London-based BidFX System Ltd, a cloud-based digital foreign currency trading options supplier, has rebranded its company identify to SGX FX Techniques UK Ltd, echoing the branding of its dad or mum Singapore Change (SGX).
In line with the newest Firms Home submitting, the company’s identify has been formally modified immediately (Friday). Nonetheless, the corporate’s commerce identify seems to be the identical: BidFX.
The company rebranding got here greater than three years after SGX fully took over the possession of the Lodon-based firm. The Singaporean bourse operator acquired an 80 p.c stake in BidFX in mid-2020, including to its present holding of the opposite 20 p.c. This offered SGX with full possession of BidFX.
BidFX was established in 2017 by Buying and selling Display. Whereas its headquarters stays in London, it additionally operates from places of work in Singapore, Hong Kong, New York, Sydney, and Milan.
The choices of BidFX embrace a cloud-based FX buying and selling expertise platform, options for order administration programs, and customised liquidity entry. It primarily targets hedge funds, asset managers, company treasury desks, or some other buy-side members with its options.
A Rising Firm
Earlier this yr, Finance Magnates reported that BidFX’s income in 2022 jumped 17.4 p.c, thus surpassing $34.4 million. The determine was generated from the corporate’s world operations.
Nonetheless, the working revenue of the UK firm dropped to $2.3 million from $3.5 million, primarily due to a big leap in administrative charges, which was $32.6 million within the final fiscal yr in comparison with $26.4 million within the earlier yr. It ended the yr with a internet revenue of $2.1 million, down from $2.9 million within the earlier yr.
Other than BidFX, the businesses behind one other well-known FX model just lately modified their company identification. A number of firms working the FXCM brokerage model have modified their company names to Stratos with prolonged variations, maintaining the model identification the identical. Though Jefferies-owned Stratos didn’t formally reveal the explanations for the company rebranding, it has just lately launched a brand new multi-asset brokerage model, which will probably be supplied in parallel with FXCM.
London-based BidFX System Ltd, a cloud-based digital foreign currency trading options supplier, has rebranded its company identify to SGX FX Techniques UK Ltd, echoing the branding of its dad or mum Singapore Change (SGX).
In line with the newest Firms Home submitting, the company’s identify has been formally modified immediately (Friday). Nonetheless, the corporate’s commerce identify seems to be the identical: BidFX.
The company rebranding got here greater than three years after SGX fully took over the possession of the Lodon-based firm. The Singaporean bourse operator acquired an 80 p.c stake in BidFX in mid-2020, including to its present holding of the opposite 20 p.c. This offered SGX with full possession of BidFX.
BidFX was established in 2017 by Buying and selling Display. Whereas its headquarters stays in London, it additionally operates from places of work in Singapore, Hong Kong, New York, Sydney, and Milan.
The choices of BidFX embrace a cloud-based FX buying and selling expertise platform, options for order administration programs, and customised liquidity entry. It primarily targets hedge funds, asset managers, company treasury desks, or some other buy-side members with its options.
A Rising Firm
Earlier this yr, Finance Magnates reported that BidFX’s income in 2022 jumped 17.4 p.c, thus surpassing $34.4 million. The determine was generated from the corporate’s world operations.
Nonetheless, the working revenue of the UK firm dropped to $2.3 million from $3.5 million, primarily due to a big leap in administrative charges, which was $32.6 million within the final fiscal yr in comparison with $26.4 million within the earlier yr. It ended the yr with a internet revenue of $2.1 million, down from $2.9 million within the earlier yr.
Other than BidFX, the businesses behind one other well-known FX model just lately modified their company identification. A number of firms working the FXCM brokerage model have modified their company names to Stratos with prolonged variations, maintaining the model identification the identical. Though Jefferies-owned Stratos didn’t formally reveal the explanations for the company rebranding, it has just lately launched a brand new multi-asset brokerage model, which will probably be supplied in parallel with FXCM.
