The renowned forex trading company, FXone has announced that the company will be acquired by Seabury Group, a leader when it comes to Global Investment Banking. Incidentally, Seabury Group is also a big name when it comes to IT software and Advisory. The group has more than 200 people in offices spread across 4 different continents. Incidentally, FXone is the only trading company to have a fully featured automated trading platform that works on the basis of standard spreadsheet logic for all the available developments.
After the acquisition is completed, FXone will be operating as a subsidiary of the Seabury Group and the new name of it will be Seabury Financial Solutions LLC. The company will now be based in Midtown Manhattan. The trading platform, however, will continue to be FXone. The Chief Executive Officer and Founder of FXone, Rosario M. Ingargiola, will become the new CEO and President of Seabury Financial Solutions LLC. Rosario will also be a part of the Board of Directors of the new company. The software engineering team of FXone will be kept intact and Jay Marvin, the current CTO of FXone will also hold the same position in the new company.
Rosario, after the official announcement on the acquisition was made, stated that he is elated with the fact that FXone will now, in its truest sense be a global forex trading platform. He added that he is excited to work with new people and exchange ideas to make the forex trading platform even better. Rosario commented that FXone is a distinct automated trading platform as the users can create custom analytics, only by having some sort of basic knowledge on the spreadsheets such as Excel. The users also don’t need to have any knowledge on the traditional programing. FXone, incidentally, is already used by some of largest investment banks and hedge funds across the world.
The CEO and Co-Founder of the Seabury Group, John E. Luth stated that FXone is expected to be the perfect complement for the Seabury Group of companies. He added that FXone will help them to leverage on the investments they have already made on the existing broker dealer subsidiaries, thanks to FXone’s market leading technology. Luth also expressed hope that the enterprise software applications of FXone and Seabury will have significant synergies to become an ultimate solution for the forex traders.