CFH Systems, which produces online
trading services for financial institutions primarily for FX and CFDs, is set to
acquire Capital Market Automation Provider’s (CMAP) 49% stake in its
CFH formed the joint venture in November 2015,
but now says that it has the infrastructure and local market knowledge to
continue developing the company alone. Announcing the launch last year,CFH Systems said itformed the joint venture with CMAP to “accelerate market penetration in China”. At the time, the
firm said the partnership offered institutional clients the benefits of CFH’s
ClearVision technology, combined with CMAP’s local network infrastructure and
specialisation in MT4-hosted services.
Ole Rossing, CIO of CFH, explains: “Our
joint venture with Capital Market Automation Provider has been a major catalyst
for growth in the region and we now have the infrastructure in place to build
on these foundations ourselves, with the best route to LD4 and strong, reliable
cross connects in China.
“The acquisition plan was pre-agreed
from the outset and because of our successful partnership, both CFH Systems and
Capital Market Automation Provider are now in a position to pursue our own
individual company ambitions.
“With the investment CFH Systems has made
in our infrastructure, combined with our close partnership with UK-based liquidity
provider, CFH Clearing, I believe that we offer an unrivalled front-to-back
white label trading solution in Asia and beyond – and that we are now a major
leader in the Asian market.”
Jeff Chao, founder and COO of Global Market
Index (GMI), who set up CMAP, adds: “We are exceptionally pleased to have
helped CFH Systems to accelerate its growth in China and become one of the most
recognised brands in the region.
“Our focus is now on the GMI
business, and following the appointment of Ashraf Ebid as our global CEO and
subsequent explosive growth in just the past five months under Ashraf’s
leadership, we plan to evolve our core trading services and strengthen our
presence throughout the world,” he adds.
CFH has offices in Hong Kong, Tokyo, China, Denmark