innovative provider of forex trading services to 27,000 individual traders,
fund managers and institutional clients worldwide. Under the terms of the
acquisition, which has been unanimously approved by the Boards of both
companies, TradeStation Technologies, Inc., a wholly-owned subsidiary of
TSG, acquired from Interbank FX, LLC, a Utah corporation and one of the
wholly-owned operating subsidiaries of IBFX, the proprietary risk-management
software of Interbank FX, LLC, and immediately thereafter TSG acquired all
of the ownership interests of IBFX from its members. Within the next 30
days, Interbank FX, LLC (the primary Forex operating company of the IBFX
group) will be merged into TradeStation Forex, Inc., a Retail Foreign
Exchange Dealer registered with the Commodity Futures Trading Commission and
a member of the National Futures Association, and, as a result, all of
Interbank FX, LLC's accounts will be transferred to TradeStation Forex and
it will be operated as the "IBFX Division" of TradeStation Forex. IBFX
Australia Pty. Ltd., an Australian company regulated as a member
of the Australia Securities and Investments Commission, will also
operate as a subsidiary of TSG.
"This is a win-win for IBFX and TradeStation clients and makes TradeStation
a global leader in forex trading, dramatically expanding our customer
relationships and creating a global operating presence," said Gary Weiss,
President of TradeStation Forex, Inc. "IBFX's proprietary forex tools and
services and its focus on customer care will now be backed by the financial
stability and trading technology leadership of TradeStation. In time,
TradeStation forex clients will benefit from technology offered by IBFX
using TradeStation's award-winning, market analysis and trading platform."
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