The United States Securities and Exchange Commission has come to the news that the Commission has agreed to INTL FCStone's acquisition plan of GAIN Capital.

It is understood that the boards of directors of both companies have approved the implementation of the acquisition plan. According to the plan, Fusitong will pay $6 per share in cash for Gain's equity, which is valued at $236 million.

Under the terms of the agreement, the acquisition is expected to be completed by the middle of this year. Data show that after the completion of the acquisition proposal, the trading volume of Fusitong will be greatly increased. Fusitong official response, customer flow alone, the company will increase by $1 billion.

Sean O'Connor, former chief executive officer of Fusitong, will take over the combined company after the acquisition is completed, according to people familiar with the matter. Glenn Stevens, formerly Gain's chief executive, will be responsible for the combined operations of the former Gain Group.

It is understood that after the completion of the acquisition, Fusitong company not only added 130,000 customer members, but also added a new digital platform to its global financial network, expanding the company's global reach.

In fact, this is not the first acquisition proposal of Fusitong company. A month earlier, Forstone had acquired German derivatives company GIROXX GMBH.

In November 2019, Fusitong signed a contract with Spotex. From this point forward, Forsitone customers will have access to Spotex's electronic communication network trading platform.

In October 2019, the company announced the completion of the acquisition of the futures, options economics and clearing business of UOB Bullion Futures Limited in Singapore.

In July 2019, the company acquired Fillmore Advisors, an outsourcing trading company, expanding the company's business scope into equities, financial derivatives, credit, interest rates and commodity trading. In January of the same year, the United States Securities and Exchange Commission also approved the acquisition of GMP Securitiles LLC by Fusitong.

Industry insiders believe that after launching FXEprice, an instant trading network platform, in 2018, Fusitong launched a global large-scale acquisition plan in 2019. With the acquisition gradually completed, Fusitong will challenge Interactive Brokers' financial dominance.

Source: FX110