Dubai: Australia-based forex trader AxiCorp said it will acquire UK-headquartered One Financial Markets (OFM), through which it plans to strengthen its presence in the Middle East.
The deal is predominantly cash-based and will be subject to regulatory approvals, AxiCorp said in an emailed statement. OFM has been operating in the region through its Dubai office for more than 10 years and has a full retail licence from The Dubai Financial Services Authority (DFSA). Under the deal, AxiCorp will acquire all the staff, operations and licenses of OFM, a privately-owned FX provider. AxiCorp will retain the OFM brand, which has strong presence in the Middle East, Europe, South America and Central and South East Asia.
