Go Markets Income Soars Before AIP Investment

In its last yearly financial report before AIP acquired a controlling stake in Go Markets, the broker’s filing with the ASIC ASIC The Australian Securities and Investments Commission (ASIC) is the prime regulator in Australia for corporate, markets, financial services, and consumer credit. It is empowered under the financial service laws to facilitate, regulate, and enforce Australian financial laws. The Australian Commission was set up and is administered under the Australian Securities and Investment Commission Act of 2001. ASIC was initially the Australian Securities Commission based on the 1989 ASC Act. Initially, the The Australian Securities and Investments Commission (ASIC) is the prime regulator in Australia for corporate, markets, financial services, and consumer credit. It is empowered under the financial service laws to facilitate, regulate, and enforce Australian financial laws. The Australian Commission was set up and is administered under the Australian Securities and Investment Commission Act of 2001. ASIC was initially the Australian Securities Commission based on the 1989 ASC Act. Initially, the Read this Term showed revenues increasing to $8,637,755 from $4,886,832, a 76% increase (figures are in AUD). Net income for the year was $402,415 versus $213,060.

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 was able to obtain the Go Market’s 2011 financial report filed with ASIC. The report sheds light on the size of business AIP was buying when they made their February investment into Go Markets. The report confirms the growth taking place in Australia and why the country has seen such an influx of M&A activity in the Forex market.

Notable highlights from the report include: (2011 vs 2010)

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Not included in the results were client trading volumes (In our Q2 quarterly report we estimated monthly volumes of $25 billion). Revenues were relatively low comparing to what is expected from such volume.

While financial figures for what AIP paid for their controlling stake in Go Markets, and what valuation the deal put on the broker are unavailable, AIP’s Global CEO Yuhi Horiguchi did grant Forex Magnates an interview for our Q2 report. Horiguchi stated that AIP viewed the acquisition of Go Markets as “opportunistic” rather than strategic. He also mentioned that AIP was planning to increase value in Go Markets by adding additional trading products and expanding the broker’s presence in additional markets. On this note, Horiguchi said that “the company (Go Markets) was recently valued at over USD$60M which shows that we have thus far been able to rapidly restructure and add more value to the business.”

Recent additions to Go Markets products include the launching of CFDs and Pro accounts in May.