Breaking: BUX Sold Its CFDs-Offering UK Entity in a ‘Divestment Process’

Tuesday, 16/07/2024 | 04:35 GMT by Arnab Shome
  • The FCA-regulated entity offered CFDs and financial spread betting services.
  • Earlier, the Netherlands operations of BUX were sold to ABN AMRO.
BUX Markets and APM Capital

BUX Financial Services, the UK unit of Netherlands-based BUX, has been sold to Asseta Holding, the parent company of UAE-based investment firm APM Capital. Announced today (Tuesday), the acquisition came after ABN AMRO completed the acquisition of BUX’s Netherlands operations, which is operating as a neo-broker.

A New Owner for BUX UK

Regulated by the Financial Conduct Authority (FCA), the UK unit of BUX offers contracts for differences (CFDs) and financial spread betting services to retail and professional clients under the brand BUX Markets. The acquisition did not come as a surprise, as BUX had already revealed its plans to sell the business last year. APM Capital also offers CFDs trading services.

Months ahead of the acquisition deal, BUX Markets closed its operations for “re-evaluating its product offering.”

A screenshot of the website of BUX Markets
A screenshot of the website of BUX Markets

“We are in the process of divesting all the remaining regulated subsidiaries of BUX Holding,” said Yorick Naeff, CEO of Netherlands-based BUX Holding. “With the sale of the Netherlands, and now the UK-based business, only the Cyprus-based business remains.”

BUX also offered CFDs trading under its Cyprus-registered entity. Similar to BUX Markets, the Cypriot entity closed its CFDs platform, branded as Stryk, and transferred the customer accounts to AvaTrade. The Cyprus-registered entity, BUX Europe Limited, still holds a Cyprus Investment Firm (CIF) licence.

Regarding the acquisition, BUX Financial Services’ CEO, Salim Sebbata, said: “This acquisition marks a new chapter for BFS, one that promises growth and delivery of innovative financial solutions to our clients. APM Capital's reach and robust resources will undoubtedly elevate our capabilities and market presence.”

Expansion Efforts of Asseta Holding

The latest press release detailed Asseta Holding's acquisition of BUX Financial Services as a strategic step toward its ongoing international expansion. Furthermore, it has expanded APM Capital's investment portfolio.

However, the companies did not disclose the terms and financials of the acquisition deal.

“The UK market is a crucial component of our expansion strategy, and BFS’s strong reputation and client-centric approach align perfectly with our vision,” said Disha Rajdev, Co-Founder of APM Capital. “We look forward to working closely with the talented team at BFS to drive growth and deliver exceptional value to our clients.”

BUX Financial Services, the UK unit of Netherlands-based BUX, has been sold to Asseta Holding, the parent company of UAE-based investment firm APM Capital. Announced today (Tuesday), the acquisition came after ABN AMRO completed the acquisition of BUX’s Netherlands operations, which is operating as a neo-broker.

A New Owner for BUX UK

Regulated by the Financial Conduct Authority (FCA), the UK unit of BUX offers contracts for differences (CFDs) and financial spread betting services to retail and professional clients under the brand BUX Markets. The acquisition did not come as a surprise, as BUX had already revealed its plans to sell the business last year. APM Capital also offers CFDs trading services.

Months ahead of the acquisition deal, BUX Markets closed its operations for “re-evaluating its product offering.”

A screenshot of the website of BUX Markets
A screenshot of the website of BUX Markets

“We are in the process of divesting all the remaining regulated subsidiaries of BUX Holding,” said Yorick Naeff, CEO of Netherlands-based BUX Holding. “With the sale of the Netherlands, and now the UK-based business, only the Cyprus-based business remains.”

BUX also offered CFDs trading under its Cyprus-registered entity. Similar to BUX Markets, the Cypriot entity closed its CFDs platform, branded as Stryk, and transferred the customer accounts to AvaTrade. The Cyprus-registered entity, BUX Europe Limited, still holds a Cyprus Investment Firm (CIF) licence.

Regarding the acquisition, BUX Financial Services’ CEO, Salim Sebbata, said: “This acquisition marks a new chapter for BFS, one that promises growth and delivery of innovative financial solutions to our clients. APM Capital's reach and robust resources will undoubtedly elevate our capabilities and market presence.”

Expansion Efforts of Asseta Holding

The latest press release detailed Asseta Holding's acquisition of BUX Financial Services as a strategic step toward its ongoing international expansion. Furthermore, it has expanded APM Capital's investment portfolio.

However, the companies did not disclose the terms and financials of the acquisition deal.

“The UK market is a crucial component of our expansion strategy, and BFS’s strong reputation and client-centric approach align perfectly with our vision,” said Disha Rajdev, Co-Founder of APM Capital. “We look forward to working closely with the talented team at BFS to drive growth and deliver exceptional value to our clients.”

About the Author: Arnab Shome
Arnab Shome
  • 6599 Articles
  • 96 Followers
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.

More from the Author

Retail FX