Plantation FL, November 16, 2011 – TradeStation Group, Inc. (“TSG”) today announced the acquisition of IBFX Holdings, LLC (“IBFX”), an innovative provider of forex trading services to 27,000 individual traders, fund managers and institutional clients worldwide. Under the terms of the acquisition, which has been unanimously approved by the Boards of both companies, TradeStation Technologies, Inc., a wholly-owned subsidiary of TSG, acquired from Interbank FX, LLC, a Utah corporation and one of the wholly-owned operating subsidiaries of IBFX, the proprietary risk-management software of Interbank FX, LLC, and immediately thereafter TSG acquired all of the ownership interests of IBFX from its members. Within the next 30 days, Interbank FX, LLC (the primary Forex operating company of the IBFX group) will be merged into TradeStation Forex, Inc., a Retail Foreign Exchange Dealer registered with the Commodity Futures Trading Commission and a member of the National Futures Association, and, as a result, all of Interbank FX, LLC's accounts will be transferred to TradeStation Forex and it will be operated as the "IBFX Division" of TradeStation Forex. IBFX Australia Pty. Ltd. (“IBFXAU”), an Australian company regulated as a member of the Australia Securities and Investments Commission (“ASIC”), will also operate as a subsidiary of TSG.
“This is a win-win for IBFX and TradeStation clients and makes TradeStation a global leader in forex trading, dramatically expanding our customer relationships and creating a global operating presence,” said Gary Weiss, President of TradeStation Forex, Inc. “IBFX’s proprietary forex tools and services and its focus on customer care will now be backed by the financial stability and trading technology leadership of TradeStation. In time, TradeStation forex clients will benefit from technology offered by IBFX using TradeStation’s award-winning, market analysis and trading platform.”
“Since IBFX’s inception in 2001, our goal has been to provide our clients with the best possible forex trading resources and experience. I believe this acquisition by TradeStation is the best way for IBFX to continue to fulfill that mission,” said Todd Crosland, chief executive officer of Interbank FX. “I believe this combination will benefit both IBFX clients as well as TradeStation clients and am thrilled to take part in this collaboration.” Going forward, Mr. Crosland will head the IBFX division of TradeStation Forex.
