Exclusive: O-SYSTEMS Acquired by Hong Kong-Based Company

Finance Magnates has learned that O-SYSTEMS, the multi-asset online brokerage solution provider, has been acquired last week in a major deal, that includes O-SYSTEMS' technology and brand name. Haim Lagziel, the CEO, and founder of the Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term provider which until recently had a major presence in the trading industry, refused to name the buyer but agreed to reveal that it is a large Hong-Kong-based company. The deal, which was inked last Friday after a long period of negotiations, was brokered by a UK-based third party with significant experience in the trading industry. Lagziel declined to comment on the price of the deal. As a part of this deal, the buyer will receive O-SYSTEMS’s Bulgaria-based R&D center, as well as its clientele – mostly consisting of Binary Options brokers. Commenting on the topic, Lagziel said to Finance Magnates: “The buyer was interested in our technological solutions. We are flattered to learn that our innovative approach with B2B automation and CRM solutions was appealing industry leaders.”

Apps are the future

According to Lagziel, the company was especially interested in app-based O-SYSTEMS’ customer acquisition solutions. “Many brokers still live in the desktop mode, but the future of the industry is apps,” Lagziel said. He pointed to a recent report published by Plus500 which revealed that most O-SYSTEMS' revenue came from mobile, and more specifically from mobile apps. Plus500 has recently extensively invested in its mobile applications across different platforms. “Those who will create the right app, with a proper technology, will manage to onboard customers in the new world,” Lagziel also criticized brokers’ marketing practices. “Most are working with affiliates, without holding any in-house marketing staff. That’s definitely not the way to go.”

A shift to crypto

Lagziel, an industry veteran, is currently a partner at the cryptocurrency trading platform provider Cryptency. He stated he will continue to be involved in the financial sphere. “We’re staying in the crypto and forex industries”, he noted. Cryptency was launched in July of last year in cooperation with Vista Brokers, a CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term-regulated firm. Established in 2011, O-SYSTEMS provided a B2B trading platform for FX and CFDs brokers with an emphasis on automation. The service helped brokers to better understand the identity and preferences of their clients, thus increasing revenue and cutting overall costs.