IronFX Global is delighted to announce a series of prospective transactions that will culminate in the merger between IronFX and FXDD Inc., one of the pioneers in the retail forex industry.
In conjunction with the merger, both companies will be effecting through a series of prospective transactions a reverse takeover of an existing public company, Nukkleus Inc.
Nukkleus’ goal is to create an industry leading, sector consolidation platform combining strong global retail and institutional trading flows covering FX, commodities, futures, CFD and equities with a cutting edge technological product suite and turnkey software and technology development capabilities. These contemplated transactions could potentially result in a global financial trading and financial technology group with operations and clients spanning more than 200 countries around the world, offices in 11 cities with more than 300 employees, covering the main global financial centers (New York, London, Hong Kong, Sydney and Johannesburg) as well as one of the most comprehensive regulatory licenses coverage in the world.
Nukkleus is supported by a veteran group of industry leading shareholders and prospective board of directors members. Its Chief Executive, Emil Assentato, was previously the Chief Executive Officer of Tradition North America, a leading inter dealer broker. Tradition North America is owned by Compagnie Financiere Tradition, which is a global brand in the inter dealer brokerage world. Mr. Assentato brings over 30 years of Wall Street experience to Nukkleus.
Find the formal announcement on the SEC website here
Read the full Press Release here
Commenting on the transaction, Emil Assentato, Nukkleus Chairman and Chief Executive Officer, noted:
The online financial sector consolidation is long overdue both in terms of merging technological backbones and creating efficiencies with respect to regulatory capital requirements, while ensuring a truly global product and service coverage. With Nukkleus we have a first mover advantage in creating value through the aggregation of selected online trading and financial technology assets. We are excited with the value creation opportunities present in the sector; on top of the initial transactions announced today, Nukkleus has options to acquire additional financial trading and financial technology assets to complement both product and geographical coverage of the sector. “
Commenting on the transaction, Craig J. Marshak, the transaction advisor to Nukkleus and a prospective member of the Nukkleus Board of Directors, noted:
“We structured this transaction to capitalize on the growing opportunities in both the financial technology side and the regulated brokerage side of the global retail forex industry. Our investment team has previously invested capital as a principal in several well known, industry leading players in the retail forex sector, and today, using our knowledge of the industry we intend to capitalize on a variety of opportunities for Nukkleus to expand the scope of its operations significantly through the aggregation and consolidation of industry assets.”
Commenting on the transaction, Markos A. Kashiouris, the founding shareholder of the IronFX Group and a prospective member of the Nukkleus Board, noted:
“Our core strategy always involved the introduction of an industry leading consolidation platform driven by outstanding localized service and product development, as well as, cutting edge technological backbone and multi locational regulatory coverage. By building strong on the existing operations of Nukkleus, as well as, the future contemplated transactions, we create unparalleled and long overdue global synergies that place us at the forefront of value creation within the sector.”
IronFX is determined to continue providing unsurpassable service for personalised, best of market trading conditions through bespoke round-the-clock coverage, delivered by one of the world’s largest and most accomplished client coverage teams