Breaking: Playtech Delves into B2B Services, Buys CFH Group for $120m
- CFH’s revenue and adjusted EBITDA as of 31 December 2015 was $19.2m and $5.7m respectively.
Gaming and retail broking giant Playtech has just ventured deeper into the financial space. The company, whose biggest shareholder is Israeli billionaire Teddy Sagi, has just announced that it is purchasing CFH Group for $120 million.
The news comes as a surprise to the industry, since up until now Playtech has been focused on retail financial trading. By purchasing CFH Group, the company is taking a turn in whole new direction.
Last year the company unsuccessfully attempted to purchase retail brokers AvaTrade and Plus500. The deals were both scrapped after both the Bank of Ireland and the U.K. Financial Conduct Authority denied approval.
The deal has already been approved by the FCA with the change of control process of CFH Group. The company's financials division is starting to implement the transition plans immediately.
Playtech states in its announcement that it has already developed a B2B offering within its financials division. Playtech is committed to continuing the development and the offering of a fully Straight Through Processing (STP) brokerage model that is sending client trades onto the broader market. Retail broker clients of Playtech (CFH Group) are going to get multi-asset execution, prime brokerage services, Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term tools.
According to the official announcement, CFH’s revenue and adjusted EBITDA for the year ended 31 December 2015 was $19.2 million (€17.6m) and $5.7 million (€5.2m) respectively. The company's annual revenue run rate was $29.0m (€26.6 million), owing to an increase in trading volumes from continuing organic growth of client acquisition and the business as a whole.
Gaming and retail broking giant Playtech has just ventured deeper into the financial space. The company, whose biggest shareholder is Israeli billionaire Teddy Sagi, has just announced that it is purchasing CFH Group for $120 million.
The news comes as a surprise to the industry, since up until now Playtech has been focused on retail financial trading. By purchasing CFH Group, the company is taking a turn in whole new direction.
Last year the company unsuccessfully attempted to purchase retail brokers AvaTrade and Plus500. The deals were both scrapped after both the Bank of Ireland and the U.K. Financial Conduct Authority denied approval.
The deal has already been approved by the FCA with the change of control process of CFH Group. The company's financials division is starting to implement the transition plans immediately.
Playtech states in its announcement that it has already developed a B2B offering within its financials division. Playtech is committed to continuing the development and the offering of a fully Straight Through Processing (STP) brokerage model that is sending client trades onto the broader market. Retail broker clients of Playtech (CFH Group) are going to get multi-asset execution, prime brokerage services, Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term tools.
According to the official announcement, CFH’s revenue and adjusted EBITDA for the year ended 31 December 2015 was $19.2 million (€17.6m) and $5.7 million (€5.2m) respectively. The company's annual revenue run rate was $29.0m (€26.6 million), owing to an increase in trading volumes from continuing organic growth of client acquisition and the business as a whole.