Traders Holdings, a Japanese foreign exchange (FX) and securities trading service provider, has entered into a share exchange agreement, whereby unveiling plans to purchase Nextop Asia’s FX business, Finance Magnates has learned.
Nextop Asia is a Japanese developer of systems solutions for FX and contracts-for-difference (CFD) trading. The group and its subsidiaries deal with a variety of asset classes, including FX, CFDs, and binary options, with additional provisions for social trading capabilities that caters to a largely Japanese clientele and users in Asia.
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The terms of the deal were not presently disclosed, however the purchase itself is pending Nextop’s shareholder approval, which is slated to take place on November 5, 2015. Nextop’s decision to offload a portion of its FX business comes on the heels of a division that saw it separate its non-development business of FX trading from its Vietnam-based FX trading system. A subsequent agreement at the upcoming shareholders meeting could see the finalizing of a deal and share exchange by as early as December 1, 2015 – the deal will also see a transfer of all outstanding shares of common stock.
Tokyo-based Traders Holdings Co. and its network of subsidiaries provides FX, futures, and options trading services in Japan.