GCM Prime has just closed a deal to acquire the customer books and certain assets of Capital Market Services UK Ltd (CMS), an FXP International Ltd wholly-owned subsidiary. The acquired business unit focuses on providing institutional clients foreign exchange and CFD offerings and technology solutions.
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CMS clients were transferred last weekend when GCM Prime acquired a book which is dominated by brokerage firms. The deal also includes proprietary technology related to reporting and back office operations, CMS Liquidity relationships and some key personnel that support the business unit.
GCM Prime has also taken ownership of trading names including CapMarFX, CapMar Financial and CMSFX.co.uk. GCM Prime has been operating with the FX and CFD market for a little over a year and the deal is a substantial milestone for the company.
GCM Prime will strive to offer its clients the best possible trading conditions
Commenting to Finance Magnates, GCM Prime CEO, Adam Toro, said: “When I joined GCM Prime from FXCM about a year ago, it was to build an impactful organization in the tier 2 trading space. The acquisition of CapMar’s book of business and key Intellectual Property represents a significant step in achieving those goals. I would like to thank CMS Clients that have moved to GCM Prime for their confidence in our company.
"GCM Prime will strive to offer its clients the best possible trading conditions and in the near future expand its technology and liquidity offerings. In addition, GCM Prime will continue to offer its clients straight-through processing (STP) Execution in accordance to its FCA licence permissions as a matched principal broker,” he elaborated.
As previously reported in 2014 exclusively by Finance Magnates, Capital Market Services UK Ltd was acquired by Prime Mantle Corporation (PLC).
