Tag: Swissquote buys MIG

December 10, 2013 BY Gerald Segal

Swissquote closes MIG Bank merger today

Most MIG Bank employees are relocating to Swisquote's Gland HQ, clients moved over too. LeapRate Exclusive... LeapRate has learned that leading Swiss online trading firm Swissquote has formally closed today on its $70 million acquisition of MIG Bank. As both firms are licensed Swiss banks, and are also regulated elsewhere (UK, Hong Kong, and Dubai),…

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November 08, 2013 BY Gerald Segal

Swissquote to eliminate old AC Markets website

AC Markets and MIG Bank will soon redirect to Swissquote.com/fx. Leading Swiss forex broker Swissquote has sent a note to clients that it will soon eliminate the www.ac-markets.com website, which it has kept live since its acquisition of rival Swiss broker AC Markets three years ago. As most of Swissquote's eForex business was based on its…

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November 05, 2013 BY Gerald Segal

Swissquote acquisition of MIG Bank – $70 million

MIG Bank brand will disappear, as Swissquote (SWX:SQN) Q3 report provides more insight into the acquisition of its Swiss rival. Leading Swiss online broker Swissquote has reported its Q3 financials, which showed a relatively slow but profitable Q3 (more on that later). However the interesting part of the report shed more light on Swissquote's acquisition of…

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October 15, 2013 BY Gerald Segal

Swissquote CEO suggests more acquisitions are in the works

Swissquote has set up an internal fund of CHF 100 million ($110 million) geared to potential acquisitions. It looks like Swissquote's appetite for acquisitions might not be sated with its takeover of rival Swiss forex broker MIG Bank. Swissquote (SWX:SQN) CEO Marc Burki was quoted in an interview in Swiss financial publication L'Agefi (and as reported…

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September 27, 2013 BY Gerald Segal

Swissquote's MIG Bank acquisition – more details on payment

Hisham and Wissam Mansour will own 5% of Swissquote going forward. LeapRate Exclusive.... As we promised, some more details on the Swissquote acquisition of rival Swiss forex broker MIG Bank. Apparently the deal was done for a combination of cash and stock, fairly standard in this type and size of acquisition. Swissquote has paid 750,000…

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September 25, 2013 BY Gerald Segal

Swissquote buys MIG Bank to create the dominant Swiss forex broker

MIG Bank monthly forex volumes averaged $60 billion in the first half of 2013. This will once be known as the week of retail forex acquisitions. After seeing Gain Capital close on its purchase of GFT, Oanda acquire social and copy trading service Currensee, and FXCM buy FX research shop Faros Trading, comes potentially the…

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