TradeFloor buys CCUBE

TradeFloor has finalised its acquisition of self-clearing online stockbroker OpenMarkets and the technology behind CCUBE’s wealth management solution as it attempts to build a trading ecosystem with a full suite of products for “planners, advisers and retail traders”.

TradeFloor, OpenMarkets and CCUBE now belong to one entity – OpenMarkets Group.

“These acquisitions will enable us to build an independent trading ecosystem where advisers and planners can come to find the best possible solutions for clients,” said TradeFloor managing director Ivan Tchourilov. “We’re also building dedicated products like OpenTrader, a trading platform for self-directed investors.

“We’ve already seen significant economic results come out of the OpenMarkets acquisition and have been able to fast-track our plans to strengthen our intermediary offering with the acquisition of CCUBE technology.”

Despite tripling its users over the past 12 months, CCUBE entered voluntary administration in February after failing to complete a capital raise as the financial fallout of COVID-19 hit home.

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Source: TradeFloor buys CCUBE – ifa