FinTech Firm Point Nine Acquired by Mitsubishi UFJ Trust
- The Cypriot company will be renamed MUFG Investor Services FinTech once the acquisition is complete
Finance Magnates learned on Monday that post-trade solutions provider Point Nine has been acquired by Mitsubishi UFJ Trust and Banking Corporation (MUFJ).
The Cyprus-based firm, which works with both buy and Sell-Side Sell-Side Those in the financial industry involved with the production, marketing, and the sale of bonds, forex, stocks, and other financial instruments constitute the sell-side.Products and services produced by the sell-side are geared towards those who on the buy-side. You can think of the sell-side and buy-side like a coin, you cannot have one side without the other. The sell-side is comprised of individuals, firms, fintech companies, and market makers, who are responsible for providing liquidity in th Those in the financial industry involved with the production, marketing, and the sale of bonds, forex, stocks, and other financial instruments constitute the sell-side.Products and services produced by the sell-side are geared towards those who on the buy-side. You can think of the sell-side and buy-side like a coin, you cannot have one side without the other. The sell-side is comprised of individuals, firms, fintech companies, and market makers, who are responsible for providing liquidity in th Read this Term companies across the world, offers clients outsourced operations, processing and reporting for post-trade Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term.
Founded in 2002, the financial technology company currently works with almost 80 financial services firms, including hedge funds, asset managers, brokers, and banks.
In a statement published on its LinkedIn page late on Monday evening, the firm said that it entered into a share purchase agreement with MUFJ on June 7.
"Unparalleled industry leader in Japan"
MUFJ issued a separate statement in which they said Point Nine would be renamed MUFG Investor Services FinTech Limited once the acquisition has been completed.
That same statement also gave some indication as to why the Japanese banking giant decided to acquire Point Nine.
“The Asset Management & Investor Services Divisions of the Trust Bank, aim to become an ‘unparalleled industry leader in Japan as well as a global player boasting significant presence overseas,’ said the firm’s statement.
“In order to achieve this goal, MUFG has been pursuing growth, centered around [MUFJ], through inorganic investment, as well as enhancing its investor services capabilities and competitiveness.”
MUFJ is currently the largest investor services company in the Asia and Oceania region.
Along with regular banking solutions, the Japanese company offers a disparate set of services, including an asset management offering, inheritance services, and a stock transfer agency.
Finance Magnates learned on Monday that post-trade solutions provider Point Nine has been acquired by Mitsubishi UFJ Trust and Banking Corporation (MUFJ).
The Cyprus-based firm, which works with both buy and Sell-Side Sell-Side Those in the financial industry involved with the production, marketing, and the sale of bonds, forex, stocks, and other financial instruments constitute the sell-side.Products and services produced by the sell-side are geared towards those who on the buy-side. You can think of the sell-side and buy-side like a coin, you cannot have one side without the other. The sell-side is comprised of individuals, firms, fintech companies, and market makers, who are responsible for providing liquidity in th Those in the financial industry involved with the production, marketing, and the sale of bonds, forex, stocks, and other financial instruments constitute the sell-side.Products and services produced by the sell-side are geared towards those who on the buy-side. You can think of the sell-side and buy-side like a coin, you cannot have one side without the other. The sell-side is comprised of individuals, firms, fintech companies, and market makers, who are responsible for providing liquidity in th Read this Term companies across the world, offers clients outsourced operations, processing and reporting for post-trade Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term.
Founded in 2002, the financial technology company currently works with almost 80 financial services firms, including hedge funds, asset managers, brokers, and banks.
In a statement published on its LinkedIn page late on Monday evening, the firm said that it entered into a share purchase agreement with MUFJ on June 7.
"Unparalleled industry leader in Japan"
MUFJ issued a separate statement in which they said Point Nine would be renamed MUFG Investor Services FinTech Limited once the acquisition has been completed.
That same statement also gave some indication as to why the Japanese banking giant decided to acquire Point Nine.
“The Asset Management & Investor Services Divisions of the Trust Bank, aim to become an ‘unparalleled industry leader in Japan as well as a global player boasting significant presence overseas,’ said the firm’s statement.
“In order to achieve this goal, MUFG has been pursuing growth, centered around [MUFJ], through inorganic investment, as well as enhancing its investor services capabilities and competitiveness.”
MUFJ is currently the largest investor services company in the Asia and Oceania region.
Along with regular banking solutions, the Japanese company offers a disparate set of services, including an asset management offering, inheritance services, and a stock transfer agency.