NEW YORK, Dec. 3 /PRNewswire-Asia/ -- Choice of trading platform is crucial for growth, according to players in recent consolidation activities in the Forex space.
In October of 2008 the UK-listed company IG Group Holdings PLC ( http://www.iggroup.com ) acquired an 87.5 percent stake in Japanese online retail foreign exchange trading company FXOnline Japan KK (FXO, http://www.fxonline.co.jp ) for $260 million. Since 2004 FXO has been using the myForex trading platform provided by the US based software company FinaTek Services Corp ( http://finatek.com ). FinaTek CEO Anatoly Tkach commented on the transaction: "This was the second time FXO scored big, and again with our help. We signed FXO in December 2004 while they were serving as one of the local IBs for IFX in Japan. We provided them with the cutting edge myForex Trading Platform what allowed them to seamlessly switch from the IB to the Market Maker business model without increasing the market risk, but tremendously raising the profit margin. Our robust multilingual Platform had overwhelmingly attracted the traders' audience by its stability, ease of use, customizable look and feel, convenient and detailed reporting, ability to trade right from the chart, trade on the go, and many more amazing features. As a result, FXO was able to raise their client base almost ten-fold during the first year, and more than 30 times up until now."
In December of 2006, 44.97% of FXO stake was acquired by FinTech Global Incorporated and Mazuho Bank. According to FinTech CEO Nobumitsu Tamai, "FXO offered an ideal platform. The excellent operability and user-friendliness of FXO's platform helped to retain a support base of high-value trade users, placing the firm in the top class of the industry." Mr. Tamai makes it clear that our technology chosen by FXO resulted in FXO's success that in turn made it desirable for recent acquisition by IG.
Mr. Tkach adds: "We benefit from the IG/FXO transaction by licensing our Platform to IG, and thus demonstrating that our flexible and scalable technology solution is ready for big market players."
Other companies have also enjoyed success with FinaTek technology solutions. Since 1996 the founders of FinaTek (Alexander Ryvin, Anatoly Tkach, Andrew Sinitsyn) designed and supervised the development of proprietary trading platforms for leading industry players like MGFG (recently acquired by RCG), CMS (the first US based Forex dealer to successfully implement FinaTek's Platform in 2003; they raised their client base hundred-fold since that time), FXCM (which became the largest Forex dealer in the United States), CBFX (later on acquired by IFX, and recently by CityIndex), FXSolutions (recently acquired by CityIndex), and many more. All these companies have one thing in common: superior technology put them ahead of competition and allowed them to achieve astonishing growth patterns. This string of successes will likely continue as FinaTek comes out with more innovative products for Forex trading and more companies license this outstanding technology.
About FinaTek:
Since 1996 the founders of FinaTek (Alex Ryvin, Anatoly Tkach, Andrew Sinitsyn) were designing and supervising the development of proprietary trading platforms for the leading industry players like MGFG, FXCM , GCI, CBFX, and FXSolutions. In 2002 the FinaTek was formed and launched the next generation online trading platform for retail Forex market -- myForex Trading Platform -- for Capital Market Services. In 2004 FinaTek signed FXOnline Japan while they were serving as one of the local IBs for IFX in Japan.
