Finenz Takes World Leadership Position In Financial Systems Software With Stake In ForexSignal.com
Significant merger between these Singapore and USA-based companies will enable both to leverage complementary capabilities, penetrate new markets geographically, and service a larger client base.
- (1888PressRelease) November 16, 2010 - Singapore & San Juan Capistrano, CA, USA - Singapore-based Finenz Pte Ltd, a financial systems' software company specializing in developing, hosting and maintaining automatic trading systems for financial institutions, has joined forces with US-based ForexSignal, a leading provider of forex trading signals with clients in over 40 countries.
"It is an important step in Finenz's planned progression from being a signal provider to a trade execution company," said Charles Villeneuve, founder of Finenz Pte Ltd. The synergistic merger will enable both companies to leverage complementary capabilities, penetrate new markets geographically, and service a larger client base.
The two companies will combine their portfolio of forex trading signal tools and leverage respective market presence to expand their geographic presence and service a significantly larger audience base. Following the merger, the companies plan to create an even more sophisticated system that will include a selection of short term, medium term and long term position trade signals in a multitude of languages that can be broadcast worldwide with the option of being traded 100% by computers directly in the client's account with selected brokers.
"We are very excited to be partnering with ForexSignal," said Villeneuve. "Their expertise in pushing out forex trading signals to a large user base of retail traders, particularly in North America, is a great addition to our capabilities. At the same time, we believe our strong presence in Asia and our proven systematic trading platform used by many of the large banking and financial institutions in the region adds tremendous value to the combined entity."
Commenting on the merger, Bernard Lewis, President of ForexSignal said: "This merger is a natural fit that joins two of the leading forex signal service providers, resulting in increased intraday trading opportunities for our respective clientele. It will also bring together our exceptional development teams, aggregating the best of financial engineering and software engineering. This will help us develop and fine-tune algorithms to generate and facilitate trading decisions and market indicators. In our industry, money cannot buy know-how and experts are rare because it is relatively new and the exceptional combination of our respective teams is just what we needed to become a world leader in this space."
Expect further acquisition announcements: "Acquiring a stake in ForexSignal is one of the many strategic partnerships we are lining up to scale our operations and expand into new markets," said Villeneuve.
About Finenz
Finenz Pte Ltd , a software company specializing in financial systems, is a pioneer in systematic trading platforms that take the 'emotion out of trading'. Finenz develops and maintains forex trading systems for banks, brokers and financial institutions. The company's Finenz Gateway is a complete trading system solution comprising FxMove, the company's flagship movement analytics application; Cash & Go, a cash management application; Risk Management, a risk management application; and FxTradex, a forex trade executor application. Finenz offers a complete and flexible trading solution, simple to integrate with any existing brokerage or banking environment.
Besides Finenz (Pte) Ltd in Singapore, the Finenz Group of companies includes Finenz SMBA, Denmark, Finenz SA, Labuan and PT. Finenz Indonesia. For more details on Finenz and its core financial software applications, visit www.finenz.com and www.fxmove.com.
About ForexSignal.com
Founded in 1998, ForexSignal.com is a powerful web-based forex signal platform providing real-time forex trade signals through the website or on mobile phones. Used by clients in over 40 countries, ForexSignal.com works with any web browser on a PC or a mobile phone and is fully compatible with over 700 mobile networks in 200 countries. The system alerts subscribers to trading opportunities in real-time via text messages to mobile phones or e-mails with notifications on entry, stop and take/profit prices.
For more details, visit www.forexsignal.com
Media Contact:
Rachel Phua
E-mail: Rachel ( @ ) finenz dot com
Tel No: +65 8511 4605
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