FTMO Acquires OANDA Global Corporation
A Czech-based retail prop trading firm, FTMO, has successfully acquired OANDA Global Corporation, a prominent player in the online trading sector. This deal has been in progress since earlier this year, with FTMO entering a purchase agreement with CVC Capital Partners’ CVC Asia Fund IV, pending the usual regulatory approvals.
While the financial details of the acquisition remain undisclosed, FTMO intends to run OANDA as an independent entity.
Final regulatory approvals came through for FTMO in November, allowing them to finalize the acquisition on December 1st. Founders Otakar Schuffner and Marek Vasicek view this acquisition as a significant step towards establishing a global trading leader, focusing on prop trading, brokerage services, and various related offerings.
OANDA stands out as a major digital platform for active traders, offering multi-asset trading along with currency data and analytics for both retail and institutional clients. Since its inception in 1996, OANDA has developed regulated operations and leadership in key financial markets worldwide, including New York, Toronto, London, Warsaw, Singapore, Tokyo, and Sydney. The firm has been under the ownership of CVC since 2018.
This acquisition marks another successful move for FTMO, which specializes in technology for education and support in proprietary trading.
Securing five regulatory approvals took around eight months, with the final approvals received in November, culminating in the acquisition on December 1st.
“Our focus will remain on our core modern prop trading platform, where we are among the leaders. Our vision is to assist traders at every level, including advanced prop trading, brokerage services, and beyond. OANDA, boasting licenses in eight major markets, aligns seamlessly with this vision,” FTMO co-founder and CEO Otakar Schuffner stated regarding the acquisition.
“With OANDA’s strong track record in complex regulated environments and a solid customer-first approach, we’re eager to collaborate with their team. This partnership will enhance the market for all, including our clients. Together, we will create a unique collective with a depth of expertise that hasn’t been seen before,” added Marek Vasicek, co-founder and CTO of FTMO.
OANDA CEO Gavin Bunbury remarked on the significance of this moment:
“Today signifies an important transition as OANDA becomes part of the FTMO ecosystem. Our strength has always been in our commitment to customer focus and operating as a regulated global entity. This acquisition will allow us to fast-track our growth and enhance the trading experience we provide to our customers.”
For this transaction, Milbank LLP (Hong Kong) served as legal counsel for CVC, while Nomura and Santander acted as joint financial advisors. FTMO engaged JPMorgan for financial advisory services and Latham & Watkins LLP for legal counsel.
