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For Immediate Release
GAIN Capital Acquires Fortune Capital, Japanese Retail FX Broker
NEW YORK, March 18, 2009 – GAIN Capital Holdings Inc., a global provider of online foreign exchange (forex) trading services, today announced that it has acquired a controlling stake in Fortune Capital Co. Ltd, a privately-owned provider of forex trading services in Japan. A white label partner to GAIN Capital since 2002, Fortune Capital maintains a Tier 1 securities license with Japan’s Financial Services Agency (FSA).
"The acquisition of Fortune Capital is an important step in our strategy of expanding GAIN’s business globally,” said Glenn Stevens, CEO of GAIN Capital. “Fortune Capital is a respected player in the Japanese market, with high standards for reliability and customer service. Through Fortune Capital, we look forward to introducing GAIN’s full capabilities to the Japanese market. This includes a broader product range, enhanced trading tools and, of course, our market-leading trade execution capabilities.”
“GAIN Capital is a worldwide leader in retail forex. Their FOREX.com division is one of the top retail forex trading websites in the world, and I look forward to leveraging their expertise and resources in order to provide world-class products and services to forex traders in Japan,” commented Wee Pin Tan, founder and CEO of Fortune Capital. “Fortune Capital customers will also benefit from a greater level of financial security that comes from being part of a well-capitalized, multi-national company.”
The financial terms of the transaction were not disclosed. Wee Pin Tan retains a minority stake in the company and will continue in his current role as CEO.
Over the next several months, Fortune Capital will introduce new products and services, including an upgraded, fully localized version of GAIN’s award-winning trading platform, tighter spreads, enhanced charting tools, real-time FX news and commentary, and improved online funding capabilities.
About GAIN Capital
GAIN Capital is a market leader in the rapidly growing online foreign exchange (forex or FX) industry. Founded in 1999 by Wall Street veterans, GAIN now services clients from more than 140 countries and supports average trade volume in excess of $200 billion per month with its customers and counterparties.
The company operates FOREX.com (www.forex.com) one of the largest, best-known brands in the retail forex industry. FOREX.com services individual investors of all experience levels with a full-service trading platform, advanced tools and research, and extensive education and training. In addition, GAIN Capital provides execution, clearing, custody, and technology products and services, supporting over 50 correspondent and white label arrangements with broker/dealers, Futures Commission Merchants (FCMs) and other financial services firms around the globe.
With offices in New York City, Bedminster, New Jersey, London and Tokyo, GAIN Capital Holdings and its affiliates are regulated by the Commodity Futures Trading Commission (CFTC) in the US, the Financial Services Authority (FSA) in the United Kingdom, and the Financial Services Authority (FSA) in Japan. For more company information, visit www.gaincapital.com or www.forex.com.
About Fortune Capital
Founded in 2002, Fortune Capital provides online foreign exchange (forex) trading services in Japan. Fortune is regulated by Japan’s Financial Services Agency (FSA) under the Financial Instruments and Exchange Law (FIEL). For additional company information, please visit www.fortune-capital.co.jp.
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