AxiCorp

AxiCorp Acquires Star Financial Systems

AxiCorp - Star Financial SystemsAxiCorp Financial Services Pty Ltd, an Australia based FX online forex trading service provider recently revealed the acquisition of trading technology company Star Financial Systems. As per statement released by the firm, it has acquired the UK headquartered trading technology provider Star Financial Systems post conclusion of its twelve month long talks. The cash based acquisition deal sees AxiCorp acquire all the technology, staff, operations and licenses of Star Financial Systems however, AxiCorp’s Chief Executive Officer Rajesh Yohannan mentioned that there will be no major radical change in the firm’s business owing to this deal. The acquisition deal is the latest in a series of purchases made by AxiCorp which had in the recent past acquired brands labels such as One Financial Markets (OFM) and AxiForex under their corporate umbrella. While financial service providers in Australian market are considering mergers and acquisition as a major threat owing to recent tightening in regulatory environment, the method of acquisition and merger seems to have become an increasingly popular and integral part of AxiCorp’s strategy.

Reports from 2019 shows that AxiCorp and its flagship AxiTrader brand have been experiencing positive results on multiple verticals such as increased record level trading volumes and new trading accounts through social media influence. The company has begun its new year (2020) firmly ingrained in the upper echelons of brokers worldwide – a position from which CEO Rajesh hopes to improve the business further while also expanding client base.

Commenting on this deal, Dan Moczulski – Chief Executive Officer at Star Financial Systems said, “I’m delighted Axi liked our approach and wanted to invest in it, Given AxiCorp’s focus on continued growth and expansion, our expertise providing stable trading infrastructure in the multi-asset arena is a natural fit. We’ve now got the opportunity to bring our integrated service to thousands more clients around the world”.

Commenting on this deal, AxiCorp’s CEO Rajesh Yohannan said, “We view this as a partnership, not an acquisition. Star has built an enviable reputation and loyal clientele by doing things its own way, under its own direction, and we’re not concerned with trying to change that. What AxiCorp can and will do is add greater liquidity and risk management to the already excellent trading platform APIs and back-office infrastructure” and added, “Most obviously this approach greatly strengthens our end-to-end service and makes AxiCorp a more compelling choice for traders – for example, the addition of Star immediately gives us greater flexibility with what we can offer IB partners and affiliates – but it also encourages future business investment. With each successful acquisition, we’re able to prove to potential partners that we have a clear strategy in place, are focused on growth and have the ability to integrate. I’m proud of the way AxiCorp provides a wide range of products through market-leading platforms, but we’re aware that clients want increased flexibility not just on what they trade, but how they trade. The partnership with Star means we’re able to offer thousands of asset classes, across multiple trading interfaces, optimized specifically to each and every client and institutional partner”.