M&A deal of the year: Ryan Nettles' Guru Capital completes acquisition of British FX broker ETX Capital - FinanceFeeds

M&A deal of the year: Ryan Nettles’ Guru Capital completes acquisition of British FX broker ETX Capital

Andrew Saks

Representing the first milestone deal since establishment, Ryan Nettles’ Guru Capital has today completed the acquisition of long established British FX and CFD brokerage ETX Capital

Arman Tahmassebi appointed COO at ETX Capital

Guru Capital today announced the closing of its acquisition of London based ETX Capital, one of the fastest growing international providers of multi-asset CFD products from UK private equity firm, JRJ Group. The transaction is closing after receiving approval from the UK’s Financial Conduct Authority (FCA). Additionally, Guru Capital partners Luca Merolla and Ryan Nettles have been appointed as non-executive directors to the ETX Capital Board of Directors.

Founded in 1965, ETX Capital has become one of the UK’s leading online brokers. Guru Capital intends to leverage the strong ETX Capital brand, its proprietary technology and its talented team to expand the business in the UK. The team also intends to grow the business globally through M&A activities.

Ryan Nettles, Managing Partner of Guru Capital, is a seasoned executive with extensive understanding of the FX industry, having spent several years at senior level at Swissquote in Gland, Switzerland, previously heading up important departments of brokerages in North America.

Established in June 2019,  Guru Capital set about its immediate task of seeking investment opportunities to acquire companies in the EMEA and APAC regions which have a special focus on the FX & CFD brokerage sector, asset management, and FinTech.

For Mr Nettles, who formed Guru Capital alongside Luca Merolla, who had also previously worked at Swissquote, the completion of the acquisition of a long established British electronic trading company with substantial standing represents a very good initial milestone.

As far as acquisitions go, this was a relatively quick route to completion, the initial offer having been accepted by ETX Capital at the end of May this year.

Read this next

Industry News

BlackRock opens up to Bitcoin investment

The two eligible funds are no lightweights and they contain more than $40.0 billion of assets between them

Industry News

Citi launches a new suite of futures trading algos

Implementation shortfall algorithms are designed to keep or reduce that cost differential (slippage) to a minimum

Inside View

FX brokers are beginning to not just talk about becoming their own ECN or exchange, they are doing it!

FX brokers who do capitalize on the importance of offering a full range of venue-listed products via genuine live market liquidity will be left behind. The b-book OTC world has limited future, and the companies at the top are already working on its replacement. Here is our full analysis

Industry News

China spent a year purging itself of global FX brokers. Now it is about to unleash its own monster

Saxo Bank and eToro knew what they were doing when they sold out to Chinese firms. We look at how the government purged the FX businesses for its own greed and own ends. Now may be the time to consider how to structure a Chinese FX company.

Industry News

The journey towards a consolidated European tape

The chair of ESMA, Steven Maijoor, has bemoaned the lack of such resources., famously saying in the past that: “After nearly 2 years of operating under MiFID II, we’re still lacking a reliable view of liquidity across the EU”

Industry News

Fund managers push back over the FCA clampdown on cryptocurrencies

Assets under management in these types of investments have risen 5 fold over the last 12 months to stand at around €2.30 billion today

Industry News

IG Group impresses with bumper interim figures and plans for a tastytrade in the USA

Not only did turnover increase substantially at IG Group, profitability did as well, and the business made £231.30 million in the first 6 months of the financial year

Industry News

Genesis launches FX Prime Trade Capture application in partnership with Brazilian broker-dealer XP Investimentos

FX Prime also acts as a productivity tool that captures FX & Rates voice business and streams trade activity directly into the Prime Broker while simultaneously serving as placeholder for books and records.

Inside View

Want to get your electronic brokerage business right in Australia? This is how

Now is the time to take heed of the brokers that are doing things the right way in Australia. Here is a full and open discussion with a company that is leading the way.