ACY Capital Group, an Australia-based forex and contract for difference (CFD) brokerage, announced today that it has acquired Synergy Financial Markets (Synergy FX), which is also a forex and CFD broker.
Synergy FX was established in 2011 in Sydney, Australia. With the acquisition, the firm will be integrated into ACY’s forex and CFD business, which provides forex, CFD and education to institutional and retail traders, whilst still maintaining the Synergy FX brand.
Commenting on the acquisition, Jimmy Ye, Director of ACY Capital Group, said: “Technology and education are keys for businesses in financial and derivative industry. Acquiring Synergy FX represents an important opportunity for the group to grow our footprint globally and especially hometown Australia.
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Combining Synergy FX’s impressive track record with ACY Capital’s in-house capabilities in financial insight, demand management and state of art technology and education puts us in a unique position to assist more institutions and retail traders to take advantage of the changing derivative industry.”
Christian Dove, CEO of Synergy FX, added: “Our team is excited to join ACY Capital Group. We believe access to ACY Capital’s scale, multi-technology solutions, educations and strong balance sheet will help us deliver better solutions to our traders. We’re thrilled to be part of a dynamic multi-asset forex broker pioneer like ACY Capital Group.”
ACY Capital continues its expansion
ACY Capital has been focused on expanding its product this year. In March, Finance Magnates reported that the firm had integrated its service suite with Alibaba’s newly launched data centre in Indonesia.
The new Asian data centre offers ACY Capital a full suite of services, providing the flexibility to build its entire IT infrastructure for business on Alibaba Cloud and run mission-critical and core applications on it. Specifically, the move aimed to enhance the ASIC-regulated firm’s cloud-based trading engine, as well as helping it grow its retail and institutional client base within Indonesia.