This June, the Swiss arm of Dukascopy Bank informed its Japanese clients that it is terminating its business in the country. It has now been revealed that the firm is going back to Japan, as Dukascopy Bank has just confirmed it is taking over the Japanese Type-1 licensed broker Alpari Japan K.K.
Alpari Japan K.K. will shortly be renamed Dukascopy Japan K.K. and will offer forex trading through Dukascopy’s proprietary trading technology. Japanese clients will have direct access through the JForex platform to the same price feed and liquidity as all other clients of the Dukascopy Group. The restart of operations is expected by October 2015.
Andre Duka, co-CEO and CTO of Dukascopy Bank commented: “For a long time we have been expecting such opportunity to step in the Japanese forex market, the largest in the world. We are impressed by the commitment and professionalism of Alpari Japan’s team who knows the business and the Japanese market very well. This team is clearly the main asset of the deal and allows us to see bright prospects to our operations in Japan.”
By acquiring Alpari Japan K.K., Dukascopy Group says it plans to double its trading volume in the course of the next five years. For the last 3 years, average yearly volume growth was 14.3%, and in June 2015 monthly trading volume reached USD 65.2 billion.
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Shinji Tashiro, CEO of Alpari Japan commented: “We overcame difficulties and came back to the market. We are greatly honored to get a fresh start with the most sophisticated and worldwide platform – JForex as a member of Dukascopy Bank in the first year right after the 150th anniversary of the establishment of diplomatic relations between Japan and Switzerland. I believe JForex could be the exciting news to the traders in Japan.”
Dukascopy Bank revealed back in January 2015 that it is looking into acquisition targets, issuing an announcement that it is aiming to purchase the Japanese unit under Alpari UK, which is under special administration by KPMG.
From now on, Dukascopy Group consists of three institutions in high standard regulated jurisdictions – Switzerland, European Union, Japan plus Dukascopy Payments – EU licensed payment/e-money institution. Dukascopy Group says it is continuing its expansion and in the near future will announce new subsidiaries of the bank.
Dukascopy Japan expects to maintain the current team and management structure of Alpari Japan. Vagrams Sayadovs, Vice-President and Chief of Institutional Services of Dukascopy Bank will seat at the board of Directors in replacement of Alpari’s (UK) representative.