Phillips Capital enters Turkish and Indian markets
Leading Asian derivatives broker Phillip Capital has ended the first quarter of 2012 with the acquisition of MF Global India and the purchase of Istanbul based HAK MENKUL KIYMETLER A.Ş.
Phillips Securities is Singapore's largest derivatives broker with operations across Asia. The move into India and Turkey is very strategic in relation to the groups objectives of expanding their global foot print.
MF Global took over Refco's India operations when Refco went under problems. Phillip Capital and MF Global Sify Securities India Private Limited are pleased to announce that they had on 27th March, 2012 entered into a Share Purchase Agreement, under which the Group will acquire a majority stake of the Company from MF Global Overseas Limited and Sify Technologies Limited. The Company will be renamed as Phillip Securities India Private Limited. In addition, Phillip Capital had also entered into a separate agreement for the acquisitions on all the other MF Global India operations.
Turkey's financial regulator has introduced legalities for brokers offering margin FX in the summer of 2011. The move came after 3 years of bureaucracy by the Capital Market Board. Turkey was one of the largest non-regulated FX markets with trade volumes in excess of $20 billion a day.
Phillip Capital has acquired Turkish broker HAK MENKUL KIYMETLER A.Ş. (“HAK”), a securities and futures brokerage firm based in Istanbul, Turkey. This acquisition further extends it's reach of markets, and will allow the Group to tap into the growth of the capital markets in Turkey and the region.
With this acquisition, PhillipCapital now operates in 13 countries in Asia, Australia, Europe and the United States. This is in line with the Group’s objective of providing a wider range of financial products and services for its customers.
Founded in 1990 and a pioneer in Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term, HAK is a member of both the Istanbul Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term and the Turkish Derivatives Exchange. The company also holds a minority stake in Takasbank A.Ş., the central clearing and settlement bank.
Forexmagnates team have written a detailed report on the state of FX in Turkey, available in the Q3 quarterly report 2011.
Leading Asian derivatives broker Phillip Capital has ended the first quarter of 2012 with the acquisition of MF Global India and the purchase of Istanbul based HAK MENKUL KIYMETLER A.Ş.
Phillips Securities is Singapore's largest derivatives broker with operations across Asia. The move into India and Turkey is very strategic in relation to the groups objectives of expanding their global foot print.
MF Global took over Refco's India operations when Refco went under problems. Phillip Capital and MF Global Sify Securities India Private Limited are pleased to announce that they had on 27th March, 2012 entered into a Share Purchase Agreement, under which the Group will acquire a majority stake of the Company from MF Global Overseas Limited and Sify Technologies Limited. The Company will be renamed as Phillip Securities India Private Limited. In addition, Phillip Capital had also entered into a separate agreement for the acquisitions on all the other MF Global India operations.
Turkey's financial regulator has introduced legalities for brokers offering margin FX in the summer of 2011. The move came after 3 years of bureaucracy by the Capital Market Board. Turkey was one of the largest non-regulated FX markets with trade volumes in excess of $20 billion a day.
Phillip Capital has acquired Turkish broker HAK MENKUL KIYMETLER A.Ş. (“HAK”), a securities and futures brokerage firm based in Istanbul, Turkey. This acquisition further extends it's reach of markets, and will allow the Group to tap into the growth of the capital markets in Turkey and the region.
With this acquisition, PhillipCapital now operates in 13 countries in Asia, Australia, Europe and the United States. This is in line with the Group’s objective of providing a wider range of financial products and services for its customers.
Founded in 1990 and a pioneer in Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term, HAK is a member of both the Istanbul Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term and the Turkish Derivatives Exchange. The company also holds a minority stake in Takasbank A.Ş., the central clearing and settlement bank.
Forexmagnates team have written a detailed report on the state of FX in Turkey, available in the Q3 quarterly report 2011.