Banyan Software acquires trading tech provider FXCubic

abdelaziz Fathi

Banyan Software, which is based in the US and focuses on acquiring, building and growing successful enterprise software businesses, has acquired FXCubic, a trading technology provider for institutional and retail brokers. The financial terms of the deal and other specifics were not disclosed.

Founded in 2016 by Ege Kozan, Sencer Coltu, and Cem Kozanan, FXCubic will continue its operations post-acquisition with Ege Kozan retaining the role of Managing Director.

FXCubic’s platform is designed to provide retail trading brokers with low-latency access to a wide array of liquidity providers, such as banks and hedge funds. This technology equips brokerages with pricing data customizable to their preferences to offer competitive trading executions.

Per its website, Banyan Software operates as a buy-and-hold acquirer, offering expertise and resources to nurture the long-term growth of software businesses. With a workforce of over 750 employees spread across the US, Canada, UK, Europe, Australia, and New Zealand, Banyan was established in 2016 with a strategy of using permanent capital to uphold the legacy of its founders. The company works with both sellers who are looking to stay on in a management role but seek liquidity and those looking to exit completely. Banyan’s long-term plan isn’t to resell businesses down the road but aims to provide a permanent home for software businesses.

Commenting on the deal, Keith Bird, Operating Partner at Banyan Software, said: “Ege and his team have developed a remarkable platform that is driving significant value for retail trading brokers and their clients. We look forward to working closely with Ege and the entire FXCubic team to continue to build upon their incredible success.”

 Ege Kozan, Managing Director of FXCubic, added, “Banyan Software is the ideal partner to take FXCubic to the next level. Their expertise, resources, and commitment to preserving our company culture make this a win-win for everyone involved. We are excited about the opportunities for growth and innovation that lie ahead, while always prioritizing the service quality that are known for.”

Based in London and Cyprus, FXCubic has entered into the competitive finance technology landscape in 2017, offering pricing engine and order routing solutions. Its offering consists of bridging, aggregation, and risk management solutions to manage all the aspects of FX and CFD brokers’ offerings.

FXCubic API enables users to react to changes both in markets and their own books. It also allows for monitoring total exposure and adjusting markups for each instrument independently.

FXCubic has been actively expanding its network of partnerships with renowned technology providers in the financial industry. The company has recently announced successful integrations with TraderEvolution, CoinAPI, Refinitiv Elektron, and many others.

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