EBENE, Mauritius, December 10, 2014 /PRNewswire/ --
Prime Mantle Corporation PLC ("PMC") announced today that it has completed the acquisition of Capital Market Services UK Ltd ("CMS".) The transaction received approval from the United Kingdom Financial Conduct Authority ("FCA") earlier this year and was completed on November 1st. PMC is a Republic of Ireland based holding company with several assets in the financial services space including the global retail FX broker/dealer FX Primus.
The acquisition of CMS represents a significant move upmarket for PMC. PMC hopes to leverage its balance sheet as well as its global sales and marketing reach to further expand CMS' CapMar Financial offering of institutional liquidity and prime-of-prime services in the FX, CFD and Metals markets. The transaction further allows PMC to leverage CMS' banking and counterparty relationships, proprietary technology, institutional offering and market expertise.
"We are very excited about this transaction. This is a win-win for both CMS and Prime Mantle. The acquisition provides us with a significantly more diverse offering as well as the much-needed pathway to the institutional market we've sought for some time now." said Terry Thompson, Director at PMC and President of FX Primus. "The realized synergies between the two companies will make our overall offering more robust and enable both FX Primus and CapMar to offer a more comprehensive product downstream to our customers. We are thrilled to have had the chance to add CMS to the PMC family of companies. CMS's decade and a half in the business, solid brand, rich tradition of excellence, infrastructure and experienced staff are an excellent addition to our portfolio. We believe that CapMar Financial will benefit substantially from our strong marketing capabilities and global sales network."
Thompson continued, "We intend on maintaining the same level of world class service that CMS clients have grown accustomed to over the years. As we have always emphasized, the focus will continue to be the clients and providing them with the best possible trading experience. We plan on devoting a large amount of resources towards enhancing CMS' proprietary technology and products and building on its already significant offering to its institutional client base."
Eugene Hawkin, CMS's Co-Founder and Executive Director said that he was "excited about the acquisition. I've been very impressed by the dynamic growth we've seen at PMC's FX Primus and I believe that we have found an excellent home for our firm. I think this transaction will allow CapMar to continue to operate independently at the high level of service our clients have come to expect of us while providing us with the additional infrastructure and resources necessary to further grow our business."
There were no announced changes in the management or directorship of CMS at this time and both parties expect the firm's operations to continue without much change for the foreseeable future.
About Prime Mantle
Prime Mantle is an Irish holding company whose companies include FXPRIMUS. FXPRIMUS offers trading in over 150 instruments including Spot FX, Metals, Commodities, & Global Equity CFD's. FXPRIMUS has won multiple global industry awards and is the first retail Forex brokerage to offer a Trust account option to all clients regardless of account size with an independent third party fund administrator to monitor the flow of client funds. FXPRIMUS offers razor thin spreads and all trades are straight thru processed to our Tier 1 liquidity providers via a state of the art fiber optic infrastructure providing lightning fast executions regardless of a trader's location. We offer prompt and responsive customer support and an industry-leading trader toolset that includes FXPRIMUS Education and Sirix Social Trading. This truly makes FXPRIMUS The Safest Place To Trade.
Learn more at http://www.fxprimus.com