European neobroker BUX today announced the acquisition of the retail brokerage arm of Spanish broker Ninety Nine.
With the latest acquisition, BUX gains a stronger presence in the Spanish retail brokerage category.
Additionally, the deal allows Ninety Nine clients to continue investing with BUX.
Yorick Naeff, CEO at BUX, commented:
Yorick Naeff Source: LinkedIn
Thanks to this acquisition, Ninety Nine users will have access to a wide range of services provided by BUX, such as investing in Spanish, European and US stocks, ETFs, cryptocurrencies, fractional investing and the BUX Savings Plan. I warmly welcome Ninety Nine’s former clients and look forward to developing additional products to suit our Spanish clients.
The official announcement also noted that Ninety Nine will continue to operate but it will be focused on its B2B & B2B2C arms.
Javier Sanz Álvarez, CEO and founder of Ninety Nine, said:
We have been working for over a year and a half on our B2B strategy, and while it was a difficult decision, we have decided to focus all our efforts on it. However, our clients are still very important to us so we have been working with BUX to provide them with a great alternative to continue investing, including two free shares as a welcome gift, free migration to the BUX platform, and fees almost 50% lower than current ones. I believe our retail clients will be satisfied with this solution.
Earlier this year, BUX obtained a Cyprus Investment Firm (CIF) licence, allowing the broker to offer financial services in Cyprus.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
