Invast Securities Co., Ltd. (hereinafter “the Company”) has announced that we concluded a capital and business alliance agreement with Tradency Inc. (hereinafter “Tradency”), as described below.
1. The purpose of Capital and Business Alliance
The main purpose of capital and business alliance with Tradency is a joint development of new selective FX trade system and high-quality service of "New ST 24 (tentative name)", by combining Tradency's highly advanced technological development knowledge and the Company’s accumulated knowledge of the service operations that the Company has aquired from a major business in the selective automatic trading FX "ST 24". In addition, we are plaining to provide this “New ST 24” to the financial retail markets as a white-label in the world after co-development of “New ST 24” with Tradency.
Tradency, a system-provided partner of "ST 24", is a financial technology provider of innovative retail trading solutions with development centers in Israel from the beginning of this business. The platform of Tradency "Mirror Trader" is one of the major platforms in FX trade systems that have been introduced in more than 20 countries worldwide.
The Company lanched ST 24 on November 2011, since then we have been committed to providing high value-added services such as focusing on functional improvements, system developments and customer conveniencies. As a result, the accounts of ST 24 reached over 70,000 on July 2014.
Our main goal of this capital and business alliance with Tradency is that the produceing a high-value-added FX services than ever before and this lead to contribution to our stakeholders.
2. Details of Business Alliance
Tradency and the Company have agreed to promote for the following initiatives.
It should be noted that the contents and specific policies, and we are planning to carry out a consultation with both companies in the future.
・Joint development of "New ST 24 (tentative name)"
・Global white label monopoly sales of "New ST24 (tentative name)"
3. Details of Capital Alliance
Tradency will issue 271,038 new shares of classified stock through a third party allocation of shares, and the Company will subscribe to all of those new shares.
As a result, the Company’s ownership ratio in Tradency will become 14.99%.
4. Overview of the company implementing capital and business alliance
(1)
Name
Tradency Inc.
(2)
Location
British Virgin Islands
(3)
Representative
CEO Lior Nabat
(4)
Principal business activities
Provision of retail financial system software
(5)
Establishment
2005
(6)
Major shareholder
Lior Nabat 23.97%
(7)
Relationship between
the Company and Tradency
Capital relationship
N/A
Human relationship
N/A
Business relationship
We have entered into an agreement relating to rent or lease the system in the over-the-counter FX business.
Related party
N/A
5. Schedule
(1) Resolution of the Board of Directors
August 21, 2014
(2) Conclusion of the business alliance agreement
August 21, 2014
(3) Date of payment
Early September,2014 (Plan)
6. Outlook
The agreements will have only a minimal effect on the Company's consolidated business results for the fiscal year ending March 2015.