Update on CMS Forex situation: acquisition didn't go through
Following my post that was talking about a possible acquisition of CMS Forex by either Gain or IG, as expected, stirred lots of discussion in the industry. In fact, many people called me to confirm or deny that rumor.
CMS 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, being the very open company that they are, refused to comment on that story or even get back to me on my emails. The only official reply I could find was this laconic answer by CMS Forex's CEO Vera Hawkin to fxstreet Francesc's question regarding this story: “I confirm, that the rumors about CMSFX being acquired are not true”. There you have it.
So I had to launch another investigation in order to confirm or refute this rumor. It seems that following the publication of this story more people were now interested in talking about this and it would appear that CMS Forex has rejected all offers (perhaps they weren't what it expected) and at this point in time remains independent. In the bidding process that place were involved all the large US and UK firms and if they couldn't offer CMS Forex the right price, I'm not sure who can. Perhaps CMS should reconsider the whole idea of selling or compromise on the price.
Following my post that was talking about a possible acquisition of CMS Forex by either Gain or IG, as expected, stirred lots of discussion in the industry. In fact, many people called me to confirm or deny that rumor.
CMS 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, being the very open company that they are, refused to comment on that story or even get back to me on my emails. The only official reply I could find was this laconic answer by CMS Forex's CEO Vera Hawkin to fxstreet Francesc's question regarding this story: “I confirm, that the rumors about CMSFX being acquired are not true”. There you have it.
So I had to launch another investigation in order to confirm or refute this rumor. It seems that following the publication of this story more people were now interested in talking about this and it would appear that CMS Forex has rejected all offers (perhaps they weren't what it expected) and at this point in time remains independent. In the bidding process that place were involved all the large US and UK firms and if they couldn't offer CMS Forex the right price, I'm not sure who can. Perhaps CMS should reconsider the whole idea of selling or compromise on the price.