Rostro Group Acquires FX and CFDs Broker Scope Markets
- The financial terms of the deal were not disclosed.
- Talks on the deal started in 2021.
Scope Markets Group, one of the popular forex and CFDs trading brands, announced on Monday that it has been acquired by Roger Hambury’s Rostro Group in an all-cash deal. The deal will be funded with Rostro’s existing cash reserves, but the financial terms of it were not revealed.
Scope Markets operates globally with licenses obtained from several regulators, including the ones in Cyprus, Belize and Mauritius. Additionally, it is regulated in South Africa and is one of the very few regulated brokerage platforms in Kenya, which is considered to be one of Africa’s major untapped markets.
The broker serves retail and institutional clients and has been promoting its brand for years with a major sponsorship deal with an English football club, West Ham United.
“This acquisition is incredibly exciting and helps accelerate our ambition to build a new brand of multi-asset
Multi-Asset
Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically
Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically
Read this Term trading and investment firm, which will only be enhanced by the Scope Markets brand,” said Hambury, who founded Rostro in 2020.
“The opportunity presented itself in late 2021, and we jumped at the chance. We see the acquisition of Scope Markets as the first step in a journey to create a global fintech
Fintech
Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl
Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl
Read this Term operation, operating in multiple markets, supported by a strong balance sheet. We will continue to explore further bolt-on acquisitions, be it licenses, products or services, to further enhance our client offering.”
A Strategic Deal
The press release shared with Finance Magnates detailed that the acquisition deal was sealed as the services of Rostro and Scope were complementary to each other with little operational and market overlap.
Scope Markets Group’s CEO, Jacob Plattner said: “This is an exciting moment for Scope Markets and its shareholders. Our dedicated workforce has built a fantastic financial services organization. We have made financial markets accessible globally to clients, who have remained loyal, and we hope will continue to do so as we grow the Scope brand further under Rostro Group.”
Scope Markets Group, one of the popular forex and CFDs trading brands, announced on Monday that it has been acquired by Roger Hambury’s Rostro Group in an all-cash deal. The deal will be funded with Rostro’s existing cash reserves, but the financial terms of it were not revealed.
Scope Markets operates globally with licenses obtained from several regulators, including the ones in Cyprus, Belize and Mauritius. Additionally, it is regulated in South Africa and is one of the very few regulated brokerage platforms in Kenya, which is considered to be one of Africa’s major untapped markets.
The broker serves retail and institutional clients and has been promoting its brand for years with a major sponsorship deal with an English football club, West Ham United.
“This acquisition is incredibly exciting and helps accelerate our ambition to build a new brand of multi-asset
Multi-Asset
Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically
Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically
Read this Term trading and investment firm, which will only be enhanced by the Scope Markets brand,” said Hambury, who founded Rostro in 2020.
“The opportunity presented itself in late 2021, and we jumped at the chance. We see the acquisition of Scope Markets as the first step in a journey to create a global fintech
Fintech
Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl
Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl
Read this Term operation, operating in multiple markets, supported by a strong balance sheet. We will continue to explore further bolt-on acquisitions, be it licenses, products or services, to further enhance our client offering.”
A Strategic Deal
The press release shared with Finance Magnates detailed that the acquisition deal was sealed as the services of Rostro and Scope were complementary to each other with little operational and market overlap.
Scope Markets Group’s CEO, Jacob Plattner said: “This is an exciting moment for Scope Markets and its shareholders. Our dedicated workforce has built a fantastic financial services organization. We have made financial markets accessible globally to clients, who have remained loyal, and we hope will continue to do so as we grow the Scope brand further under Rostro Group.”