraw using Bitcoin, Ethereum, Litecoin, and trade.io's own token TIOx.
The clients f the brokerage which is using TIOx will be offered a list of incentives. Those include commission discounts, tighter spreads and more.
Commenting on the deal, the CEO of trade.io, Jim Preissler, said: “The acquisition of Primus Capital Markets will allow the company the opportunity to aggressively expand into the UK and the European region.”
“At the same time, with an FCA regulated business, it provides management the opportunity to display to our clients we are striving for a higher standard and welcoming regulation instead of avoiding it,” Preissler added.