Gaitame Completes Acquisition of Live Star Securities’ FX Business

The Tokyo-based broker said that it made the takeover to broaden its customer base.

Japanese foreign exchange broking giant Gaitame said today that it has completed the acquisition of FX business of retail broker Livestar Securities Co. Ltd. FX clients as the medium-sized online brokerage will see their positions and deposits relocating to Gaitame as of September 28, 2020.

The Tokyo-based broker said that it made the takeover to broaden its customer base and bolster its strategic position as competition intensifies in Japan’s retail sector.

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“In addition, we will continue to use the login ID and password of the current LiveStar Securities FX system. Further details will be posted on our website and Live Star Securities website at any time,” the company further explains.

Gaitame’s clients had transacted a total of ¥297.2 billion last month, which was nearly eight percent in decline from the previous month’s numbers. The brokerage reported record volumes for March when the COVID-19-induced market volatility pushed the activities across the trading platforms – Gaitame posted a transaction volume of ¥553.4 billion for the month.

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On a year-on-year level, Gaitame July 2020’s volume increased by 107.6 percent as the total transactions on the platform on the same month last year was ¥143 billion.

Though the buyout was carried out by Gaitame parent Compagnie Financière Tradition, a multi-asset interdealer broker listed on the Swiss SIX under ticker CFT, from Livestar parent IS Holdings Co. Ltd.

The other parts of Livestar Securities’ business were acquired by SBI Holdings, the owner of Japanese retail broker SBI Securities, in a deal that was believed to be valued in billions of yen. The transaction, which saw roughly 180,000 retail accounts transferred to SBI Holdings, was the first M&A in Japan’s online brokerage sector in many years.

SBI is the owner of Japan’s first digital bank and largest online brokerage. The company is listed on the Tokyo Stock Exchange and is a member of the TOPIX stock index.

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