Fast-growing Foreign Exchange specialist Ballinger & Co. and global financial brokerage ED&F Man Capital Markets Ltd. (MCML) announced they have entered into a partnership.
The collaboration between the two companies combines Ballinger’s deliverable Foreign Exchange offering for corporate and institutional clients with MCML’s capital markets expertise, tier-one settlement capabilities and global footprint.
In their partnership, MCML will provide Ballinger with spot and forward FX liquidity, enhancing their capacity to offer flexible terms to clients via a credit facility. Ballinger has secured £10 million of new funding and facilities from MCML and other undisclosed investors.
Gary Pettit, Chief Executive Officer UK, ED&F Man Capital Markets, commented:
Our collaboration with Ballinger is a perfect example of our ability to be nimble, entrepreneurial and to work with partners to bring together best in class solutions for our clients. I am sure that this will be the first step of many in our journey together.
Tom Dudderidge, CEO of Ballinger & Co., added:
Entering into this partnership with ED&F Man Capital Markets is a landmark moment for Ballinger. MCML’s liquidity and settlement capabilities will revolutionise our client offering, their team is world-class, and we look forward to deepening our collaboration. It concludes what was a transformational year for us and, looking ahead to this year, we are set to capitalise on our ambition to become the market-leader in the Deliverable FX space.
The announcement of the collaboration comes at a pivotal point in Ballinger & Co.’s expansion. Ballinger traded over $1.75Bn of FX on behalf of its clients in 2020, achieving more than double its projected revenue. The headcount in its London office increased to 19 people.
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.