Rostro Group completes full takeover of Scope Markets
Rostro Financials Group, a fintech group focused on capital markets and digital assets, has completed the acquisition of Belize-based FX and CFDs brokerage Scope Markets.
The financial details of the transaction were not disclosed, but Rostro has bought the retail broker in an all-cash deal, the company said in a statement.
Apparently, Scope Markets will continue to be led by CEO Jacob Plattner, who has also been a major shareholder since he resigned his position as managing director at GKFX. Scope Markets, which is domiciled in Belize and regulated by the International Financial Services Commission (IFSC), was controlled by UAE-based entrepreneur Serkan Ismailoglu. The Middle East-focused broker also operates regulated entities in Africa, Cyprus and Mauritius.
Commenting on the deal, Plattner said the move marks the long-term goal of the company’s shareholders to exit the business and realise a significant return on their investment.
“The completed acquisition of Scope Markets presents another step in the journey of Rostro Group. In the last 12 months we have completed on several acquisitions to drive our expansion, all funded through free cashflow. The acquisition of Scope Markets presents the largest and latest acquisition, signalling our intent to be a leading provider of financial services within our sector globally. The team and I are very excited about the future,” said Rostro Group founder Roger Hambury.
Rostro is led by Michael Ayres
The deal also plays into a long-term vision for Rostro, which operates multi-regulated brokerage houses that provide execution, and clearing of both listed securities as well as OTC derivatives. In addition, the group offers banking, alternative finance, and digital asset storage with both on and off ramp solutions.
Rostro is led by Michael Ayres, the former chief operating officer at Equiti Capital, formerly known as Divisa Capital. Prior to Equiti, Ayres, who has over 14 years of experience in the forex industry, was the operations director at GKFX. He served with the UK-based CFDs broker and spread better for more than five years, starting from November 2013 until he left for Divisa in 2018.
“We are delighted to have now completed the change of control process, bringing Scope Markets under the Rostro Group umbrella. We will now be focused on leveraging the solid foundations that have been laid by an amazing team. We believe that our unique perspective and expertise will drive the company forward and bring even more value to our customers in the markets across the globe,” said Rostro Group CEO Michael Ayres.
