Tradency, the technology developer behind the popular Mirror Trader copy trading platform and provider of advanced services to financial institutions, has just announced to Forex Magnates the conclusion of a capital and business agreement with Invast Securities Co. Under the new agreement Invast will become a Tradency shareholder (14.99%), and the two companies will develop together the next stage of Invast’s Mirror Trader (ST24) system and service.
No detailed information was provided at this time on how much capital the Invast Securities had to provide in exchange for the developer’s stocks. Though the acquisition’s funds will be designated to develop Invast’s own system, it will be interesting to see how this deal may affect some of Tradency’s other Japanese partnerships, considering the fact that a company competing with all the other FX brokers in the country has now also become a partial owner of one of its platforms’ developer.
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The firm states that with the proceeds obtained from the equity deal, Tradency will further strengthen and widen its product line and business activities. The Mirror 360 which offers brokers a standalone solution, compiling of the Mirror Trader front-end and Mirror Server back office suite, will be further developed and marketed to brokers of all sizes. At the same time, Tradency will advance its key project of extending its Mirror Trader concept and service to additional assets markets starting with Futures and Stocks.
Invast launched ST24 in 2011, since then it has reached over 70,000 accounts by July 2014. The company says the newly signed alliance relies on the proven success of the ST24, and is a further reinforcement of the mutual benefits to be gained by the two companies.