Like GAIN Capital Holdings, Inc.

on offer 4/9/2013 via BusinessWire

FXCM Inc., offer to acquire GAIN Capital Holdings, Inc.

synopsis: FXCM Inc., a leading online provider of foreign exchange, or FX, trading and related services, announced it is proposing to merge with and acquire GAIN Capital Holdings LLC., global provider of retail trading services. The combined company is expected to be an industry leader and accretive to all parties.
buyer: FXCM Inc. (GLBR:$417.32)
FXCM Inc. is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. "
target: GAIN Capital Holdings, Inc. (GCAP:$213.30)
GAIN Capital Holdings is a global provider of online trading services. Its innovative trading technology provides market access and highly automated trade execution services across multiple asset classes, including foreign exchange, contracts for difference (CFDs) and exchange-based products.
price ($mm)
$210
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 2/28/2020 via PR Newswire

INTL FCStone Inc., will acquire GAIN Capital Holdings, Inc.

synopsis: GAIN Capital Holdings, Inc., a US-based provider of online trading services, is to be acquired by INTL FCStone Inc., a financial services organization. GAIN provides market access and trade execution services in foreign exchange, contracts for difference and exchange-based products to retail investors.
buyer: INTL FCStone Inc. (INTL:$37,434.30)
INTL FCStone Inc., through its subsidiaries, is a leading provider of execution, risk management and advisory services, market intelligence, and clearing services across asset classes and markets around the world. "
target: GAIN Capital Holdings, Inc. (GCAP:$213.30)
GAIN Capital Holding provides innovative trading technology and execution services to retail and institutional investors worldwide, with multiple access points to OTC markets and global exchanges across a wide range of asset classes, including foreign exchange, commodities, and global equities.
price ($mm)[EV]
$236 [($746)]
rev ($mm)
$213
EBITDA ($mm)
EV / rev
-3.5x
EV / EBITDA
closed 12/4/2019 via BNC Analysis

GO Markets Pty Limited, acquired Galactus Ltd

synopsis: GO Markets, an Australian provider of online CFD trading services, has acquired Galactus Ltd, a Cyprus-based firm that provides global market access and understands concerns such as market unpredictability, security of funds and the issues that may arise for trading.
buyer: GO Markets Pty Limited
GO Markets is an Australian provider of online CFD trading services. They are always committed in refining their technology, tailored services and client education and have positioned themselves firmly as a trusted and leading Australian regulated broker. "
target: Galactus Ltd
Galactus is a Cyprus-based firm providing global market access. They understand concerns such as market unpredictability, security of funds and the issues that may arise for trading. Therefore, they rebuild traders’ confidence with clients’ perspective in mind to address the risks they face.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/14/2015 via GlobeNewswire

Rakuten Securities, Inc., acquired FXCM Asia Limited

synopsis: FXCM Inc., a leading online provider of foreign exchange (FX) trading and related services, announced the sale of FXCM Asia Limited ("FXCM Hong Kong") to Rakuten Securities, Inc. The company provides comprehensive blend of brokerage services to the retail investors.
buyer parent: Rakuten Inc.
buyer: Rakuten Securities, Inc.
Rakuten Securities, Inc. the Investment Professional of the Rakuten Group. They provide comprehensive blend of brokerage services to the retail investors. "
target parent: FXCM Inc.
target: FXCM Asia Limited
FXCM Asia was established to make forex trading services more accessible to their clients all over Asia. Through the Hong Kong office, FXCM Asia is able to provide a much higher level of service to their many valued Asian clients, and bring them personalized, face-to-face assistance and more.
price ($mm)
$38
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/1/2015 via PR Newswire

GAIN Capital Holdings, Inc., acquired City Index Group Limited

synopsis: GAIN Capital Holdings, Inc., a company that provides innovative trading technology and execution services to retail and institutional investors worldwide, announced that it has acquired City Index Limited, a leading online trading firm specializing in contracts-for-difference, forex and UK spread betting.
buyer: GAIN Capital Holdings, Inc. (GCAP:$213.30)
GAIN Capital Holdings provides innovative trading technology and execution services to retail and institutional investors worldwide, with multiple access points to OTC markets and global exchanges across a wide range of asset classes, including foreign exchange, commodities, and global equities. "
target parent: Intercapital Private Group Ltd.
target: City Index Group Limited
City Index (Holdings) Ltd. is a global provider of retail trading services including spread betting (UK only), CFDs and margin forex. The firm trades primarily under the City Index, Finspreads, FX Solutions and IFX Markets brands with core markets in the UK, Middle East and the Asia Pacific.
price ($mm)
$117
rev ($mm)
$125
EBITDA ($mm)
$11
EV / rev
0.9x
EV / EBITDA
11.0x
closed 5/30/2018 via Company Press Release

360T, acquired GTX Ltd.

synopsis: Deutsche Börse Group’s Foreign Exchange unit 360T is expanding its participation in the global FX market and presence in the US by acquiring the GTX ECN business from GAIN Capital Holdings Inc. GTX operates electronic trading venues and provides agency execution and clearing services for buy and sell-side institutional FX market participants.
buyer parent: Deutsche Börse Group
buyer: 360T
360T is the leading global provider of web-based trading technology. This best-in-class trading technology enables clients to trade OTC financial instruments, particularly foreign exchange (FX) and short term money market products, as well as FX and interest rate derivatives. "
target parent: GAIN Capital Holdings, Inc.
target: GTX Ltd.
GTX operates electronic trading venues and provides agency execution and clearing services for buy and sell-side institutional FX market participants.
price ($mm)
$100
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 3/13/2015 via BusinessWire

BATS Global Markets, Inc., acquired KCG Hotspot FX

synopsis: BATS Global Markets (BATS) completed its acquisition of Hotspot FX, a leading institutional foreign exchange (FX) market, from KCG Holdings. Hotspot FX brings the powerful benefits of an independent, transparent ECN marketplace structure to institutional foreign exchange trading.
buyer: BATS Global Markets, Inc. (BATS:$1,861.90)
BATS Global Markets, Inc. is a leading global operator of securities markets, committed to Making Markets Better for traders, investors and issuers. In the U.S., BATS operates four stock exchanges – BZX, BYX, EDGX and EDGA – and regularly ranks as the top market for ETF and retail-driven liquidity. "
target parent: KCG Holdings, Inc.
target: KCG Hotspot FX
Hotspot FX brings the powerful benefits of an independent, transparent ECN marketplace structure to institutional foreign exchange trading. These benefits include full depth-of-book view, centralized price discovery, direct and anonymous market access.
price ($mm)
$365
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/3/2006 via PR Newswire

Knight Capital Group, Inc., acquired Hotspot FX, Inc.

synopsis: Knight Capital Group, Inc. announced the completion of its acquisition of Hotspot FX, Inc., a privately held firm, in an all-cash deal for $77.5 million. Hotspot, which provides institutions and dealers with spot foreign exchange trade execution through an advanced, fully electronic platform, is a separate subsidiary of Knight Capital Group.
buyer: Knight Capital Group, Inc. (KCG:$1,211.64)
Knight Capital Group, Inc. is a global financial services firm that provides market access and trade execution services across multiple asset classes to buy- and sell-side firms. "
target: Hotspot FX, Inc.
Hotspot FX, Inc. operates a leading spot FX marketplace for institutions, in addition to a retail platform. Both marketplaces provide anonymous, instantaneous, direct access trading on live, executable, streaming prices supplied by leading foreign exchange banks and financial institutions.
price ($mm)
$78
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/31/2017 via BusinessWire

NYSE, acquired National Stock Exchange

synopsis: The New York Stock Exchange (NYSE), part of Intercontinental Exchange, announced that it completed its acquisition of the National Stock Exchange, Inc. (NSX), now renamed NYSE National, Inc. The National Stock Exchange, headquartered in Jersey City, NJ, offers trading in all US exchange-listed equities on its NSX BLADE® trading platform.
buyer parent: Intercontinental Exchange, Inc.
buyer: NYSE (NYX:$3,749.00)
NYSE Group is a subsidiary of Intercontinental Exchange, a leading operator of global exchanges and clearing houses, and a provider of data and listings services. NYSE Group includes exchanges, market data and connectivity services. "
target parent: CBOE Holdings, Inc.
target: National Stock Exchange
The National Stock Exchange (NSX), headquartered in Jersey City, NJ, offers trading in all US exchange-listed equities on its NSX BLADE® trading platform. Originally founded as the Cincinnati Stock Exchange, NSX became the first all-electronic exchange in the U.S. in 1980.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 9/29/2011 via PR Newswire

CBOE Stock Exchange, LLC, will acquire National Stock Exchange

synopsis: CBOE Stock Exchange (CBSX) has entered into a definitive agreement to acquire the National Stock Exchange, Inc. (NSX), an all-electronic stock exchange which is owned primarily by several nationally-known broker-dealers. Plans call for CBSX to operate NSX as a separate exchange, while consolidating data systems and business operations.
buyer parent: CBOE Holdings, Inc
buyer: CBOE Stock Exchange, LLC
The all-electronic CBOE Stock Exchange, LLC, created in 2007 by the Chicago Board Options Exchange and four market-maker partners, offers trading in more than 7,600 equities and exchange traded funds listed on U.S. securities markets. "
target: National Stock Exchange
The National Stock Exchange (NSX), headquartered in Jersey City, NJ, offers trading in all US exchange-listed equities on its NSX BLADE® trading platform. Originally founded as the Cincinnati Stock Exchange, NSX became the first all-electronic exchange in the U.S. in 1980.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/1/2011 via BusinessWire

Chi-X Europe Limited merged with BATS Global Markets, Inc.,

synopsis: BATS Global Markets (BATS) announced the completion of the Chi-X Europe acquisition. Chi-X Europe operates the largest pan-European equity multilateral trading facility (MTF). BATS intends to combine the BATS Europe and Chi-X Europe MTFs, which will be known as BATS Chi-X Europe.
buyer: BATS Global Markets, Inc. (BATS:$1,861.90)
BATS Global Markets (BATS) is an innovative global financial markets technology company based in the Kansas City, MO. The BATS trading platforms are internally developed by a dedicated team of market and technology professionals with BATS Exchange (BZX), the third-largest US securities exchange. "
target parent: Nomura Holdings, Inc.
target: Chi-X Europe Limited
Chi-X Europe operates a multilateral trading facility for the trading of more than 1,300 of the most liquid securities across 25 indices and 15 major European markets, as well as exchange traded funds, exchange traded commodities and international depositary receipts.
price ($mm)
$300
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 12/21/2009 via Company Press Release

Turquoise will be merged with Baikal Global, Ltd.,

synopsis: London Stock Exchange Group plc (LSEG) and Turquoise Trading Limited (Turquoise) announced their agreement to create a new pan-European trading venture through a merger of the businesses of Turquoise and Baikal Global Limited (Baikal).
buyer parent: London Stock Exchange Group plc
buyer: Baikal Global, Ltd.
Baikal, part of the London Stock Exchange Group, will be a pan-European Multilateral Trading Facility (MTF) complemented by a Liquidity Aggregation Service which seeks out liquidity in over 20 venues across 14 countries. "
target: Turquoise
Turquoise provides electronic execution services to buyers and sellers of pan-European equities, delivering differentiated value throughout the trading process.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 3/18/2009 via PR Newswire

GAIN Capital, acquired Fortune Capital Co., Ltd.

synopsis: GAIN Capital Holdings Inc., a global provider of online foreign exchange trading services, announced that it has acquired a controlling stake in Fortune Capital Co. Ltd, a privately-owned provider of forex trading services in Japan.
buyer: GAIN Capital (GCAP:$213.30)
GAIN Capital is a market leader in the rapidly growing online foreign exchange industry. Founded in 1999 by Wall Street veterans, GAIN now services clients from more than 140 countries and supports average trade volume in excess of $200 billion per month with its customers and counterparties. "
target: Fortune Capital Co., Ltd.
Founded in 2002, Fortune Capital provides online foreign exchange trading services in Japan. Fortune Capital offers FX traders the highest possible level of price transparency via real time streaming quotes, and a speed of execution that's unmatched in the marketplace.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/4/2020 via GlobeNewswire

Cboe Global Markets, Inc., acquired MatchNow

synopsis: Exchange operator Cboe Global Markets has acquired Canada’s largest “dark pool” stock trading platform, MATCHNow, from Virtu Financial. MATCHNow® consistently captures over 5% market share across all Canadian equities and ETFs.
buyer: Cboe Global Markets, Inc. (CBOE:$2,815.00)
Cboe is one of the world's largest exchange holding companies, offering cutting-edge trading and investment solutions to investors. The company is committed to defining markets and driving global marketplaces forward through product innovation, leading-edge technology and seamless trading solutions."
target parent: Madison Tyler Holdings, LLC
target: MatchNow
TriAct Canada Marketplace LP operates MATCHNow®, Canada’s premier broker-neutral dark pool. MATCHNow® consistently captures over 5% market share across all Canadian equities and ETFs.
price ($mm)
rev ($mm)
$7
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 11/4/2019 via GlobeNewswire

MarketAxess Holdings, Inc., acquired LiquidityEdge

synopsis: MarketAxess Holdings Inc., the operator of a leading electronic trading platform for fixed income securities, and the provider of market data and post-trade services for the global fixed-income markets, has acquired LiquidityEdge, a leading provider of an electronic U.S. Treasuries marketplace.
buyer: MarketAxess Holdings, Inc. (MKTX:$615.14)
MarketAxess operates a leading, institutional electronic trading platform delivering expanded liquidity opportunities, improved execution quality and significant cost savings across global fixed-income markets. "
target: LiquidityEdge
Established in 2015, LiquidityEdge offers a bespoke trading ecosystem to connect a community of dealers, market-makers and institutional investors to trade in the $500 billion average-daily-volume U.S. Treasury market.
price ($mm)
$150
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 12/18/2006 via finextra.com

Euronext N.V., will acquire SecFinex, Ltd.

synopsis: Euronext is to acquire a 51% stake in European securities lending platform SecFinex. The Exchange says the acquisition will enable SecFinex to extend its client base to members of Euronext and Euronext.liffe, and ultimately to improved post-trade processing.
buyer parent: New York Stock Exchange, Inc.
buyer: Euronext N.V. (ENXTPA:ENX:$721.90)
Euronext N.V. is the world's first cross border exchange business. It provides services for cash markets in Belgium, France, the Netherlands, and Portugal, and for derivatives in the UK. Euronext's services range from public offerings to trading facilities for cash instruments and derivatives. "
target: SecFinex, Ltd.
SecFinex provides an efficient and impartial trading platform for securities financing professionals to meet and execute trades worldwide in Dutch, French, German, Irish, Italian, Japanese, Spanish, Swedish, Swiss and UK equity markets.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 10/9/2020 via Market Watch

TP ICAP, will acquire Liquidnet, Inc.

synopsis: UK-based TP ICAP PLC will acquire Liquidnet Holdings Inc., an electronic trading network. The acquisition of Liquidnet is a transformational deal that will diversify TC ICAP's business mix and contribute to boosting revenue growth and underlying operating margin.
buyer: TP ICAP (LSE:TCAP:$2,398.01)
Headquartered in London, TP ICAP is a global firm of professional intermediaries that plays a pivotal role in the world’s financial, energy, and commodities markets. TP ICAP provides comprehensive analysis and insight into market conditions and long-term trends. "
target: Liquidnet, Inc.
Liquidnet is a technology-driven, global institutional investment network, connecting the world’s investors to the world’s investments. Its network spans 45 markets and connects institutional brokers, investment banks, exchanges, alternative trading venues, and data and research providers.
price ($mm)
$575
rev ($mm)
$339
EBITDA ($mm)
$64
EV / rev
2.1x
EV / EBITDA
10.9x
announced 10/9/2020 via Market Watch

TP ICAP, will acquire Liquidnet, Inc.

synopsis: UK-based TP ICAP PLC will acquire Liquidnet Holdings Inc., an electronic trading network. The acquisition of Liquidnet is a transformational deal that will diversify TC ICAP's business mix and contribute to boosting revenue growth and underlying operating margin.
buyer: TP ICAP (LSE:TCAP:$2,398.01)
Headquartered in London, TP ICAP is a global firm of professional intermediaries that plays a pivotal role in the world’s financial, energy, and commodities markets. TP ICAP provides comprehensive analysis and insight into market conditions and long-term trends. "
target: Liquidnet, Inc.
Liquidnet is a technology-driven, global institutional investment network, connecting the world’s investors to the world’s investments. Its network spans 45 markets and connects institutional brokers, investment banks, exchanges, alternative trading venues, and data and research providers.
price ($mm)
$575
rev ($mm)
$339
EBITDA ($mm)
$64
EV / rev
2.1x
EV / EBITDA
10.9x
closed 1/12/2017 via GlobeNewswire

t0.com, acquired Blue Ocean Financial Technology, Pte. Ltd.

synopsis: Financial technology firm t0.com, Inc., has formed Blue Ocean Technologies, LLC after acquiring the assets of Singapore-based Blue Ocean Financial Technology, Pte. Ltd. The addition of Blue Ocean Technologies to the t0 portfolio of companies further expands the fintech leader’s presence and range of services in the global financial ecosystem.
buyer parent: Overstock.com, Inc.
buyer: t0.com
t0.com, Inc. focuses on the development and commercialization of financial technology (fintech) based on cryptographically-secured, decentralized ledgers – more commonly known as blockchain technologies. "
target: Blue Ocean Financial Technology, Pte. Ltd.
Blue Ocean Technologies will offer the first transparent, electronic marketplace for trading U.S.-listed securities during non-U.S. trading hours. This electronic marketplace creates a new opportunity to manage risk and take advantage of opportunities created outside of U.S. regular trading hours.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/1/2013 via PR Newswire

NASDAQ OMX, acquired eSpeed, Inc.

synopsis: BGC Partners, Inc. announced that it closed the sale of eSpeed to NASDAQ OMX Group, Inc. NASDAQ OMX purchased the eSpeed brand name and various assets comprising the fully electronic portion of BGC's benchmark on-the-run U.S. Treasury brokerage, market data and co-location service businesses.
buyer: NASDAQ OMX (NasdaqGS:NDAQ:$5,230.00)
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. "
target parent: BGC Partners L.P.
target: eSpeed, Inc.
The eSpeed platform operates multiple buyer, multiple seller real-time electronic marketplaces for the global capital markets, including the world's largest government bond markets and other fixed income and foreign exchange marketplaces. 
price ($mm)
$750
rev ($mm)
$100
EBITDA ($mm)
EV / rev
12.3x
EV / EBITDA
announced 2/28/2020 via PR Newswire

INTL FCStone Inc., will acquire GAIN Capital Holdings, Inc.

synopsis: GAIN Capital Holdings, Inc., a US-based provider of online trading services, is to be acquired by INTL FCStone Inc., a financial services organization. GAIN provides market access and trade execution services in foreign exchange, contracts for difference and exchange-based products to retail investors.
buyer: INTL FCStone Inc. (INTL:$37,434.30)
INTL FCStone Inc., through its subsidiaries, is a leading provider of execution, risk management and advisory services, market intelligence, and clearing services across asset classes and markets around the world. "
target: GAIN Capital Holdings, Inc. (GCAP:$213.30)
GAIN Capital Holding provides innovative trading technology and execution services to retail and institutional investors worldwide, with multiple access points to OTC markets and global exchanges across a wide range of asset classes, including foreign exchange, commodities, and global equities.
price ($mm)[EV]
$236 [($746)]
rev ($mm)
$213
EBITDA ($mm)
EV / rev
-3.5x
EV / EBITDA
closed 5/30/2018 via Company Press Release

360T, acquired GTX Ltd.

synopsis: Deutsche Börse Group’s Foreign Exchange unit 360T is expanding its participation in the global FX market and presence in the US by acquiring the GTX ECN business from GAIN Capital Holdings Inc. GTX operates electronic trading venues and provides agency execution and clearing services for buy and sell-side institutional FX market participants.
buyer parent: Deutsche Börse Group
buyer: 360T
360T is the leading global provider of web-based trading technology. This best-in-class trading technology enables clients to trade OTC financial instruments, particularly foreign exchange (FX) and short term money market products, as well as FX and interest rate derivatives. "
target parent: GAIN Capital Holdings, Inc.
target: GTX Ltd.
GTX operates electronic trading venues and provides agency execution and clearing services for buy and sell-side institutional FX market participants.
price ($mm)
$100
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/1/2015 via PR Newswire

GAIN Capital Holdings, Inc., acquired City Index Group Limited

synopsis: GAIN Capital Holdings, Inc., a company that provides innovative trading technology and execution services to retail and institutional investors worldwide, announced that it has acquired City Index Limited, a leading online trading firm specializing in contracts-for-difference, forex and UK spread betting.
buyer: GAIN Capital Holdings, Inc. (GCAP:$213.30)
GAIN Capital Holdings provides innovative trading technology and execution services to retail and institutional investors worldwide, with multiple access points to OTC markets and global exchanges across a wide range of asset classes, including foreign exchange, commodities, and global equities. "
target parent: Intercapital Private Group Ltd.
target: City Index Group Limited
City Index (Holdings) Ltd. is a global provider of retail trading services including spread betting (UK only), CFDs and margin forex. The firm trades primarily under the City Index, Finspreads, FX Solutions and IFX Markets brands with core markets in the UK, Middle East and the Asia Pacific.
price ($mm)
$117
rev ($mm)
$125
EBITDA ($mm)
$11
EV / rev
0.9x
EV / EBITDA
11.0x
closed 9/24/2013 via PR Newswire

GAIN Capital Holdings, Inc., acquired Global Futures & Forex, LTD

synopsis: GAIN Capital Holdings, Inc. announced it has completed the acquisition of Global Futures & Forex, LTD. The combined company boasts a deeper global footprint, a robust offering of more than 12,500 financial products, and industry-leading trading technology. GAIN Capital Holdings, Inc. is a global provider of online trading services.
buyer: GAIN Capital Holdings, Inc. (GCAP:$213.30)
GAIN Capital Holdings is a global provider of online trading services. Its innovative trading technology provides market access and highly automated trade execution services across multiple asset classes, including foreign exchange, contracts for difference (CFDs) and exchange-based products. "
target: Global Futures & Forex, LTD
Global Futures & Forex, Ltd. provides retail derivatives. It offers futures contracts, as well as online currency trading solutions. The company specializes in market analysis in various futures markets, as well as professional risk management services.
price ($mm)
$73
rev ($mm)
$97
EBITDA ($mm)
EV / rev
0.8x
EV / EBITDA
announced 9/12/2013 via BusinessWire

TradeKing, will acquire GAIN Securities

synopsis: TradeKing Group Inc., an innovator in the online brokerage industry, announced it has received approval from FINRA to acquire the assets of GAIN Securities, Inc., a subsidiary of GAIN Capital Holdings, Inc. TradeKing anticipates it will have the GAIN Securities clients fully transitioned to its brokerage firm by early October.
buyer: TradeKing
TradeKing is a nationally licensed online stock and options broker offering simple, low cost online trading fees. TradeKing has received multiple discount broker awards from top industry sources and was rated best in customer service by SmartMoney Magazine. "
target parent: GAIN Capital Holdings, Inc.
target: GAIN Securities
GAIN Securities is an SEC registered and FINRA member broker-dealer offering direct access to listed U.S. equity securities, including stocks, exchange traded funds, or ETFs, options, mutual funds and bonds.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
on offer 4/9/2013 via BusinessWire

FXCM Inc., offer to acquire GAIN Capital Holdings, Inc.

synopsis: FXCM Inc., a leading online provider of foreign exchange, or FX, trading and related services, announced it is proposing to merge with and acquire GAIN Capital Holdings LLC., global provider of retail trading services. The combined company is expected to be an industry leader and accretive to all parties.
buyer: FXCM Inc. (GLBR:$417.32)
FXCM Inc. is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. "
target: GAIN Capital Holdings, Inc. (GCAP:$213.30)
GAIN Capital Holdings is a global provider of online trading services. Its innovative trading technology provides market access and highly automated trade execution services across multiple asset classes, including foreign exchange, contracts for difference (CFDs) and exchange-based products.
price ($mm)
$210
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 2/22/2013 via PR Newswire

GAIN Capital Holdings, Inc., will purchase US Customer Accounts from FX Solutions LLC

synopsis: GAIN Capital Holdings, Inc., a leading global provider of online trading services, announced that it has reached an agreement to acquire the U.S.-based retail customer accounts of FX Solutions LLC, a provider of foreign exchange trading solutions and an affiliate of City Index Group.
buyer: GAIN Capital Holdings, Inc. (GCAP:$213.30)
GAIN Capital Holdings is a global provider of online trading services. Its innovative trading technology provides market access and highly automated trade execution services across multiple asset classes, including foreign exchange, contracts for difference (CFDs) and exchange-based products. "
seller parent: Intercapital Private Group Ltd.
seller: FX Solutions LLC
FX Solutions LLC, provides a proprietary Internet-based foreign exchange trading platform to retail traders, and serves as a market maker and principal counterparty in the retail foreign exchange market.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/6/2012 via PR Newswire

GAIN Capital Holdings, Inc., acquired Open E Cry, LLC

synopsis: GAIN Capital Holdings, Inc. has completed its previously announced purchase of Open E Cry, LLC, an online futures broker, from optionsXpress Holdings, Inc. a subsidiary of The Charles Schwab Corporation. OEC offers direct market access to global exchanges through its proprietary software platform, OEC Trader.
buyer: GAIN Capital Holdings, Inc. (GCAP:$213.30)
GAIN Capital Holdings is a global provider of online trading services. Its innovative trading technology provides market access and highly automated trade execution services across multiple asset classes, including foreign exchange, contracts for difference (CFDs) and exchange-based products. "
target parent: The Charles Schwab Corporation
target: Open E Cry, LLC
Open E Cry, based in Powell, OH, is an innovative futures broker offering direct access futures trading through its proprietary software platform, OEC Trader. In addition to futures, OEC clients can also trade forex, options and equities all through the OEC Trader platform.
price ($mm)
$9.50
rev ($mm)
$14
EBITDA ($mm)
EV / rev
0.7x
EV / EBITDA
announced 4/21/2011 via PR Newswire

GAIN Capital Holdings, Inc., will acquire dbFX

synopsis: GAIN Capital, a provider of online trading services, has reached an agreement with Deutsche Bank AG to acquire dbFX, Deutsche Bank's retail foreign exchange trading business. The agreement also provides for the referral of retail forex clients from Deutsche Bank to GAIN Capital over the two-year period following the closing of the transaction.
buyer: GAIN Capital Holdings, Inc. (GCAP:$213.30)
GAIN Capital Holdings is a global provider of online trading services. Its innovative trading technology provides market access and highly automated trade execution services across multiple asset classes, including foreign exchange, contracts for difference (CFDs) and exchange-based products. "
target parent: Deutsche Bank AG
target: dbFX
dbFX is Deutsche Bank's retail foreign exchange trading business. Since dbFX was launched in 2006, volumes on the platform have grown every year culminating with full year 2010 volumes being 56 percent higher than full year 2009 volumes.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 10/19/2010 via PR Newswire

GAIN Capital Holdings, Inc., will purchase Retail Forex Business from Capital Market Services, LLC

synopsis: GAIN Capital Holdings, Inc., a global provider of online trading services specializing in foreign exchange (forex or FX) and contracts for difference (CFDs), has reached an agreement to acquire the retail forex business of Capital Market Services LLC ("CMS Forex"), pending regulatory approvals and other closing conditions.
buyer: GAIN Capital Holdings, Inc. (GCAP:$213.30)
GAIN Capital Holdings, Inc. is a provider of online trading services, specializing in foreign exchange and contracts for difference. GAIN Capital provides execution and technology products and services to an institutional client base including asset managers and other financial services firms. "
seller: Capital Market Services, LLC
Capital Market Services (CMS Forex) was founded in 1999 by professional Forex traders, Forex brokers and software developers. Since its inception, CMS Forex has identified traders' needs and built its core trading platform, VT Trader™, to accommodate its loyal client base.
price ($mm)
$8.00
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 9/13/2010 via PR Newswire

FOREX.com, will purchase Retail Forex Business from MG Financial, LLC

synopsis: GAIN Capital Holdings, Inc., a global provider of online trading services, has reached an agreement to acquire certain assets of MG Financial LLC's U.S. operations. Under the agreement, MG Financial will transfer approximately 4,000 customers to FOREX.com, the retail division of GAIN Capital.
buyer parent: GAIN Capital Holdings, Inc.
buyer: FOREX.com
With FOREX.com retail traders have access to the global foreign exchange market with the reassurance of trading with a market leader committed to fair and transparent pricing and quality trade execution. "
seller parent: Rosenthal Collins Group, LLC
seller: MG Financial, LLC
MG Financial LLC provides online trading services in the foreign exchange market. The company offers DealStation, an online foreign exchange trading platform that enables traders to view real-time quotations, execute transactions, and track open positions.
price ($mm)
$0.50
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 3/18/2009 via PR Newswire

GAIN Capital, acquired Fortune Capital Co., Ltd.

synopsis: GAIN Capital Holdings Inc., a global provider of online foreign exchange trading services, announced that it has acquired a controlling stake in Fortune Capital Co. Ltd, a privately-owned provider of forex trading services in Japan.
buyer: GAIN Capital (GCAP:$213.30)
GAIN Capital is a market leader in the rapidly growing online foreign exchange industry. Founded in 1999 by Wall Street veterans, GAIN now services clients from more than 140 countries and supports average trade volume in excess of $200 billion per month with its customers and counterparties. "
target: Fortune Capital Co., Ltd.
Founded in 2002, Fortune Capital provides online foreign exchange trading services in Japan. Fortune Capital offers FX traders the highest possible level of price transparency via real time streaming quotes, and a speed of execution that's unmatched in the marketplace.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/19/2006 via bobsguide.com

VantagePoint Venture Partners, purchased a minority stake in GAIN Capital

synopsis: GAIN Capital Group, Inc. a leading non-bank provider of foreign exchange (FOREX) trading and asset management services, announced today the successful completion of its Series D investment round, with a $40 million equity investment from VantagePoint Venture Partners.
buyer: VantagePoint Venture Partners
VantagePoint Venture Partners is one of the leading venture capital firms in the world. We focus entirely on technology and healthcare markets. As an active multi-stage investor, we work closely with companies ranging from start-ups to young public companies. "
target: GAIN Capital (GCAP:$213.30)
GAIN Capital is a market leader in the rapidly growing online foreign exchange industry. Founded in 1999 by Wall Street veterans, GAIN now services clients from more than 140 countries and supports average trade volume in excess of $200 billion per month with its customers and counterparties.
price ($mm)
$40
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 9/30/2016 via Reuters

IG Group Holdings Plc, will acquire DailyFX.com

synopsis: IG Group, an online trading company, said it had agreed to buy news and research portal DailyFX and its associated assets from FXCM Inc, a U.S. retail broker. Upon completion, the DailyFX business along with its web domains, source code, content and 34 employees will be transferred to IG Group. The deal is expected to close by the end of October.
buyer: IG Group Holdings Plc (LSE:IGG:$625.12)
IG Group Holdings plc is a world leader in financial derivatives trading and sports betting. They are the parent company of IG Index - the UK's largest and longest-running spread betting business – and offer sports and financial products to retail and professional clients. "
target parent: FXCM Inc.
target: DailyFX.com
DailyFX.com, the free news and research website of FXCM, is one of the world's leading news sources for the currency trading community. DailyFX provides analysis of market moves, explaining economic, political, and technical factors driving the market.
price ($mm)
$36
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/14/2015 via GlobeNewswire

Rakuten Securities, Inc., acquired FXCM Asia Limited

synopsis: FXCM Inc., a leading online provider of foreign exchange (FX) trading and related services, announced the sale of FXCM Asia Limited ("FXCM Hong Kong") to Rakuten Securities, Inc. The company provides comprehensive blend of brokerage services to the retail investors.
buyer parent: Rakuten Inc.
buyer: Rakuten Securities, Inc.
Rakuten Securities, Inc. the Investment Professional of the Rakuten Group. They provide comprehensive blend of brokerage services to the retail investors. "
target parent: FXCM Inc.
target: FXCM Asia Limited
FXCM Asia was established to make forex trading services more accessible to their clients all over Asia. Through the Hong Kong office, FXCM Asia is able to provide a much higher level of service to their many valued Asian clients, and bring them personalized, face-to-face assistance and more.
price ($mm)
$38
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/23/2013 via BusinessWire

FXCM Inc., acquired Faros Trading LLC

synopsis: FXCM Inc., a leading online provider of foreign exchange, or FX, trading and related services worldwide, announced that it has acquired a 50.1% controlling interest in Faros Trading LLC. Faros Trading is a global leader in foreign exchange intelligence, market coverage, and execution services to the institutional foreign exchange market.
buyer: FXCM Inc. (GLBR:$417.32)
FXCM Inc. is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. "
target: Faros Trading LLC
Faros Trading is the global leader in foreign exchange intelligence, market coverage, and execution services. Their clients are hedge funds, real money investors, reserve managers, corporations, and family offices.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
on offer 4/9/2013 via BusinessWire

FXCM Inc., offer to acquire GAIN Capital Holdings, Inc.

synopsis: FXCM Inc., a leading online provider of foreign exchange, or FX, trading and related services, announced it is proposing to merge with and acquire GAIN Capital Holdings LLC., global provider of retail trading services. The combined company is expected to be an industry leader and accretive to all parties.
buyer: FXCM Inc. (GLBR:$417.32)
FXCM Inc. is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. "
target: GAIN Capital Holdings, Inc. (GCAP:$213.30)
GAIN Capital Holdings is a global provider of online trading services. Its innovative trading technology provides market access and highly automated trade execution services across multiple asset classes, including foreign exchange, contracts for difference (CFDs) and exchange-based products.
price ($mm)
$210
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/18/2012 via Company Press Release

FXCM Inc., acquired Lucid Markets Limited

synopsis: FXCM Inc., a leading online provider of foreign exchange, or FX, trading and related services worldwide, announced that it has entered into a definitive agreement to acquire a 50% controlling interest in Lucid Markets Trading Ltd. and Lucid Markets LLP (“Lucid Markets”) for approximately $176 million, net of Lucid cash.
buyer: FXCM Inc. (GLBR:$417.32)
FXCM Inc. is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. "
target: Lucid Markets Limited
Lucid Markets is a leading non-bank electronic market making and trading firm in the institutional foreign exchange market. They are focused on delivering a compelling liquidity offering for FX markets accessible via API.
price ($mm)
$95*
rev ($mm)
$149
EBITDA ($mm)
$113
EV / rev
1.8x
EV / EBITDA
2.4x
closed 10/13/2011 via BusinessWire

FXCM Inc., acquired Foreland Forex Co., Ltd.

synopsis: FXCM Inc., a leading online provider of foreign exchange, ("FX"), trading and related services worldwide, announced that its subsidiary FXCM Japan Securities Co., Ltd. has completed its acquisition of Japanese FX broker Foreland Forex Co., Ltd.
buyer: FXCM Inc. (GLBR:$417.32)
Forex Capital Markets LLC is one of the Largest Forex Dealer Members. More than 125,000 live accounts are traded on FXCM trading platforms. As of January 2009, an average of $500 billion in notional volume is traded each month on FXCM trading platform. "
target: Foreland Forex Co., Ltd.
Foreland Forex Co., Ltd. offers retail foreign exchange services. The company was founded in 2001 and is based in Tokyo, Japan.
price ($mm)
$17
rev ($mm)
EBITDA ($mm)
$9
EV / rev
EV / EBITDA
2.0x
closed 3/31/2011 via BNC Analysis

FXCM Inc., purchased FXCM Japan from GCI Capital Group

synopsis: FXCM Inc., a leading online provider of foreign exchange, or FX, trading and related services, announced that it has acquired the retail FX business of GCI Capital Co. Ltd of Japan, which has been operating under the FXCM Japan brand, for $5 million net of cash received, subject to certain adjustments.
buyer: FXCM Inc. (GLBR:$417.32)
FXCM Inc. is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. "
seller: GCI Capital Group
GCI Capital provides risk capital in Japan and internationally. It offers online foreign currency margin trading services to retail investors. The retail FX business of GCI Capital Co. Ltd of Japan operates under the brand FXCM Japan.
price ($mm)
$5.00
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 10/1/2010 via BNC Analysis

FXCM Inc., acquired ODL Securities

synopsis: ODL Group Limited (“ODL”), a leading, independent forex, derivatives, equities and commodities broker, has been acquired by US-based FXCM Holdings LLC (“FXCM”), a leading global forex broker that caters to both retail and institutional markets.
buyer: FXCM Inc. (GLBR:$417.32)
FXCM Inc. is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. "
target: ODL Securities
ODL Securities Limited (ODLS) commenced trading early in 1995. Initially it specialised in derivatives and equities but recently has seen significant growth in foreign exchange, equity CFDs, Corporate and Government bond trading and other over-the-counter (OTC) products.
price ($mm)
$55
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 1/30/2009 via Market Wire

Forex Capital Markets, LLC., will purchase U.S. retail forex business from Hotspot FXr, LLC

synopsis: Forex Capital Markets LLC announced it has reached an agreement to acquire certain assets of the U.S. retail forex business of Hotspot FXr LLC to further expand the deep liquidity offered via its Active Trader platform. Hotspot FXr's affiliate, Hotspot FXi LLC, will continue to offer its platform for institutional FX trading.
buyer: Forex Capital Markets, LLC. (GLBR:$417.32)
Forex Capital Markets LLC is one of the Largest Forex Dealer Members. More than 125,000 live accounts are traded on FXCM trading platforms. As of January 2009, an average of $500 billion in notional volume is traded each month on FXCM trading platform. "
seller parent: Knight Capital Group, Inc.
seller: Hotspot FXr, LLC
Hotspot FX was founded in 2000 by a group of foreign exchange market professionals. In 2001, the firm was registered to offer trading services to retail clients in the US. In 2002, the firm launched Hotspot FXi, the first institutional ECN with a prime broker-based credit structure.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/1/2012 via BusinessWire

Zecco merged with TradeKing,

synopsis: TradeKing and Zecco, two innovators in the online brokerage industry, announced the merger of the two firms has officially closed. Zecco is an online brokerage site for stock, options, and forex traders. Zecco Trading is an online stock brokerage that offers low cost stock trades and low cost options trades.
buyer: TradeKing
TradeKing is a nationally licensed online stock and options broker offering simple, low cost online trading fees. TradeKing has received multiple discount broker awards from top industry sources and was rated best in customer service by SmartMoney Magazine. "
target: Zecco
Zecco is an online brokerage site for stock, options, and forex traders. Zecco Trading is an online stock brokerage that offers low cost stock trades and low cost options trades. Zecco provides low commission rates, free research and tools, and customer service.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/24/2007 via PR Newswire

optionsXpress Holdings, Inc., acquired XPressTrade, LLC

synopsis: optionsXpress Holdings, Inc. has completed the acquisition of XpressTrade, LLC, for approximately $37 million. XpressTrade, also based in Chicago, is a leading Internet-based futures and foreign exchange broker, which offers self-directed retail customers, 24-hour access to 25 exchanges and over 300 futures products worldwide.
buyer: optionsXpress Holdings, Inc. (OXPS:$231.44)
optionsXpress Holdings, Inc. provides innovative securities brokerage products and services for investor education, strategy evaluation and trade execution. Through its subsidiaries optionsXpress, Inc., and brokersXpress LLC the company offers a wide range of investor tools. "
target: XPressTrade, LLC
XpressTrade was formed with an emphasis on investor education, high-touch customer service and an easy-to-use interface. XpressTrade has achieved average annual revenue growth of 70% and pretax income growth of 77% since 2003. Customer assets have almost tripled over the same period.
price ($mm)
$37
rev ($mm)
$19
EBITDA ($mm)
$8
EV / rev
2.0x
EV / EBITDA
4.7x
closed 12/8/2005 via BusinessWire

eLocalAccess, LLC merged with TradeMaven Group LLC,

synopsis: TradeMaven LLC and eLocal today jointly announced they have merged the two firms to form TradeMaven Group LLC (TMG). The merger is one of the most significant in the online trading industry, combining TradeMaven's leading technology for online trading with eLocal's exceptional retail and institutional execution and brokerage services.
buyer: TradeMaven Group LLC
TradeMaven was founded with the mission of providing high-performance and cost-effective trading software for experienced and new traders. TM is used by Futures, Forex & Bond Traders worldwide. "
target: eLocalAccess, LLC
eLOCAL was established and registered with the NFA and CFTC in July 2000 culminating in the merger of two large independent local clearing firms at the Chicago Board of Trade.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 2/8/2012 via PR Newswire

Alternative Investment Partners, will acquire GO Markets Pty Limited

synopsis: The Board of AIP Global Holdings Limited is pleased to announce that the Company has entered into an agreement with My First Investments Limited to acquire a controlling interest in Australian-based GO Markets Pty Limited, a leading online financial services business headquartered in Melbourne, Australia.
buyer: Alternative Investment Partners
Established in 2002, Alternative Investment Partners is a full-service global investment banking and securities firm headquartered in Tokyo, Japan, offering fund distribution services and a wide range of sophisticated, value-added investment banking services. "
target: GO Markets Pty Limited
GO Markets is a multi award-winning Australian registered company providing online-based financial services to an extensive client base in Australia and overseas. It offers regulated financial services including Margin FX, Securities and Derivatives.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 10/13/2011 via BusinessWire

FXCM Inc., acquired Foreland Forex Co., Ltd.

synopsis: FXCM Inc., a leading online provider of foreign exchange, ("FX"), trading and related services worldwide, announced that its subsidiary FXCM Japan Securities Co., Ltd. has completed its acquisition of Japanese FX broker Foreland Forex Co., Ltd.
buyer: FXCM Inc. (GLBR:$417.32)
Forex Capital Markets LLC is one of the Largest Forex Dealer Members. More than 125,000 live accounts are traded on FXCM trading platforms. As of January 2009, an average of $500 billion in notional volume is traded each month on FXCM trading platform. "
target: Foreland Forex Co., Ltd.
Foreland Forex Co., Ltd. offers retail foreign exchange services. The company was founded in 2001 and is based in Tokyo, Japan.
price ($mm)
$17
rev ($mm)
EBITDA ($mm)
$9
EV / rev
EV / EBITDA
2.0x
closed 9/21/2011 via PR Newswire

FXDD, acquired Frontier FX

synopsis: FXDD Europe, a leader in online Forex trading and education, announced it has acquired the business of Dublin based Frontier FX, a leading international Forex broker. Frontier FX provides a multi-bank electronic trading platform for Spot and Forward foreign exchange services with a primary focus on professional traders.
buyer: FXDD
FXDD is a leader in online Forex trading and education, dedicated to providing superior customer service, powerful trading technology, and reliable streaming liquidity. It provides services to individual and institutional traders, hedge funds, commercial entities, brokerage firms and money managers "
target: Frontier FX
Frontier FX provides a multi-bank electronic trading platform for Spot and Forward foreign exchange services with a primary focus on professional traders. The company offers such services to banks, fund managers, hedge funds and CTA's enabling them to trade the global FX market.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 5/28/2008 via Company Press Release

Saxo Bank, will acquire Cambiste

synopsis: Danish online investment bank Saxo is acquiring Cambiste, a French provider of Web-based foreign exchange trading services, for an undisclosed sum.
buyer: Saxo Bank
Saxo Bank A/S is a global investment bank specialising in online investments in international Capital Markets. Saxo Bank enables clients to trade currencies, shares, CFDs, futures, options and other derivatives, as well as providing portfolio management via our online trading platform, SaxoTrader. "
target: Cambiste
Cambiste is the only forex broker fully regulated by Banque de France. The company was launched by Pierre-Antoine Dusoulier who wanted to offer an in-shore currency trading solution, compliant with french regulation. Cambiste has quickly attracted a large number of active currency traders.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 8/6/2018 via Company Press Release

AxiCorp, will acquire One Financial Markets

synopsis: Australian-owned Forex (FX) and Contracts For Difference (CFD) trading provider AxiCorp has announced that it will acquire UK-headquartered One Financial Markets (OFM). OFM is an award-winning global online broker providing trading facilities for retail and institutional investors.
buyer: AxiCorp
AxiCorp is a leading global provider of margin and deliverable Foreign Exchange, Contracts For Difference (CFDs) and Financial Spread betting. Their major brands are AxiTrader, AxiPrime, AxiSelect and AxiForex. They offer fully regulated Retail and Institutional trading. "
target parent: KBBO Group
target: One Financial Markets
One Financial Markets is a global, award winning, online broker providing 24/5 trading facilities to retail and institutional investors in forex and CFDs on indices, commodities, energies, bonds and futures.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/14/2016 via PR Newswire

GCM Prime, purchased Institutional Clients Book from CapMar Financial

synopsis: GCM Prime has just closed a deal to acquire the customer books and certain assets of Capital Market Services UK Ltd (CMS), an FXP International Ltd wholly-owned subsidiary. The acquired business unit focuses on providing institutional clients foreign exchange and CFD offerings and technology solutions.
buyer: GCM Prime
GCM Prime understands that trade optimization requires a comprehensive focus on front, middle and back office support. With decades of experience in managing FX liquidity relationships, their prime brokerage specialists deliver solutions for every trading challenge. "
seller parent: Prime Mantle Corporation PLC
seller: CapMar Financial
Capital Market Services UK Ltdl's institutional clients book focuses on providing institutional clients foreign exchange and CFD offerings and technology solutions. Capital Market Services UK Ltd focuses exclusively in the institutional space with “prime of prime” and White Label offerings.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/10/2014 via PR Newswire

Prime Mantle Corporation PLC, acquired CapMar Financial

synopsis: Prime Mantle Corporation PLC ("PMC") has acquired CapMar Financial. CapMar Financial focuses exclusively in the institutional space with “prime of prime” and White Label offerings. CapMar Financial was originally launched as Capital Market Services in 1999 and became an industry leading brokerage firm in the retail over-the-counter Forex market.
buyer: Prime Mantle Corporation PLC
Prime Mantle is an Irish holding company whose companies include FXPRIMUS. FXPRIMUS offers trading in over 150 instruments including Spot FX, Metals, Commodities, & Global Equity CFD's. FXPRIMUS is the first retail Forex brokerage to offer a Trust account option regardless of account size. "
target: CapMar Financial
CapMar Financial focuses exclusively in the institutional space with “prime of prime” and White Label offerings. CapMar Financial was originally launched as Capital Market Services in 1999 and became an industry leading brokerage firm in the retail over-the-counter Forex market.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 7/1/2015 via Reuters

Playtech plc, will acquire Ava Trade

synopsis: Playtech Plc said it has agreed to buy currency trading platform Ava Trade for $105 million to expand its online trading platform. AvaTrade is one of the world’s most popular and trusted online FX and CFD brokers, delivering the best forex trading experience for novice and expert traders alike.
buyer: Playtech plc (LSE:PTEC:$1,767.78)
Playtech is an online gaming software supplier, offering cutting-edge solutions to the industry's leading operators. Its approach has been centered on the continual development of best-of-breed gaming products and content, and its success built upon strong partnerships with our licensees. "
target: Ava Trade
AvaTrade’s user-oriented perspective, combined with financial backing, is unique in the field of online trading. AvaTrade has created the optimal trading environment for every trader. AvaTrade’s scope includes a spectrum of trading instruments including Forex, stocks, commodities and indices.
price ($mm)
$105
rev ($mm)
$70
EBITDA ($mm)
$25
EV / rev
1.5x
EV / EBITDA
4.3x
announced 6/1/2015 via Reuters

Playtech plc, will acquire Plus500

synopsis: Playtech Plc, the online gaming company, has agreed to buy Plus500, an online trading platform for retail customers to trade CFDs internationally over more than 1,900 different underlying global financial instruments comprising equities, ETFs, foreign exchange, indices and commodities.
buyer: Playtech plc (LSE:PTEC:$1,767.78)
Playtech is the world's largest online gaming software supplier, offering cutting-edge, value added solutions to the industry's leading operators. Since Playtech's inception in 1999, its approach has been centered on the continual development of best-of-breed gaming products and content. "
target: Plus500 (AIM:PLUS:$221.48)
Plus500 has developed and operates an online trading platform for retail customers to trade CFDs internationally over more than 1,900 different underlying global financial instruments comprising equities, ETFs, foreign exchange, indices and commodities.
price ($mm)
$697
rev ($mm)
$221
EBITDA ($mm)
EV / rev
3.1x
EV / EBITDA
closed 11/16/2011 via GlobeNewswire

TradeStation Securities, Inc., acquired Interbank FX

synopsis: TradeStation Group, Inc. announced the acquisition of IBFX Holdings, LLC ("IBFX"), an innovative provider of forex trading services to 27,000 individual traders, fund managers and institutional clients worldwide. Interbank FX, LLC, the primary Forex operating company of the IBFX group, will be merged into TradeStation Forex, Inc.
buyer parent: Monex Group, Inc.
buyer: TradeStation Securities, Inc.
TradeStation Group, Inc. offers the TradeStation platform to the active trader and certain institutional trader markets. TradeStation is an electronic trading platform that offers state-of-the-art electronic order placement and execution. "
target: Interbank FX
Interbank FX, LLC is a worldwide provider of retail Forex trading services, offering individual traders, fund managers and institutional customers proprietary technology and tools to trade Forex online.
price ($mm)
$17
rev ($mm)
$26
EBITDA ($mm)
EV / rev
0.6x
EV / EBITDA
closed 3/31/2011 via BNC Analysis

FXCM Inc., purchased FXCM Japan from GCI Capital Group

synopsis: FXCM Inc., a leading online provider of foreign exchange, or FX, trading and related services, announced that it has acquired the retail FX business of GCI Capital Co. Ltd of Japan, which has been operating under the FXCM Japan brand, for $5 million net of cash received, subject to certain adjustments.
buyer: FXCM Inc. (GLBR:$417.32)
FXCM Inc. is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. "
seller: GCI Capital Group
GCI Capital provides risk capital in Japan and internationally. It offers online foreign currency margin trading services to retail investors. The retail FX business of GCI Capital Co. Ltd of Japan operates under the brand FXCM Japan.
price ($mm)
$5.00
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/19/2007 via BNC Analysis

Spectrum Equity Investors, purchased a minority stake in Interbank FX

synopsis: Interbank FX, a leading provider of online foreign exchange trading, announced that it has received a $40 million minority equity investment from Spectrum Equity Investors. The investment supports Interbank FX’s agency-execution business model and proprietary technologies, and will further position the company for its next stage of growth.
buyer: Spectrum Equity Investors
Spectrum Equity Investors is one of the largest, fastest-growing, and most experienced private equity investors. They have investment professionals that have invested in more than 150 telecommunications, networking, information services, and media businesses. "
target: Interbank FX
Interbank FX, LLC operates as a retail foreign exchange broker. The company provides charting programs; real-time news; phone, online, and email customer support; and educational resources.
price ($mm)
$40
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 5/21/2009 via BusinessWire

PFGBEST, will acquire Alaron Futures & Options

synopsis: PFGBEST announced that it is purchasing the customer assets of Alaron. It will be formed into a new division called ATD, a division of PFGBEST. Both companies have been leaders in the futures industry for 20 years, through the evolution of online trading that helped level the playing field for retail futures market participants.
buyer: PFGBEST
PFGBEST is the second-largest non-clearing U.S. Futures Commission Merchant, with customers, affiliates and brokerage offices in more than 80 countries. It offers a range of trading and investor products and services for retail investors as well as for commercial and institutional clients. "
target: Alaron Futures & Options
Alaron, founded in 1989 in Chicago, provides electronic and pit-based futures trading and asset management services to institutions and retail clients on five continents. Alaron built upon its core business by integrating global trading systems and analysis techniques used by professional traders.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/15/2008 via PR Newswire

Lightspeed Professional Trading, LLC, acquired Integrity Trading Inc.

synopsis: Lightspeed Financial, LLC, announced that it has completed the acquisition of Integrity Trading Inc., a Direct Market Access broker/dealer that provides execution and clearing services to retail and institutional customers. Terms of the transaction were not disclosed.
buyer: Lightspeed Professional Trading, LLC
Lightspeed Professional Trading, LLC is a Direct Market Access trading and trading technology development business. Formerly E*TRADE Professional Trading, LLC, the firm was acquired by the current management team in a management buyout from E*TRADE Financial in 2006. "
target: Integrity Trading Inc.
Integrity Trading International is a broker dealer registered in the United States offering clearing and execution to U.S. and foreign banks, broker dealers and individuals interested in accessing the U.S. market and reselling our services in foreign countries.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/26/2007 via

Commonwealth Bank of Australia, acquired IWL Ltd

synopsis: IWL Limited and the Commonwealth Bank of Australia have entered into a Scheme Implementation Deed whereby it is proposed that CBA will acquire all of the issued capital in IWL for approximately A$373 million or A$6.57 per share, less any dividend paid by IWL for the period ended 30 June 2007.
buyer: Commonwealth Bank of Australia (ASX:CBA:$19,930.06)
The Commonwealth Bank is one of Australia's leading financial institutions with businesses in New Zealand, Asia and the United Kingdom. We are positioned for future growth, and aim to provide accessible banking and financial services for all Australians. "
target: IWL Ltd
IWL Limited is a leading provider of Wealth Management technology and operating solutions, information and intellectual services to the financial markets. These technologies have become an industry standard for large Australian banks, professional advisors and large financial institutions.
price ($mm)
$318
rev ($mm)
$110
EBITDA ($mm)
$24
EV / rev
2.9x
EV / EBITDA
13.4x
announced 10/28/2009 via AP - Associated Press

Monex Group, Inc., will acquire ORIX Securities Coporation

synopsis: Monex Group Inc, Japan's No. 3 online broker, will buy the securities unit of Orix Corp in a deal that will create the country's second-largest online broker. By forming a broker with more than $23 billion in client assets in over 1.3 million accounts, the two will be able to cut costs and beef up product and service line-ups.
buyer: Monex Group, Inc.
Monex Group, Inc., through its susidiaries, provides online brokerage and investment advisory services such as stocks, mutual funds, bonds, alternative investment products, fixed income products, and forex products for individuals. "
target parent: ORIX Corporation
target: ORIX Securities Coporation
ORIX Securities Corporation assists corporate clients with initial public offering and capital market fund management in addition to operating retail investor-oriented online services such as the discount brokerage "ORIX Online" and foreign exchange margin brokerage "ORIX FX".
price ($mm)
$275
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 5/13/2020 via BNC Analysis

TradeFloor Pty Ltd, acquired OpenMarkets

synopsis: Software developer TradeFloor has acquired a controlling stake in OpenMarkets, a digital trading platform that provides retail investors, traders, advisers, robo-advisers, brokers and financial intermediaries with a suite of innovative brokerage services for trading on the Australian securities markets.
buyer: TradeFloor Pty Ltd
TradeFloor is a must-have application for anyone who trades (or is thinking about trading) Exchange-Traded Options in Australia. They are striving to make options accessible to everyone, regardless of trading knowledge, and provide valuable insights into the risk and reward of trading strategies. "
target: OpenMarkets
OpenMarkets is a digital trading platform that provides retail investors, traders, advisers, robo-advisers, brokers and financial intermediaries with a suite of innovative brokerage services for trading on the Australian securities markets.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA

Like GAIN Capital Holdings, Inc.


read more

GAIN Capital Holdings, Inc.

GAIN Capital Holdings, Inc.

Galactus Ltd

FXCM Asia Limited

City Index Group Limited

GTX Ltd.

KCG Hotspot FX

Hotspot FX, Inc.

National Stock Exchange

National Stock Exchange

Chi-X Europe Limited

Turquoise

Fortune Capital Co., Ltd.

MatchNow

LiquidityEdge

SecFinex, Ltd.

Liquidnet, Inc.

Liquidnet, Inc.

Blue Ocean Financial Technology, Pte. Ltd.

eSpeed, Inc.

read more

GAIN Capital Holdings, Inc.

GTX Ltd.

City Index Group Limited

Global Futures & Forex, LTD

GAIN Securities

GAIN Capital Holdings, Inc.

FX Solutions LLC

Open E Cry, LLC

dbFX

Capital Market Services, LLC

MG Financial, LLC

Fortune Capital Co., Ltd.

GAIN Capital

read more

DailyFX.com

FXCM Asia Limited

Faros Trading LLC

GAIN Capital Holdings, Inc.

Lucid Markets Limited

Foreland Forex Co., Ltd.

GCI Capital Group

ODL Securities

Hotspot FXr, LLC

read more

Zecco

XPressTrade, LLC

eLocalAccess, LLC

GO Markets Pty Limited

Foreland Forex Co., Ltd.

Frontier FX

Cambiste

One Financial Markets

CapMar Financial

CapMar Financial

Ava Trade

Plus500

Interbank FX

GCI Capital Group

Interbank FX

Alaron Futures & Options

Integrity Trading Inc.

IWL Ltd

ORIX Securities Coporation

OpenMarkets

Geography
Matching Companies
Ticker: GCAP
 
 
 
 
 
 
 
 
GAIN Capital Holdings, Inc.
GAIN Capital Holdings, Inc.
GAIN Capital Holdings provides innovative trading technology and execution services to retail and institutional investors worldwide, with multiple access points to OTC markets and global exchanges across a wide range of asset classes, including foreign exchange, commodities, and global equities.
year
2019
rev ($mm)
$213.30
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
Employees
638
  • drill down
  • watch
Ticker: NasdaqGS:NDAQ
 
 
 
 
 
 
 
 
Nasdaq, Inc.
Nasdaq, Inc.
Nasdaq is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence.
year
2020
rev ($mm)
$5,230.00
EBITDA ($mm)
$1,464.00
EBIT ($mm)
$1,268.00
Net Income ($mm)
$911.00
Employees
4776
  • drill down
  • watch
Ticker: CME
 
 
 
 
 
 
 
 
CME Group
CME Group
As the world's leading and most diverse derivatives marketplace, CME Group is where the world comes to manage risk. Their exchanges offer the widest range of global benchmark products across all major asset classes. The CME Globex® electronic trading platform brings buyers and sellers together.
year
2019
rev ($mm)
$4,593.10
EBITDA ($mm)
$2,975.90
EBIT ($mm)
$2,594.10
Net Income ($mm)
$1,808.00
Employees
4590
  • drill down
  • watch
Ticker: XTRA:DB1
 
 
 
 
 
 
 
 
Deutsche Börse Group
Deutsche Börse Group
Deutsche Börse Group is one of the largest exchange organisations worldwide. It organises markets characterised by integrity, transparency and safety for investors who invest capital and for companies that raise capital.
year
2020
rev ($mm)
$4,215.07
EBITDA ($mm)
$2,127.49
EBIT ($mm)
$2,014.44
Net Income ($mm)
$1,274.60
Employees
6427
  • drill down
  • watch
Ticker: LSE:LSE
 
 
 
 
 
 
 
 
London Stock Exchange Group plc
London Stock Exchange Group plc
London Stock Exchange Group is an international markets infrastructure business. Its diversified global business focuses on capital formation, intellectual property and risk and balance sheet management. The Group operates a broad range of international equity, ETF, bond and derivatives markets.
year
2020
rev ($mm)
$3,186.38
EBITDA ($mm)
$1,460.26
EBIT ($mm)
$1,272.44
Net Income ($mm)
$525.11
Employees
4965
  • drill down
  • watch
Ticker: SEHK:388
 
 
 
 
 
 
 
 
Hong Kong Exchanges and Clearing Limited
Hong Kong Exchanges and Clearing Limited
Hong Kong Exchanges and Clearing is a leading financial market operator. From their home in the financial hub of Hong Kong and an additional base in London, they provide world-class facilities for trading and clearing securities and derivatives in Equities, Commodities, Fixed Income and Currency.
year
2019
rev ($mm)
$2,074.79
EBITDA ($mm)
$1,492.81
EBIT ($mm)
$1,432.18
Net Income ($mm)
$1,212.06
Employees
2109
  • drill down
  • watch
Ticker: IBKR
 
 
 
 
 
 
 
 
Interactive Brokers Group
Interactive Brokers Group
Interactive Brokers Group, together with its subsidiaries, is an automated global electronic broker that specializes in catering to financial professionals by offering state-of-the-art trading technology, superior execution capabilities, worldwide electronic access, and more.
year
2015
rev ($mm)
$1,045.51
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
$12.53
Employees
960
  • drill down
  • watch
Ticker: TSX:X
 
 
 
 
 
 
 
 
TMX Group Inc.
TMX Group Inc.
TMX Group is an integrated, multi-asset class exchange group. TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy.
year
2019
rev ($mm)
$769.01
EBITDA ($mm)
$494.74
EBIT ($mm)
$442.06
Net Income ($mm)
$210.82
Employees
1230
  • drill down
  • watch
Ticker: NZE:NZX
 
 
 
 
 
 
 
 
New Zealand Exchange Limited
New Zealand Exchange Limited
The NZX Capital Markets (New Zealand Exchange Limited) form a diverse offering for companies wishing to raise growth capital and investors looking for secure and liquid investment opportunities.
year
2014
rev ($mm)
$44.56
EBITDA ($mm)
$15.59
EBIT ($mm)
$14.71
Net Income ($mm)
$8.96
Employees
188
  • drill down
  • watch
Ticker: CBOE
 
 
 
 
 
 
 
 
CBOE Holdings, Inc.
CBOE Holdings, Inc.
CBOE Holdings, Inc. is the holding company for Chicago Board Options Exchange (CBOE), the CBOE Futures Exchange (CFE) and other subsidiaries. CBOE is the largest U.S. options exchange and creator of listed options.
year
2020
rev ($mm)
$2,815.00
EBITDA ($mm)
$857.30
EBIT ($mm)
$699.20
Net Income ($mm)
$436.90
Employees
823
  • drill down
  • watch
Ticker: GLBR
 
 
 
 
 
 
 
 
FXCM Inc.
FXCM Inc.
FXCM Inc. is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs.
year
2012
rev ($mm)
$417.32
EBITDA ($mm)
$87.00
EBIT ($mm)
$50.23
Net Income ($mm)
$8.96
Employees
  • drill down
  • watch
Ticker: IBKR
 
 
 
 
 
 
 
 
Interactive Brokers Group
Interactive Brokers Group
Interactive Brokers Group, together with its subsidiaries, is an automated global electronic broker that specializes in catering to financial professionals by offering state-of-the-art trading technology, superior execution capabilities, worldwide electronic access, and more.
year
2015
rev ($mm)
$1,045.51
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
$12.53
Employees
960
  • drill down
  • watch
Ticker: DB:FLA
 
 
 
 
 
 
 
 
Flatex
Flatex is a leading online brokerage business in Europe. Flatex provides an affordable and mobile online broker-platform with expert service and advice. Flatex offers trading in all common securities such as shares, funds and ETFs in exchange and over-the-counter trading.
year
2019
rev ($mm)
$132.15
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
$22.59
Employees
524
  • drill down
  • watch
Ticker: DSECF
 
 
 
 
 
 
 
 
Daiwa Securities Group Inc.
Daiwa Securities Group Inc.
Daiwa Securities Group offers traditional and online securities brokerage to individuals and businesses through its Daiwa Securities Co. subsidiary. Daiwa Securities SMBC offers investment banking services, mostly to domestic companies and Japan-based multinationals.
year
2012
rev ($mm)
$422,370.00
EBITDA ($mm)
$21,966.00
EBIT ($mm)
($19,147.00)
Net Income ($mm)
Employees
14432
  • drill down
  • watch