Trading Point buys XM.com
Cyprus-based online trading group Trading Point, whose brands include forex broker XEMarkets and affiliates and IB partner program PipAffiliates.com, has announced that they have acquired the two-letter domain name XM.com. And, based on a quick visit to the XEMarkets.com website, it is very apparent that Trading Point is rebranding the operation as jst XM.
XM.com was not used before, it was just a domain name parked for sale (since 1998, it should be noted).
The sale of XM.com represents the second acquisition of a two-letter domain name in June. We previously exclusively reported on June 3 that UK spreadbetting giant IG Group had paid several million dollars for the IG.com domain name — previously in use as a Brazilian search portal — and that IG.com has gone live as IG Group looks to rebrand its operating companies as just IG.
While Trading Point won’t give an exact amount for the purchase, conversations with people in the domain name business lead us to believe that the purchase price was probably close to $1 million. The largest amount ever paid for a two-letter domain name was YP.com which went for $3.85 million in 2008 to AT&T, looking at the time to boost its Yellow Pages brand. IG had stated that its purchase of IG.com was the second largest such sale, after YP.com. The amount paid here for XM.com was probably not far behind that.
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