ABK Holding JSC, which operates multiple brands in the trading industry, is moving to acquire London-based boutique broker, Cresco Capital Markets (UK) Ltd, known by its tradename CrescoFX, the companies told Finance Magnates exclusively.
ARK Co-Founders, Murat Kutay Yildirim and Gokalp Icer have already conditionally agreed upon the terms of the acquisition deal, which is now pending the UK’s Financial Conduct Authority’s approval. However, the companies did not reveal the financials involved in the deal.
Founded in 2011, CrescoFX termed itself as a ‘boutique broker’ serving both retail and institutional traders. It gained a license from the British financial market regulator in 2017 and is offering trading services with CFDs of forex, commodities, equities and other asset classes.
Trade Capital Holdings (TCH), which operates leading brokerage brands such as TRADE.com, has acquired Spanish online broker ActivoTrade, thus further expanding its investment brands, Finance Magnates has learned exclusively.
Regulated by the National Securities Market Commission, locally known as Comisión Nacional del Mercado de Valores (CMNV), ActivoTrade is one of the largest Spanish brokerage platforms. It has handled over 100 billion euros in trading volume since its establishment around a decade ago.
Commenting on the acquisition deal, Roei Gavish, Managing Director of Trade Capital Holdings, said: “The acquisition of ActivoTrade fits neatly into TCH’s overall strategy to offer professional and customized access to the trading and investing arena for all trader profiles.”