FCA-regulated online retail brokerage Tickmill has just announced a new acquisition deal. The company has agreed to buy a majority stake in Cypriot brokerage Vipro Markets.
As part of the deal, Tickmill will inject $2.2 million into the share capital of Vipro Markets. The deal comes on the heels of increased scrutiny on the retail trading industry across the European Union.
Tickmill Group will add a new license to its portfolio, since Vipro Markets is regulated by the Cyprus Securities and Exchange Commission. Aside from expanding the client base of the group, the deal is likely to insulate Tickmill from a hard Brexit scenario.
This is an exciting new chapter for Tickmill and one that will open up many opportunities to create extra value for clients of both of the companies. Tickmill has become a globally recognised broker among smart algorithmic traders and I am confident that the existing clients of Vipro Markets will very much appreciate being part of a bigger and stronger Tickmill Group which will deliver new products and services at a much faster pace under our regulated entities in the United Kingdom, Cyprus and Seychelles.
Posted on: 27/09/2017