July 17, 2019, | AtoZ Markets - An FCA regulated FX broker LMAX Global has received approval from the Cyprus Securities and Exchange Commission (CySEC) to acquire CB Capital Business Ltd, regulated by the Cypriot financial authority.
LMAX Global is set for expansion
Global as a part of the LMAX Exchange Group, is a trading name of LMAX Broker Limited which is authorized and regulated by the Financial Conduct Authority and registered in England and Wales. CB Capital Business ltd is a CySEC regulated broker.
Through the acquisition of CB Capital Business ltd, LMAX intends to expand its presence in the different regions. After the deal is completed CB Capital Business ltd will be renamed to LMAX Broker Europe ltd and LMAX Global will be able to build out and provide a better service to its institutional and intermediary clients based in Southern Europe, Cyprus and the Middle East.
As per media reports, the company will offer the enhanced provision of firm order-driven liquidity to brokers and institutional market participants in these core growth markets.
LMAX Global officials are commenting on the CB Capital Business ltd acquisition
David Mercer, David Mercer, Chief Executive of LMAX Exchange Group, called the recent deal and an important step for the company to expand their institutional client offering across Southern Europe, the Middle East and further afield. Mercer noted:
“As our Asia and US-based businesses continue to thrive, it was clear that Southern Europe and the Middle East should be the next areas of focus for us in terms of growth.
This deal ensures that following the Brexit outcome our services will remain unaffected, whilst giving us the ability to serve clients in newly established markets. We look forward both to improving our current institutional offering, as well as connecting with new businesses in the region.”
Currently, LMAX Exchange Group services customer in over 100 countries throughout its eleven offices in the UK, US, EU and the Asia Pacific.
David Mercer concluded, that they ”fully expect a controlled extension of our international footprint in the years ahead in line with our exceptional growth making us one of the most efficient FX operators in the industry.”
According to the company’s statement, the transaction is part of the brokerage firm’s expansion strategy so that it can provide better market access to its clients.
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