Manhattan Beach Trading, Inc. Acquires EFX Group, LLC.
(El
Segundo, CA) – March 1, 2008 – Manhattan Beach Trading, Inc. (MBTI), a
financial services holding company, has acquired introducing forex
agent (IA), EFX Group, LLC. EFX Group, LLC will be integrated into MB
Trading Futures, Inc. (MBTF). Terms of the deal were not disclosed.
(MBTI) believes that the acquisition provides synergies that will
clear the way to increased growth within MBTF. "The EFX Group staff is
a dedicated group of professionals in the Forex market place. Their
innovative approach to educating customers has played a key role in the
expansion of our client base. Their understanding of the retail trading
space will further enhance MBTF's dramatic Forex growth as well as new
product offerings," said Steve Demarest, President of MBTI.
The acquisition includes certain technologies as well as a trading
platform that EFX has created to work with the MBTF execution engine
for forex traders. "Once we started rolling out the product, it became
apparent that we could get more accomplished for the client by working
with MBTF directly. The acquisition comes with a high degree of
technology sharing which will become immediately apparent to FX
clients. Clients will be offered a highly specialized web-based FX
platform that will grow with client needs," adds Jon Floyd, President
of EFX Group.
"We are pleased to welcome the skilled group of professionals of EFX
Group, LLC, to the MBTI family. Their financial success and strategies
complement the MBTF business model," said Ross Ditlove, CEO of MBTI.
EFX Group will continue to operate out of Scottsdale, AZ as an office
of MBTF.
About EFX Group, LLC
EFX Group was founded in 2002 as an introducing forex agent of MBTF.
Over time, EFX separated itself from MBTF by offering education and
enhanced customer support for customers. EFX also has strong
connections with institutional traders.
About MB Trading Futures, Inc.
MB Trading Futures offers online execution and settlement services for
futures based products, as well as off-exchange foreign currency
(Forex) products through its proprietary platform, the MBT Navigator.
MB Trading Futures, Inc. is registered with CFTC and is a member of NFA
as a Futures Commission Merchant (FCM).
About Manhattan Beach Trading, Inc.
Manhattan Beach Trading, Inc. is a financial services holding company
that offers online stock, options, futures, and forex trading through
its wholly-owned subsidiaries, MB Trading and MB Trading Futures, Inc.
It also offers a proprietary platform, the MBT Navigator, and a smart
order route known as MBTX, which intelligently scans market makers,
ECNs, exchanges, and dark pools of liquidity for the best available
execution price.
Trading in futures and forex is speculative in nature and not
appropriate for all investors. Due to the high degree of leverage used
in forex trading, investors should only use risk capital when trading
futures and forex because there is always the risk of substantial loss.
Contacts:
Manhattan Beach Trading, Inc., David Lipsett - d.lipsett@mbtrading.com
EFX Group, Jon Floyd - jfloyd@efxgroup.com
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