ABK Holdings is acquiring Cresco Capital Markets (UK) Limited, which is also popularly known as CrescoFX. The company is currently seeking approval from the FCA.
ABK Holdings JSC, which deals with several brands in the trading sector, seeks a new partnership with CrescoFx. Cresco Capita Markets (UK) Ltd, also known as CrescoFX, is a boutique broker based in London. In a press statement, the founders of ABK Holdings, Gokalo Icer and Murat Kutay, stated that they had already signed a contract stating the terms of the acquisition. The deal needs to be approved by the Financial Conduct Authority in the UK before going forward. The financials about the deal were not released on the press statement.
Details of the partnership
CrescoFX offers clients customized and innovative platforms that will create a seamless trading experience. These tools make it smooth and easy for the firm to handle complex trades. CrescoFX also provides a wide range of products that will enable traders to formulate better trading strategies. By partnering with CrescoFX, traders will have a superior edge in the market to help them remain proactive.
CrescoFX was started in 2011. The firm deals in boutique brokerage and its client base includes both retailers and institutions. The firm received its operating license from UK’s financial market regulator in 2017 and is now offering diversified services such as commodities, forex, equities, and other digital assets. The CrescoFX platform will enable traders to enjoy better prices and have access to excellent risk management tools.
Speaking during the acquisition, Murat Kutay stated that the partnership is taking place at the right time. With the increased demand for retail digital asset trading, the collaboration with CrescoFX will give clients access to the best technologies. Such technologies will help meet the increasing needs posed by the booming digital sector.
ABK Holdings’ principal operations are based in Turkey, and they have clients in different industries in the financial sector. This firm’s financial services are based around insurance, cryptocurrency, investments, Fintech, technology, and consultancy. As the firm states, they were acquiring CrescoFX to add to its portfolio and make sure that they offer better trading solutions to their clients. Their tools from CrescoFX will be helpful in platforms such as Icrypex, NYFX, and crypto exchanges.
With the bright future expected for retail trading, having CrescoFX in ABK Holdings’ portfolio will strengthen the firm’s offerings and give its users a superior set of services.