Swissquote acquired ACM for CHF 41.7 million ($43 million)

Swissquote acquired ACM explained by professional Forex trading experts the “Swissquote acquired ACM” FX trading team.

Swissquote acquired ACM

Some background: On October 27, 2010 Swissquote Bank Ltd. announced that it had acquired online Forex firm ACM. This followed on the heels of new rules in Switzerland governing retail Forex, in which firms offering Forex trading were required to apply for a full banking license. Not surprisingly, several of the smaller Forex firms in Switzerland subsequently either closed shop, moved outside the country, or sold out to one of the larger firms – notably ACM, Dukascopy and MIG. While MIG and Dukascopy each received a Swiss bank license, ACM was denied, leading to its sale to Swissquote.

At the time of the acquisition, the parties agreed not to disclose the acquisition price or terms. The only piece of financial data released was that ACM had earned revenues of CHF 27 million (approximately $28 million) in the first nine months of 2010.

Swissquote acquired ACM Conclusion

For more information about currency trading brokers visit Forex brokers comparison website, Tip foreign exchange trading
experts please by share this article about Swissquote acquired ACM

In this article