Invast Securities Buys FX Client Base of Star-Kawasa & Mita Securities
Japanese Broker Invast Securities announced that it will purchase the client base of Star-Kawase Securities and Mita Securities. The deal will strengthen Invast’s client exposure among multiple asset classes, as the acquired brokers were servicing the Click 365, Kabu 365, and OTC FX markets. (Click 365 and Kabu 365 are the exchange traded FX and Equity Index product lines of the Tokyo Financial Exchange.)
According to Takeshi Kawaji, President and CEO of Invast Securities, “Star has about $350 million of clients deposit, and Mita has about US$72 million. After this transaction, with US$654 million of Invast deposit, Invast will become a broker with clients deposit of over US$1 billion.” The news follows a July announcement from Invast that they hit 20,000 accounts using the Mirror Trader from Tradency.
Check Point Software Technologies Ltd. has announced that FXCM has deployed the Check Point 12000 and 4000 series appliances to secure the link between its data centers, headquarters, remote offices and liquidity sources. Check Point 12000 and 4000 series appliances are based on the Check Point Software Blade Architecture and provide FXCM with a mix of flexibility, high-performance throughput and multi-layered protection in a comprehensive and cost-effective package, the company said.
“Check Point’s security solution enables our entire network stack to operate in a single ecosystem,” said Ryan Leonard, director of production engineering at FXCM.
FXCM publishes Lucid Markets’ P&L for 2009-2011
In June 2012 FXCM acquired a controlling stake in Lucid Markets, a leading institutional forex market maker, valuing the company at US$177.5m. Structure of the deal: FXCM acquired a 50.1% controlling interest in LMT, an electronic market maker and trader in the institutional foreign exchange spot and futures markets headquartered in the U.K. to expand the Company’s presence and capabilities in the institutional marketplace.
The Company issued a US$71.4 million, 3.5% unsecured promissory note, and 9.0 million unregistered shares of the Corporation’s Class A common stock to Lucid sellers as well as a US$15.8 million, 3.5% unsecured promissory note for all liquid assets for a total purchase price of US$177.5 million.
The Dow Jones-FXCM U.S. Dollar Index is 0.14 percent higher from the open after moving 57 percent of its average true range, and we may see the dollar hold above the 10,000 figure over the next 24-hours of trading as risk sentiment tapers off ahead of the Jackson Hole Economic Symposium.
As the recent batch of data coming out of the world’s largest economy instills an improved outlook for growth, the Fed may sound less dovish going forward, and we may see a sharp reversal in the index should the Fed maintain its current policy in September. However, as the US Dollar struggles to trade back within the upward trending channel from earlier this month, former trendline support may act as new resistance, and we may see a very choppy reaction to the central bank conference as current traders go offline ahead of the holiday weekend.