Header help text

Start trading with a free $30

There is no better time than now
Your first deposit is on us


Grab your $30 from XM

Forex Industry
by Seth Parker on March 6th, 2020

Moscow Exchange to acquire a forex platform developer

The Supervisory Board of the Moscow Exchange approved the conclusion of an agreement acquiring a minority stake in BierbaumPro AG and further phasing out up to 100% of the company’s shares over three years.

According to the release of the largest Russian trading platform, the amount of the transaction will depend on the dynamics of the operating and financial performance of the company. The Exchange is counting on the further development of the NTPro platform in close cooperation with the current team.

It is noted that BierbaumPro is an owner of NT Progress, a developer and owner of the NTPro platform for over-the-counter trading of currency market instruments. Shares of NT Progress is the main asset of BierbaumPro.

Since its foundation in 2016, NT Progress has grown from a startup into one of the largest providers of platform solutions in the Russian OTC market for electronic trading of foreign currency instruments with a client base of more than 30 banks.

The platform offers customers services in liquidity aggregation, matching and algo-execution in a wide range of currency instruments.

The average daily turnover of the NTPro platform in 2019 amounted to about $ 4.5 billion.

Thus, the partnership between the Moscow Exchange and NT Progress will expand the range of opportunities for customers of both companies and allow them to receive flexible and modern NTPro trading solutions in the field of foreign exchange operations in combination with clearing and settlement services of the Moscow Exchange.

Igor Marich, who is a member of the Moscow Exchange’s Management Board declared that the agreement to acquire the NTPro platform developer was an essential step in implementing the new strategy of the Moscow Exchange, which envisages the Exchange entering into adjacent fast-growing market segments.

He also added that by adding the services and functionality of the over-the-counter currency market to the product line, it would be fully possible to satisfy the customers’ needs.

Vyacheslav Kashigin, who is CEO of NT Progress stated that the partnership with the Moscow Exchange opened a new page in the development of the company and confirms the confidence that the team had recognized market competencies in building high-tech trading services. 

He was looking forward to long-term interaction and cooperation.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

More content by Seth Parker

Comments (0 comment(s))