BGC Brokers, an entity of BGC Partners, has acquired the business and a number of assets of London-based broking company, Sterling International Brokers.
Sterling, which specialises in traditional money broking services including the execution of money market deals in sterling, euro and other major currencies as well as related derivative products, was previously owned by the Skipton Building Society.
The acquisition will see BGC acquire Sterling’s business, team of brokers and product suite.
Mark Webster, executive managing director and general manager at BGC, says, “The firm's focus on Sterling and other major currency transactions complements the products we offer clients and we look forward to adding this excellent business into our firm imminently.”
Sterling is regulated by the Financial Services Authority and its clients include banks, building societies, as well public sector and commercial participants in the sterling and currency markets.