GK Group Enters ASIC Territory by Acquiring Australia’s Fair Markets

Fair Markets, formerly ILQ, is being acquired by GK Group as a way into the Australian CFD market

Global Kapital Group recently reached an acquisition agreement with the Australia-based brokerage company Fairmarkets Trading and entered the Australian market.

As of the completion of the acquisition, the Group will offer its services in Australia.

GK Group is a multinational FinTech group providing Brokerage, Alternative Finance, Digital Banking and Corporate Banking services through its digital platforms in over 100 countries. It is the holdings company which operates GKFX.

With this acquisition, GK Group receives an ASIC license and brings its brokerage services to Australian clients.

Commenting on the acquisition, GK Group’s brokerage CEO Gökhan Erkıralp said: “We are pleased to have completed the acquisition of Fairmarkets Trading which marks an important milestone for our group. I believe this acquisition will strengthen our global presence and bring us one step closer to our goals.”

“A healthy combination of global experience and local expertise is the driving force behind our consistent expansion, and we are dedicated to delivering the best possible customer experience in every market we operate in” said Mr Erkıralp.

“The future of trading and investment heavily depends on constant innovation as the world is becoming more and more digitalized and people’s expectations shift towards a simpler and faster experience. We aim to fulfill all modern-day traders’ demands with simple and effective digital financial solutions” he said.

“we are happy to offer our services in Australia and very excited to step into a new market that has lots of potential” he concluded.

In November 2018 during a meeting in Sydney, FinanceFeefs spoke at length with James O’Neill, who is a qualified lawyer with his Master of Laws alma mater being from University of Sydney, and Executive Director of Fair Markets (formerly ILQ).

James O’Neill with Australia’s longest serving Prime Minister, John Howard

Mr O’Neill, who became a Graduate Member of the Australian Institute of Company Directors in 2017, detailed his interactions with two of Australia’s longest serving premiers, John Howard and Tony Abbott.

Mr Howard, who served as the 25th Prime Minister of Australia from 1996 to 2007, therefore being the second-longest serving Australian Prime Minister, behind only Sir Robert Menzies, who was in office for over 18 years. Prime Minister Howard was leader of the Liberal Party from 1985 to 1989 and from 1995 to 2007, and Mr Abbott, the 28th Prime Minister of Australia from 2013 to 2015 and Leader of the Liberal Party from 2009 to 2015. He served as Leader of the Opposition from 2009 to 2013. Abbott was first elected Member of Parliament (MP) for Warringah in 1994.

It was of great interest to gain an insight into the personalities of the two leaders, with Mr O’Neill explaining “John I have only met a couple of times but is someone whom I have much admiration. Tony I know very well and I actually ran for vice Chairman of his governance board but missed out by eight votes.”

From the perspective of our industry, which is a leading-edge technologically focused business which is often responsible for making tremendous advances in the entire financial markets system, it is encouraging indeed to see commitment from executives who have interests in furthering the cause of pragmatic policy as well as making innovations in one of the most important business sectors in the world.

Read this next

Digital Assets

SEC denies First Trust Advisors-SkyBridge application for Bitcoin ETF

The US Securities and Exchange Commission (SEC) has again rejected another bid to list a spot bitcoin exchange-traded fund (ETF), which is widely seen as a proxy into crypto for millions of retail investors.

Technology

Crypto fund Modus.Trade taps Gold-i to manage its technology infrastructure

Modus.Trade, which operates an investor network, online learning platform, and suite of algorithmic trading strategies, has selected FinTech company Gold-i to manage its entire technology infrastructure.

Industry News

Ripple’s “biggest victory” triggers XRP Holders’ request for unprivileged SEC meetings

“The biggest victory for Ripple and XRPHolders, from Judge Netburn’s recent decision, isn’t necessarily the email with the Draft version of the Hinman speech.”

Retail FX

Fintech Alpaca poaches Pepperstone Cyprus head Victor Zachariades

Victor Zachariades, who joined Pepperstone in 2019 to head up its Cyprus operations, has left the FX firm to join Alpaca, a stock brokerage that allows developers to build apps, services, and trading platforms.

Industry News

Public.com acquires HyperCharts to improve broker’s data visualization

“One chart is worth 1,000 numbers. We built HyperCharts to make financial analysis easy, fun, and approachable for the masses by turning complex SEC filings into simple, interactive charts.”

Institutional FX

FX HedgePool launches mid-month roll cycle for better pools of peer liquidity

“By introducing this new cycle, we’re offering the buy-side greater choice with respect to accessing safe and transparent pools of peer liquidity.”

Digital Assets

Robinhood launches Beta version of crypto wallet

Wallets will allow Robinhood users to send and receive their crypto from Robinhood to external crypto wallets, fully connecting Robinhood crypto holders to the greater blockchain ecosystem for the very first time – a major milestone for the broker’s venture into crypto.

Industry News

JKO Play drops out of running to acquire Playtech

A consortium called JKO Play, led by former Formula 1 boss Eddie Jordan and gambling industry veteran Keith O’Loughlin, has pulled out of the race to acquire Playtech.

Institutional FX

ABN AMRO launches fractional investing infrastrucutre, BUX is first broker client

“The launch of fractional investing marks an important new chapter in the normalization of investing in Europe.”

<