AxiCorp Acquires Star Financial Systems

Long term FX industry executive Dan Moczulski’s company Star Financial Systems has been acquired by Australia’s AxiCorp after 12 months of discussions.

Following more than twelve months of talks, Australian owned Forex and Contract for Difference trading provider AxiCorp has announced it will acquire the UK-headquartered trading technology company Star Financial Systems.

Under the cash-based deal, AxiCorp will acquire all the technology, staff, operations and licenses of Star, though AxiCorp’s Chief Executive Officer Rajesh Yohannan is quick to point out that doesn’t necessarily represent a signal for radical change.

“We view this as a partnership, not an acquisition”, he says.

“Star has built an enviable reputation and loyal clientele by doing things its own way, under its own direction, and we’re not concerned with trying to change that. What AxiCorp can and will do is add greater liquidity and risk management to the already excellent trading platform APIs and back-office infrastructure.”

Dan Moczulski, Chief Executive Officer at Star Financial Systems, echoes those comments and says that synergy was significant in sealing the deal.

“I’m delighted Axi liked our approach and wanted to invest in it”, he says.

“Given AxiCorp’s focus on continued growth and expansion, our expertise providing stable trading infrastructure in the multi-asset arena is a natural fit. We’ve now got the opportunity to bring our integrated service to thousands more clients around the world.”

The acquisition of Star is the latest in a busy period of purchases for AxiCorp which has seen them bring the likes of One Financial Markets (OFM) and AxiForex under their corporate umbrella. In a highly competitive industry where consolidation plus regulatory and technological change are cited as looming threats, acquisitions have increasingly become a part of AxiCorp’s strategy.

Mr Yohannan said “Most obviously this approach greatly strengthens our end-to-end service and makes AxiCorp a more compelling choice for traders – for example, the addition of Star immediately gives us greater flexibility with what we can offer IB partners and affiliates – but it also encourages future business investment. With each successful acquisition, we’re able to prove to potential partners that we have a clear strategy in place, are focused on growth and have the ability to integrate.”

“I’m proud of the way AxiCorp provides a wide range of products through market-leading platforms, but we’re aware that clients want increased flexibility not just on what they trade, but how they trade. The partnership with Star means we’re able to offer thousands of asset classes, across multiple trading interfaces, optimised specifically to each and every client and institutional partner.”

With 2019 reports showing AxiCorp and its flagship AxiTrader brand experiencing upward results across the board – from increasing and record trading volumes and new trading accounts through to social media influence – the company begins 2020 firmly entrenched in the upper echelons of brokers worldwide, a position from which Yohannan says they will build further.

“With AxiCorp’s own specialties plus the collective strength of new partners like Star, I’m extremely confident that we’ll continue growing and keep working towards our goal of being the world’s foremost online broker” concluded Mr Yohannan.

Read this next

Retail FX

Banxso announces 8.7% interest rate on deposits in South Africa

“With Banxso, they can enjoy the benefits of both worlds – earning competitive interest and having the freedom to trade, all within the same platform.”

Industry News

FINRA to publish transaction details in U.S. Treasury securities

“Consistent with our longstanding practice, FINRA is introducing greater transparency in a calibrated and careful manner, benefiting liquidity and resilience in this critical market while also mitigating potential information leakage concerns.”

Institutional FX

OpenYield launches “cheap and easy” fixed income trading for brokers

“We’re on a mission to make bonds cheap and easy to trade, and are excited about the opportunity to build generational capital markets infrastructure.”

Digital Assets

Sumsub and Mercuryo publish a guide for VASPs: “Mastering Travel Rule Compliance”

“At Sumsub, we’ve concentrated our efforts on filling the gap in understanding the complexity of Travel Rule regulation and helping organizations find the best solution to stay safe and compliant while minimizing costs and avoiding potential risks of non-compliance. This guide we created with Mercuryo, our trusted partner, is the ultimate navigation tool all VASPs can consult.”

Digital Assets

Bitget Wallet Leads with Record Swap Volume & New Crypto Innovations

This week, Bitget Wallet achieved a milestone by surpassing Metamask with a record 388,757 Swap order transactions, securing the global lead. The significant 7-day trading volume, almost 68,000 more than its rival, underscores its liquidity and user trust. This robust activity signals Bitget Wallet’s prominent role and reliability in the dynamic crypto market.

Digital Assets

Embarking on a Digital Currency Journey

Imagine you’ve stumbled upon a treasure map, leading you to untold riches hidden in the vastness of the internet. Instead of gold coins and jewel-encrusted goblets, this treasure comes in the form of digital currencies, the modern-day loot coveted by many.

Reviews

Traders Union Experts Share The Trading Analyst Review For 2024

Navigating options trading in rapidly shifting markets poses a considerable challenge. This is where options trading alert services become invaluable. They aid traders in keeping abreast of evolving opportunities and market trends. In this assessment, Traders Union experts scrutinize The Trading Analyst alert service to ascertain its efficacy. 

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

<