Merger provides common platform

Software/portfolio-management/

7 September 2006
| By John Wilkinson |

Three market data and trading companies are to merge to provide an all-in-one financial services platform for investors.

MDSnews is buying Bourse Data and The Cube Financial Group, although no figures have been released and the moves will still be subject to shareholder and regulatory approval.

MDSnews managing director Leon Hinde says the merger of the three companies is a logical fit as each entity’s services are complementary to each other.

“By joining together we can realise some rationalisation benefits and can each offer a better range of services to benefit our Australian and international customers,” he said.

“We believe there is a good basis for combining our strengths and hope to finalise the arrangement over the coming weeks.”

The merged group will offer a range of financial services including investment software, trading tools, execution services, investor education, portfolio management and advice.

The new company will be expected to have revenues of more than $11 million and be profitable from day one.

It is proposed that the new board will consist of three representatives from MDSnews and one representative each from Bourse Data and Cube Financial.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 4 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

5 months ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

2 weeks 1 day ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 6 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks 4 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND