Boston-based Retail FX brokerage group BMFN (short for Boston Merchant Financial Ltd.) and Sweden-based FX trading technology solutions provider Fair Trading Technology (FTT) have announced that they have entered into a strategic partnership, with the aim of benefiting from each other’s core competencies.
Paul Belogour, founder and director of BMFN says:
While BMFN over the years successfully has managed to expand its brokerage business globally, based partly on technology that has been developed in-house, we have not really looked at providing neither technology solutions nor liquidity to other market participants. With this strategic partnership with FTT, we can utilize the white label capabilities of FTT and transfer knowledge and solutions between the companies to provide better solutions for the clients of BMFN and FTT.
The partnership has so far resulted in two new lines of business:
- FTT Markets – a brokerage, aiming at Introducing Brokers and retail clients globally with innovative solutions.
- BMFN Prime – multi-jurisdictional provider of liquidity and technology.
Finn Jakobsen
FTT Markets and FTT Sweden will be managed by Jonas Eldborn, who will be replacing Finn Jakobsen as CEO, and by Tanner Serifler, who will continue in his role as CTO. Finn Jakobsen will continue to be involved with FTT as Executive Director and member of the Board of Directors of FTT Sweden AB.
BMFN Prime will be managed by Finn Jakobsen as Executive Director and by Mark Bringans, who, in addition to this, will continue in his role as CEO of BMFN Pty Ltd., the company’s ASIC licensed subsidiary. It appears that the prime brokerage and liquidity services will be offered via the ASIC licensed company.
To support this business partnership, Boston Unisoft Technologies, a company within the BMFN group of companies, has acquired a controlling ownership interest in FTT Sweden AB.