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Contracts-for-difference trading platform Plus500 Ltd on Monday said it is venturing into the Japanese retail trading market through the acquisition of EZ Invest Securities for an undisclosed sum.
EZ Invest is licenced as a type 1 financial instruments business operator, regulated by Japan's Financial Services Agency and a member of the Japan Securities Dealers Association and the Financial Futures Association of Japan.
EZ Invest's offering includes CFDs and over-the-counter foreign exchange.
Haifa, Israel-based Plus500 said the acquisition represents a major growth opportunity for the company and strengthens its strategic position as a multi-asset fintech group. The purchase diversifies its geographic footprint through an immediate presence in the retail trading market in Japan, the company noted.
Plus500 Chief Executive said: ‘This acquisition represents an important strategic step for Plus500 as we continue to strengthen our position as a global multi-asset fintech group, by further diversifying our geographic footprint. I am excited about the opportunities available in the substantial Japanese retail trading market and, given Plus500's considerable technological expertise and robust financial capability, I am confident that we will be able to maximise this opportunity.’
Plus500 shares were down 0.50 pence to 1,458.00 pence each in early trade on Monday in London.
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