ROSTRO Financial Group recently grabbed headlines after it had acquired FX and CFDs broker, Scope Markets. But, not much about the company is known to the public. What is the company offering? What are its plans next?
Finance Magnates recently sat down with Roger Hambury, ROSTRO’s owner and Founder, and Michael Ayres, its Group CEO. Together they discussed the company’s business in detail, plans and the challenges it has faced so far. Additionally, they have detailed the company’s plans with Scope Markets, which is going to be an integral part of it.
1. Can you please explain the services of ROSTRO first? Where does it fit in this competitive industry?
Roger Hambury: ROSTRO was created to build a B2B and B2C multi-asset brokerage that also caters to a wide range of complementary financial services across banking, payments and digital assets. The advantage we have is that we are building the group out in blocks and have attracted immense talent in our people and the team from Scope Markets Group. We are looking forward to a bright future for the company.
Michael Ayres: We saw there was an opportunity in the market to bring together a group that can service both the e-trading and voice side of the business. We cover execution and clearing for hedge funds, asset managers and professional traders, and now we will add the B2B2C and B2C target market with the acquisition of Scope Markets. There are plenty of synergies in terms of product offering and this, in turn, will only benefit the group's customers.
2. Michael, you have had magnificent work experience in the trading industry so far. Why did you join Rostro? How is this company different from others?
Michael Ayres: Having known Roger for several years, making the move to Rostro and to help build the group was an easy decision for me. We share a lot of the same values especially putting real emphasis on the customer experience and adding value across our client’s investment interaction with the company.
There was also motivation to create an environment internally that empowers our staff to make decisions and build on the trust we have in them in their respective areas of expertise. Company culture is, therefore, at the forefront of my mind as we grow the company. We have managed to attract some experienced team members already who are a great fit culturally, and within the Scope Markets team, I am sure we will find many more.
3. Roger, you founded ROSTRO in 2020, right in the middle of the pandemic. Why did you choose that launch time? And did you face any challenges?
Roger Hambury: The pandemic presented the market with plenty of challenges but also opportunities. The industry benefited from an increase in volatility, coupled with an influx of customer engagement, with new audiences drawn towards investing. I launched the business with a focus on key customer and partner relationships, this allowed us to build gradually but on a solid foundation.
There were challenges, of course, none less than the enormous shifts in market conditions, however, I’ve been proud of how the team has coped and using their vast experience, we were able to manage these effectively and come out the other side. It also saw many people reset, respect the work-life balance more and embrace new working conditions. This will be something we look to continue to incorporate into the business as we grow.
4. ROSTRO recently acquired Scope Markets in an all-cash deal. What are your plans with the FX and CFDs broker? Can we expect more deals of ROSTRO in this space?
Michael Ayres: Scope Markets are a brand that we have known for a long time, and we were really impressed with what the current shareholders and team had built. It presented several areas that fit within our strategic roadmap, and therefore, the decision to move ahead with the acquisition was an easy one.
We will be building upon the regions and licenses that the group has in place already, with emerging markets the focus for B2C and then global exposure for the B2B segment. We are also planning to introduce a range of institutional products and services that will complement well within the group's geographical reach. We look forward to sharing details around many of the new products and services as we progress.
Roger Hambury: Rostro will look at additional acquisition targets within both the financial services and fintech space as we go forwards. Scope Markets were a key target for us and one we are extremely pleased to add to our group. There are key opportunities in technology that interest us, and we will also be exploring other licenses and business models that complement the group.
5. Scope Markets has become a major brand in the industry. How will the acquisition affect its existing customer base? Is it going to be a standalone business?
Michael Ayres: You are absolutely right, and it is a brand that has truly taken to bringing the investment products it offers to new markets across the globe. Existing customers will continue to receive the high level of service and care that they do today, plus a host of new products and services that the group will offer in the near future. We will expand both the range of markets customers get access to along with the client-facing applications to interact with the business. The brand will continue to operate as a standalone entity within ROSTRO Group, and we are confident of being able to build on our already strong market presence as we grow the product offering and take the company forward.
6. And, is the Scope Markets team joining ROSTRO? In what areas is the broker going to focus its services on in the future?
Michael Ayres: One of the key drivers towards the acquisition was the people. I have been impressed by what I have seen, and we are benefiting from the fact there is already a set of experienced and skilled people within the organization. The team will come under the ROSTRO Group, and we can already see lots of operational synergies in the teams from both sides for our future. Our vision to create a full-scope financial services group is firmly set and one that we are already making significant progress with.
The product is important to us, we want to build this out at Scope Markets and fine-tune the already stellar service offered to clients. It’s important for our vision as a group to put the client experience at the heart of what we do. So, investing in resources and the product as a whole will enable the team to push the offering even further.
7. What can we expect from ROSTRO in the future? Can you reveal the company’s short and long-term goals?
Michael Ayres: Short-term the focus is on working through the change of control process and bringing Scope Markets into ROSTRO Group. We have some exciting plans for the new group once we take control and are focused on ensuring those are delivered and executed effectively. There is so much further growth potential within the business of Scope Markets and the team there have done a brilliant job in getting to this stage, now it is about building for our next growth cycle.
Roger Hambury: Long-term we will be a full scope financial services group, covering brokerage, banking, payments and digital assets. There is already a lot of progress being made in each business division for the group, and we are confident that we will bring something unique to the market. Our ambitions are big but the team we have is our USP and what will drive us forwards.
