Press Release
May 3, 2011
FT Advisors acts as exclusive advisor to WorldPay on their acquisition of Envoy Services Limited
London based specialist advisory firm FT Advisors Limited is pleased to announce a strategic transaction within the payments sector, serving as exclusive advisor to WorldPay, a leading global payments provider, on their acquisition of Envoy Services Limited, a leading alternative payment solutions provider to eCommerce merchants worldwide.
Established in 2005, Envoy is a UK FSA-regulated global payments service that offers single point access to popular local payment and collection services worldwide. The company provides international eCommerce merchants with the broadest coverage for alternative payment acceptance through a global network of over 200 local bank accounts and 40 alternative payment services as well as a leading fraud screening service. The company is headquartered in London.
WorldPay Group CEO Ron Kalifa said: "The acquisition of Envoy confirms WorldPay's status as the leading player in global eCommerce payments and fraud prevention and signifies a renewed focus on innovation for our customers."
Following the acquisition, Envoy will continue to operate its current business model, and the existing Envoy management team will join the senior leadership of WorldPay's eCommerce business unit.
Envoy founder and CEO, Phillip McGriskin, commented: "We are delighted to be joining the WorldPay team and see a unique window of opportunity to create a truly differentiated, market-leading proposition for global merchants."
Floris de Kort, CEO of WorldPay's eCommerce division, added: "Following this transaction, online merchants will, for the first time, be able to obtain world-class gateway, card, alternative payment, fraud prevention and other value-added services via one reliable technical connection from a payment service provider who will fully control development, customisation, quality and stability - and it will be our joint customers who set the priorities."
Udayan Goyal, Managing Director of FT Advisors, added:
"We are absolutely delighted to have worked with WorldPay on their strategic acquisition of Envoy. Envoy represents a new breed of technologically advanced alternative payment providers that are a catalyst for innovation. The addition of the significant capabilities that Envoy brings to Worldpay will continue to propel the combined group as the global leader in e-commerce payment solutions. We are proud to have been associated with this transaction. ”
The acquisition of Envoy is expected to close in May 2011 after customary approvals and comes six months after FT Advisors advised private equity firms Advent International and Bain Capital formally on their successful acquisition of WorldPay from The Royal Bank of Scotland Group.
FT Advisors and Weil, Gotshal & Manges acted as advisors to WorldPay; Rothschilds and Ashursts acted as advisors to Envoy.
About WorldPay
WorldPay is a global card payment acquiring business operating in over 30 countries, which allows customers to accept card payments both at point of sale and over the internet. The company offers services across the entire payment value chain, including transaction capturing, merchant acquiring and transaction processing.
WorldPay is the largest provider of card payment services in the UK and Europe and the fourth largest globally. In 2009, the business processed a total of 6.8 billion transactions worldwide with a value of £243 billion. Headquartered in the UK, the company employs over 2,600 people in markets throughout Europe, the US and Asia.
WorldPay is a global leader in acquiring in the airline and gaming sectors, pioneered the implementation of Chip & PIN in the UK, and is the largest off premises ATM processor in the US.
WorldPay is owned by a consortium of private equity firms Advent International and Bain Capital, with a minority stake held by The Royal Bank of Scotland plc.
About Envoy Services
Founded in 2005 and based in London, Envoy was established to provide merchants with an off the shelf global network of local bank account and alternative payment services. Today the company operates a global network of over 200 local corporate bank accounts, 30 alternative payment services in key online markets, and offers a market leading fraud screening service BVerified.
Envoy processed in excess of $3 billion on behalf of over 500 merchants worldwide, including several FTSE 250 and other publically listed companies spanning a number of industry verticals.
Envoy Services Limited is authorised and regulated by the Financial Services Authority (FSA) of the United Kingdom as a Payment Institution.
About FT Advisors
FT Advisors Limited is a specialist advisory firm based in London, providing corporate finance and strategic advisory services.
FT Advisors is comprised of a team of experienced investment bankers formerly with the financial technology, M&A, investment banking and capital markets groups of Deutsche Bank, Credit Suisse and Dresdner Kleinwort.
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December 31, 2010
FT Advisors acts as exclusive strategic advisor to Helios Investment Partners LLP on their acquisition of a two-thirds stake in InterSwitch Limited.
London based specialist advisory firm FT Advisors Limited is pleased to announce a milestone transaction in the payments processing sector in Africa, serving as strategic advisor to Helios Investment Partners on their acquisition of a two-thirds stake in InterSwitch Limited.
Helios Investment Partners, a private equity firm dedicated to making growth equity investments, leveraged acquisitions, and structured investments in companies across Africa, have reached today a definitive agreement with the selling and remaining shareholders to acquire a majority stake in InterSwitch, the largest payment processing service provider in Nigeria and owner of the leading card scheme Verve.
The transaction is subject to regulatory approval and is expected to close in the first quarter of 2011.
This strategic partnership between Helios and the remaining shareholders will further enhance InterSwitch’s strong growth and accelerate the pan-African expansion of the Company’s platform, which has a reputation for innovative applications developed for African consumers and a service valued by banks for high reliability. InterSwitch is focused on facilitating the exchange of value between service providers (such as financial, telecommunication and utility companies), merchants and their customers as well as other stakeholders on a timely and continuous basis in Nigeria. InterSwitch provides shared, integrated message broker solutions for financial transactions, eCommerce, telecoms value-added services, eBilling, payment collections, and also administers Verve, the leading card scheme in Nigeria. The Verve card, which is currently issued by 16 out of the 24 banks in Nigeria, is the first and only chip-and-pin card accepted across multiple payment channels including Automated Teller Machine (“ATMs”), Point of Sale (“POS”) terminals, online, mobile and at banks.
InterSwitch has been at the forefront of the development and growth of the e-payment sector in Nigeria which is evidenced by its unique position of being the only switching and processing company connected to all banks in the country as well as over 10,000 ATMs and 11,000 POS terminals. In addition, InterSwitch is the leading processor for MasterCard and the market leader in merchant acquiring/POS, a segment which is still emerging and has potential for tremendous growth in Nigeria. The completion of the switch-over from magnetic strip cards to chip-and-pin cards in 2010, is expected to further accelerate growth and usage of e-payments across the country. Nigeria is the first country in Africa to have completed this migration.
Udayan Goyal, Managing Director of FT Advisors, commented:
“We are honoured to have worked with Helios Investment Partners on their strategic investment in InterSwitch, the market leader in Nigeria and an exceptional business with strong growth potential. We are confident that, under the joint leadership of Helios Investment Partners and the remaining shareholders, InterSwitch will capitalise on the high growth momentum of the payments segment in Africa, further fuelled by the on-going shift from paper-based to electronic payments, such as credit cards and mobile payments. We believe that FT Advisors, with its deep domain expertise in the financial technology space, brought significant specialist advice to the buyer in all aspects of the transaction. With this transaction being the largest ever payments transaction in Africa, FT Advisors has further consolidated its position as a market leader in the FinTech space globally.”
Babatunde Soyoye, Managing Partner and Co-founder, Helios Investment Partners, said:
"InterSwitch is a Nigerian success story having been led by a superb management team and benefiting from the foresight, innovation and support of its founding shareholders, and a supportive regulator in the Central Bank Nigeria. The swift execution and extensive advice on key issues around InterSwitch and its industry provided by FT Advisors was undoubtedly a crucial element in our completing this transaction in time scale that the deal required.”
Mitchell Elegbe, Chief Operating Officer, InterSwitch Limited, said:
“We are delighted to have Helios join our shareholder base as our core investor. Helios has demonstrated a deep domain knowledge in the payments space and combined with proven leadership in African private equity that we believe will be highly synergistic, will propel InterSwitch to become the leading payments company in Africa.”
About Helios Investment Partners
Helios Investment Partners is an Africa-focused private investment firm. Helios manages funds and related co-investment entities on behalf of private and public institutions, global investment funds and high net worth individuals.
Helios pursues a full range of investment types, including business formations, growth equity investments, structured investments in listed entities and large leveraged acquisitions across Africa.
About FT Advisors Limited
FT Advisors Limited is a specialist advisory firm based in London, providing corporate finance and strategic advisory services.
FT Advisors is comprised of a team of experienced investment bankers formerly with the financial technology, M&A, investment banking and capital markets groups of Deutsche Bank, Credit Suisse and Dresdner Kleinwort.
For additional information, please visit www.ft-advisors.com.
December 22, 2010
FT Advisors acts as strategic advisor to Abraaj Capital on their 49 per cent investment in Network International LLC.
London based specialist advisory firm FT Advisors Limited is pleased to announce a landmark transaction in the payments processing sector, serving as strategic advisor to Abraaj Capital on their strategic partnership with Network International LLC, whereby Abraaj Capital will acquire a 49 per cent stake in Network International LLC from Emirates NBD.
Network International LLC, the leading independent payment solutions provider in the Middle East and Africa region and Abraaj Capital, the largest private equity group in the Middle East, North Africa and South Asia (MENASA) region, announced today the signing of a partnership agreement to enhance Network International’s strong growth and accelerate the geographic expansion of the company’s market-leading payments processing platform. Under the terms of this agreement, Abraaj Capital through Abraaj Financial Technologies Holdings Limited will acquire a 49 per cent stake in Network International for a price of around AED 2 billion (USD 539 million), which includes a sum contingent upon attainment of profitability targets and a portion financed by Emirates NBD as is normal in such transactions.
Following the signing today of the agreements, which is subject to relevant regulatory approvals, the acquisition is expected to be finalized in the first quarter of 2011.
Network International, a wholly owned subsidiary of Emirates NBD, a leading bank in the region, currently serves around 70 banks and financial institutions in the region and more than 17,000 individual merchants represented in over 28,000 outlets using around 45,000 point of sale machines in the region. The company offers its customers products and services in both the issuing and acquiring segment of the payments industry in the Middle East and Africa. The company also manages one of the region’s most extensive ATM networks, currently exceeding 700 ATMs.
Network International has also established merchant acquiring and processing partnerships with leading global networks, such as American Express, China UnionPay, Diners Club and JCB. In addition, Network International provides extensive consultancy services, including planning, designing and developing new software and services for the payment industry.
The investment in Network International will be the inaugural transaction made through Abraaj’s flagship fund, Abraaj Buyout Fund IV, which seeks to generate medium to long-term capital appreciation by acquiring control-themed interests in established businesses across the region, with a primary focus on the Gulf Cooperation Council states, North Africa, Turkey, South Asia, and the Levant.
Udayan Goyal, Managing Director of FT Advisors, commented:
“We are pleased to have worked with Abraaj Capital on their strategic investment in Network International. Network International is a truly unique business with strong growth potential. We are confident that, under the joint leadership of Emirates NBD and Abraaj Capital, Network International will capitalise on the extremely strong growth prospects of the Middle East and North Africa payments segment, and solidify its position as a clear market leader in its countries of presence. The market for electronic payments has significant growth prospects stemming from the continuing shift from paper-based to electronic payments, such as credit and debit cards, currently the most prevalent form of electronic payment. We believe that FT Advisors, with its deep domain expertise in the financial technology space, brought significant specialist advice to the buyer in all aspects of the transaction. With his transaction being the largest ever payments transaction in the Middle East, FT Advisors has established itself firmly as a market leader in the FinTech space globally.”
Mustafa Abdel-Wadood, Managing Director and CEO, Abraaj Investment Management, said:
“Led by an experienced management team and benefiting from the strength of its founding shareholder, Emirates NBD, Network International is a regional leader in its industry and is well-positioned as a platform for sustained future growth. Given its wide footprint across the entire value chain of transaction processing services, Network International is ideally positioned to take advantage of the continuing shift from cash-based to electronic transactions and to capitalize on the massive growth potential of the region in light of the current under-penetration of payment cards.”
Abdulla Qassem, Chief Operating Officer, Emirates NBD, and Chairman of Network International, said:
“Today, Network International is at the forefront of the regional trend towards electronic payments. We believe that through its continued investment in technology, people and customer relationships, Network International will build on its history of innovation and industry leadership, expanding into new markets and consolidating its status in existing ones. We look forward to leveraging Abraaj Capital’s significant M&A and domain expertise and deep regional network to grow the franchise in the years ahead.”
Matteo Stefanel, Partner, Abraaj Investment Management, added:
“Network International provides a unique platform opportunity to consolidate the highly fragmented payment processing sector in MENASA at a regional level as well as to offer outsourcing services to financial institutions at a world-class standard. Network International has demonstrated a track record of innovation through products such as the iVestor card and continues to deliver leading-edge solutions, cementing its extremely strong position in the region. We look forward to working with the management of Network International to build on the company’s past successes and to grow it into a global leader.”
Ramkumar Chari, CEO Network International, said:
"We are delighted to welcome Abraaj Capital as a strategic partner and shareholder in Network International. Abraaj Capital’s track record of helping to bring regional leaders to a truly global level, and Network International's domain expertise will together assure NI continued success into the next level of its growth."
About Network International
Established in 1994, Network International LLC is the largest acquirer and one of the leading payment solutions providers in the region aimed at meeting the needs of banks, financial institutions and retailers. It is a Principal Member of Visa and MasterCard, offering customers the most comprehensive range of payment products and services in the Middle East and Africa, for both the Issuing and Acquiring segment of the electronic payments industry. Offerings include credit and debit card processing services, ATM management and monitoring, merchant acquiring and consumer finance applications. Network International provides consultancy services, including planning, designing and developing new software and services.
Network International is UAE’s largest merchant acquirer for Credit and Debit Cards and the largest third-party processing vendor in the Middle East, capable of providing banks, financial institutions and retailers with complete end-to-end EMV-certified solutions.
About Abraaj Capital
Abraaj Capital is the largest private equity group in the Middle East, North Africa and South Asia (MENASA). Since inception in 2002, it has raised close to US$7 billion and distributed almost US$3 billion to its investors. Headquartered in Dubai, the Abraaj Group operates eight offices in the region including in Istanbul, Cairo and Riyadh. Funds managed by the Abraaj Group or its predecessor entities have made 36 investments in 11 countries and achieved more than 20 exits.
More than 75 world-class investment professionals work for Abraaj Capital, which manages seven funds: four buyout funds, Riyada Enterprise Development Fund (a fund dedicated to small and medium enterprises), ASAS (an income-generating, sale-and-leaseback fund), and a real estate fund. Assets under management at the end of 2009 were US$6.1 billion. Funds managed by the Abraaj Group have holdings in about two dozen companies in the region including Air Arabia, the region’s leading low-cost carrier, Acibadem Healthcare Group, Turkey’s largest privately owned hospital operator, and Al Borg Laboratories, the Middle East’s largest privately owned medical-testing laboratory business.
Abraaj Capital has won many regional and international awards, including five consecutive years as ‘Middle Eastern Private Equity Firm of the Year’ from London-based Private Equity International. Abraaj Capital Ltd., a member of the Abraaj Group, is licensed by the Dubai Financial Services Authority. The group is also an associate member of the European Venture Capital Association.
About FT Advisors Limited
FT Advisors Limited is a specialist advisory firm based in London, providing corporate finance and strategic advisory services.
FT Advisors is comprised of a team of experienced investment bankers formerly with the financial technology, M&A, investment banking and capital markets groups of Deutsche Bank, Credit Suisse and Dresdner Kleinwort.
For additional information, please visit www.ft-advisors.com.
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December 2010
FT Advisors founder wins the prestigious FN100 Rising Stars award, once again
FT Advisors is pleased to announce that Udayan Goyal, founder and Managing Director of FT Advisors (boutique advisory firm focused on the financial technology sector) was once again placed in the top 100 rising stars in 2010 ("FN100 Rising Stars") by the Financial News.
Below is an extract from the Financial News website:
This year marks the sixth annual FN100 Rising Stars list, Financial News’ editorial pick of the brightest up-and-coming executives under 40 working in investment banking, asset management, hedge funds, private equity, wealth management, exchanges, trading or support services to these sectors.
The financial crisis has honed a new breed of nimble young executives for whom uncertainty is normality and dislocated markets present boundless opportunities.
Because of their youth, these men and women have no preconceived notions of how things “should” be done, and are not constrained by a traditional mindset.
The list reflects the industry’s shift in focus in preparation for the avalanche of new regulation and the need to tap into the explosive growth of emerging market economies. Nearly a quarter of the stars have been busy trying to interpret impending regulation for their firms and clients, and engaging with lawmakers to ensure their voice is heard and the worst unintended consequences can be avoided.
Of this year’s Rising Stars, a fifth either invest directly in emerging markets or have spent time gaining experience working in developing countries. Other hot areas are capital solutions for financial institutions ahead of new solvency and capital adequacy rules, and providers of services to high frequency traders.
Udayan Goyal commented: "I feel humbled. I would like to thank the advisory board, our clients, my partners and the team for their support - they have played an integral role in the success of the company. The continued turmoil in financial markets has seen a resurgence in the need for independent advice and therefore the return of the niche advisory boutique. In addition, the traditional merchant banking model is once again fulfilling the needs of our clients who require deep domain expertise with unbiased advice. ".
http://www.efinancialnews.com/gallery/in-pics-fn100-rising-stars-2010/27
http://www.efinancialnews.com/story/2010-12-06/class-of-201
http://www.efinancialnews.com/fn100-rising-stars/2010
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August 6, 2010
FT Advisors acts as strategic advisor to Bain and Advent on their acquisition of a majority stake in WorldPay, the payment processing business of RBS.
London based specialist advisory firm FT Advisors Limited is pleased to announce a landmark transaction in the payments processing sector, serving as strategic advisors to Bain Capital and Advent International on their acquisition of a majority stake in RBS WorldPay, the payment processing business of The Royal Bank of Scotland (RBS).
Bain and Advent, both leading global private equity firms, have today signed an agreement with The Royal Bank of Scotland Group plc (RBSG) to acquire 80.01% in its subsidiary business, RBS WorldPay, for an enterprise value of around £2 billion including a £200 million contingent consideration. RBS will hold 19.9% of the new WorldPay business.
The transaction is subject to regulatory approval and is expected to close before the end of 2010.
RBS WorldPay, also known as RBS Global Merchant Services, is the fourth largest provider of card payment services globally and the largest in the UK and Europe. In 2009, the business processed a total of 6.8 billion transactions worldwide with a value of £243 billion. The business is headquartered in London.
Established in 1989, the business has expanded both organically and through acquisitions. RBS WorldPay was launched as a brand in 2009 to consolidate RBS’s portfolio of successful payment brands, which includes Streamline, the leading provider of point-of-sale payment services in Europe. RBS WorldPay offers services across the entire payment value chain, including transaction capturing, merchant acquiring and transaction processing.
Today, RBS WorldPay’s clients vary in size from small family run companies to large multi-national corporations, spanning a broad spectrum of industries and sectors. The business operates in over 30 countries and has the ability to process up to 680 transactions per second in 113 currencies across 72 payment methods. It enables clients to accept card payments either at point-of-sale, mail order or over the internet on a global, efficient and secure basis.
Udayan Goyal, Managing Director of FT Advisors, commented:
"We are absolutely delighted to have worked with Advent and Bain on their strategic acquisition of RBS Worldpay. WorldPay is an excellent business with strong growth prospects and we are confident that Advent and Bain will further strengthen WorldPay’s position as one of the world’s leading global acquirers. The market for electronic payments has significant growth prospects as a result of the continuing shift from paper-based payments, such as cash and cheques, to electronic payments like credit and debit cards, the most prevalent form of electronic payment. We believe that FT Advisors, with its deep domain expertise in the financial technology space, brought significant specialist advice to the buyers in all aspects of the transaction. With his transaction being one of the largest buyouts of 2010, FT Advisors has established itself firmly as a market leader in the FinTech space globally. "
Ron Kalifa, who will be leading the business as Chief Executive Officer, said:
“RBS WorldPay is a strong business with a leading position in its markets and I am confident that it will continue to grow and prosper under the joint ownership of Advent International and Bain Capital. I am also delighted that RBS Group will hold a minority stake in the business, providing ongoing support and helping to maintain existing relationships with our customer and supplier bases. We will continue to deliver the reliable products and first-class service that our clients have come to expect from this business and we look forward to enhancing our product offering. This is an exciting time in the ongoing evolution of our company.”
James Brocklebank, Managing Director and Head of Advent’s financial services sector team in Europe, said:
“WorldPay is a unique business and we are delighted to be supporting Ron Kalifa and his team in the next phase of its growth. Advent and Bain will be making a very significant investment in the company to enhance its technology and expand the range of products and services offered to merchants. Our long-standing specialisation in financial services and payment processing will also benefit the business as it moves forward as an independent entity.”
Robin Marshall, Managing Director, Bain Capital added:
“Bain Capital is delighted to announce this investment in WorldPay. We have unparalleled experience in large, complex carve outs of leading global businesses - experience we will bring to bear in the next phase of WorldPay’s development. We are excited to work together with Advent, WorldPay management and RBS Group in further strengthening WorldPay’s position as one of the world’s leading global acquirers.”
Since its inception in 1984, Bain Capital has made over 50 investments in the financial services and technology sectors across Europe, Asia and North America.
Advent International has been investing in the financial services sector for over 20 years and has backed more than 30 companies in a broad range of subsectors including payments, transaction processing and financial technology.
Advent International and Bain Capital were advised by Credit Suisse, Weil Gotshal & Manges, Kirkland & Ellis, PwC, FT Advisors, First Annapolis and McKinsey & Company.
About Advent International
Founded in 1984, Advent International is one of the world’s leading global buyout firms, with offices in 17 countries on four continents. A driving force in international private equity for 25 years, Advent has built an unparalleled global platform of over 150 investment professionals across Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, strategic repositioning opportunities and growth buyouts in five core sectors, working actively with management teams to drive revenue growth and earnings improvements in portfolio companies. Since inception, Advent has raised €19.4 billion ($25 billion) in private equity capital and, through its buyout programs, has completed over 250 transactions valued at approximately €40 billion ($52 billion) in 35 countries.
For more information, visit www.adventinternational.com.
About Bain Capital
Bain Capital is one of the world’s leading private investment firms with approximately $67 billion in assets under management and a team of over 300 investment professionals located across 3 continents and 8 offices. Since its inception in 1984, Bain Capital has made private equity investments and add-on acquisitions in over 300 companies, focusing on market leading businesses and world class management teams.
Bain Capital has a distinctly people-intensive, value-added approach to investing, with a strong emphasize on supporting management teams to drive strategic and operating improvements. The firm’s Managing Directors follow a long-standing tradition of operating as a consensus-oriented partnership, personally committing themselves at every stage of the investment process, and partnering with management to ensure the success of their portfolio companies.
For more information, visit www.baincapital.com.
About FT Advisors Limited
FT Advisors Limited is a specialist advisory firm based in London, providing corporate finance and strategic advisory services.
FT Advisors is comprised of a team of experienced investment bankers formerly with the financial technology, M&A, investment banking and capital markets groups of Deutsche Bank, Credit Suisse and Dresdner Kleinwort.
For additional information, please visit www.ft-advisors.com.
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May 5, 2010
FT Advisors acts as exclusive advisor to ODL Group Limited on its sale to FXCM Holdings LLC
London based specialist advisory firm FT Advisors Limited is pleased to announce a landmark transaction in the Retail Forex sector, serving as exclusive strategic advisor to ODL Group Limited on its sale to FXCM Holdings LLC.
ODL Group Limited (“ODL”) is a leading, independent forex, derivatives, equities and commodities broker. FXCM Holdings LLC (“FXCM”) is a leading global forex broker that caters to both retail and institutional markets.
ODL’s strong UK and European businesses will provide an excellent complement to FXCM’s sizeable operations in both the United States and Asia. The combined companies will operate as one of the largest non-bank forex brokers globally servicing over 200,000 live trading accounts with combined client assets in excess of US$800 million.
Founded in 1999, FXCM is one of the largest forex brokers, regulated by several financial regulators including the Financial Services Authority in the UK and the Commodity Futures Trading Commission in the U.S. FXCM is one of very few forex and CFD brokers to regularly publish its balance sheet. With over US$135 million in firm capital (assets minus liabilities), FXCM exceeds regulatory requirements.
Post acquisition, ODL will continue to trade under its current name. No financial information regarding the structure of the deal is being released.
"We are proud to have worked with ODL's management, employees, Board and shareholders, in helping the company achieve this milestone. This transaction will create the global leader in the retail FX space with a strong capital base, technology and most importantly people. " said Udayan Goyal, Managing Director of FT Advisors.
"This is truly a landmark event for ODL and the Board was well served by the FT Advisors team as our advisors on this transaction." said Graham Wellesley, Vice Chairman of ODL Group Limited.
"The FT Advisors team showed great commitment and tenacity in helping us consummate this deal. Their specialist knowledge of the sector was unquestionably a major factor in achieving this outcome." said Giles Elliott, CEO and Chairman of ODL Group Limited.
This transaction demonstrates FT Advisors’ ability to establish strong relationships with top Financial Technology firms and to deliver outstanding results connecting clients with the industry's most attractive transaction partners.
About FT Advisors Limited
FT Advisors Limited is a specialist advisory firm based in London, providing corporate finance and strategic advisory services.
FT Advisors is comprised of a team of experienced investment bankers formerly with the financial technology, M&A and investment banking groups of Deutsche Bank and Credit Suisse.
For additional information, please visit www.ft-advisors.com.
About ODL Group Limited
ODL Securities is a leading, independent forex, derivatives, equity and commodity trading house. Headquartered in London, with affiliates in Australia and Turkey, ODL has over 200 staff globally and clients from over 100 countries. ODL Securities offers Retail, IB and White Label clients an integrated approach to trading diverse financial products. The Group companies now trade under the names ODL Markets in the UK (for retail business).
Originally founded in 1994 as an Options House with just 28 staff, ODL Securities Limited received a capital injection from new shareholders in 2004 and a new senior management team was appointed. Since then, a wide range of enhancements have been implemented across all areas of the business, and new products introduced.
ODL Securities Limited is authorised and regulated by the Financial Services Authority and is a member firm of the London Stock Exchange and NYSE Euronext, LIFFE.
For further information please visit www.odlmarkets.com.
About FXCM
Forex Capital Markets (FXCM) is a leading global forex broker that caters to both retail and institutional markets. Founded in 1999, FXCM is one of the largest brokers, regulated by several of the world’s most respected financial authorities.
For further information please visit www.fxcm.co.uk
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10 March 2010
FT Advisors Limited acts as exclusive advisor to National Stock Exchange of India Limited (NSE) on its strategic partnership with the Chicago Mercantile Exchange Group (CME)
In what has been reported as a landmark agreement, NSE, India’s largest stock exchange, announced a cross-listing arrangement with the CME, the world's leading and most diverse derivatives marketplace. This includes license agreements covering benchmark indexes for U.S. and Indian equities. The parties also entered into a Memorandum of Understanding with respect to other areas of potential cooperation, including development and distribution of financial products and services.
FT Advisors Limited, a London based specialist advisory firm, acted as exclusive advisors to the NSE.
NSE / CME strategic partnership
Under the cross-listing arrangements, the S&P CNX Nifty Index (the Nifty 50), the leading Indian benchmark index for large companies accounting for 22 sectors of the Indian economy, will be made available to CME, for the creation and listing of U.S. dollar denominated futures contracts for trading on CME, and the rights to the S&P 500 and Dow Jones Industrial Average (DJIA) will also be made available to NSE for the creation and (subject to regulatory approval) listing of Rupee-denominated futures contracts for trading on NSE.
"Indian financial markets have gone through a phase of rapid growth in the past few years," said Ravi Narain, MD & CEO, NSE. "Our products are traded by institutional investors worldwide, making the Nifty 50 one of the more widely traded global products. This association with CME Group will make the Nifty 50, and, over time, potentially other products across various India-related asset classes, available to a much larger community of traders and investors. At the same time, investors in India will have access to new exchange traded products that reflect some of the world's most widely traded equity indexes. This will improve portfolio choice for Indian investors by widening the array of assets that they can hold in their portfolios."
"Our new partnership with NSE is an integral part of our global growth strategy," said Craig Donohue, Chief Executive Officer, CME Group. "In addition to our existing partnerships or investments in Brazil, Dubai, Korea, Malaysia, Mexico and Singapore, our NSE partnership will further expand our customers' access to the most actively-traded foreign markets, while also increasing access for global investors from within these regions to CME Group products and services. As the world's 12th largest and one of the most rapidly growing economies, India is an important part of our efforts to develop strategic partners in key growth markets."
"We see this as a very exciting development that marks the coming of age of Indian financial markets," added Mr. Narain. "This will go a long way in achieving our vision of supporting economic growth in the country by making Indian financial products available globally and meeting the needs of our investor community for global products."
http://cmegroup.mediaroom.com/index.php?s=43&item=3000&pagetemplate=article
http://www.nse-india.com/content/press/10032010.htm
http://money.cnn.com/news/newsfeeds/articles/prnewswire/CG67948.htm
About FT Advisors Limited
FT Advisors Limited is a specialist advisory firm based in London, providing corporate finance and strategic advisory services.
For more information about FT Advisors, please visit: www.ft-advisors.com
About National Stock Exchange of India Limited
The National Stock Exchange of India Limited (NSE), established in the mid 1990s as a demutualised electronic exchange by leading Indian financial institutions, offers trading, clearing and settlement services in a range of products covering equity, debt and equity derivatives. It is India's largest exchange and ranks third globally by number of trades in the equities market. NSE provides a modern, fully automated screen-based trading system with nearly 200,000 trading terminals giving it extensive reach. NSE has played an important role in helping reform the Indian securities market and in bringing about transparency, efficiency and market integrity.
For more information about NSE, please visit: www.nseindia.com.
About CME Group
As the world's leading and most diverse derivatives marketplace, CME Group is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the largest central counterparty clearing services in the world, which provides clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort®. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk in both listed and over-the-counter derivatives markets.
For additional information about CME Group's U.S. equity indices, visit: www.cmegroup.com/equity.
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10 March 2010
FT Advisors Limited acts as exclusive advisor to National Stock Exchange of India on its partnership with the Singapore Exchange
The National Stock Exchange of India Limited (NSE) and the Singapore Exchange (SGX) have signed a Memorandum of Understanding (MOU) to cooperate in the development of a market for India-linked products.
Under the MOU, both exchanges aim to explore future collaboration in the expansion, development and promotion of India-linked products and services to be listed on SGX. Subject to regulatory approval, these products may include equity products and other asset classes. The two exchanges will also look into a bilateral securities trading link to enable investors in one country to trade on the other country’s exchange.
FT Advisors Limited acted as advisors to NSE with regard to expanding its strategic partnership with SGX.
NSE / SGX MOU
NSE Managing Director & CEO Mr. Ravi Narain said, "We welcome this MOU with SGX which will open up new opportunities for both exchanges. This marks a significant step towards fulfilling our common objective of expanding our reach to international investors. Today, the Nifty is used extensively by investors in India and around the world to take exposure to the Indian equities market. The total trading volume of Nifty-linked Futures on NSE in 2009 was 167 million contracts, representing a daily average of 687,000 contracts and the trading volume of Nifty-linked Options on NSE in 2009 was 321 million contracts representing a daily average of 1,321,000 contracts.
SGX CEO Mr. Magnus Bocker said, "Our customers have been instrumental to the success of our current range of India-linked products. As part of our Asian gateway strategy, we will continue to work with like-minded partners to explore collaboration opportunities. We are delighted to be in this MOU with NSE, which will pave the way for greater cooperation and synergy between both markets."
About FT Advisors Limited
FT Advisors Limited is a specialist advisory firm based in London, providing corporate finance and strategic advisory services.
For more information about FT Advisors, please visit: www.ft-advisors.com
About National Stock Exchange of India Limited
The National Stock Exchange of India Limited (NSE), established in the mid 1990s as a demutualised electronic exchange by leading Indian financial institutions offers trading, clearing and settlement services in a range of products covering equity, debt and equity derivatives. It is India's largest exchange and ranks third globally by number of trades in the equities market. NSE provides a modern, fully automated screen-based trading system with nearly 200,000 trading terminals giving it extensive reach. NSE has played an important role in helping reform the Indian securities market and in bringing about transparency, efficiency and market integrity.
For more information about NSE, please visit: www.nseindia.com/span
About Singapore Exchange Limited
Singapore Exchange Limited (SGX) is Asia-Pacific's first demutualised and integrated securities and derivatives exchange.
SGX was inaugurated on 1 December 1999, following the merger of two established and well-respected financial institutions - the Stock Exchange of Singapore (SES) and the Singapore International Monetary Exchange (SIMEX). On 23 November 2000, SGX became the first exchange in Asia-Pacific to be listed via a public offer and a private placement.
For more information about SGX, please visit: www.sgx.com
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10 March 2010
FT Advisors Limited acts as exclusive advisor to National Stock Exchange of India on licencing Nifty options and related products
SGX has announced that it expects to offer options on the S&P CNX Nifty Index (Nifty) and related products in the coming year.
This follows SGX’s obtaining of licensing rights from India Index Services & Products Limited (IISL), a subsidiary of NSE, for the product range including derivative contracts on the CNX Nifty Junior, CNX 100 and CNX Midcap indices. The addition of these products is subject to relevant regulatory approvals. The new India-based products aim to provide market participants with increased trading opportunities and enhanced means for risk management.
FT Advisors Limited acted as advisors to NSE with regard to expanding its strategic partnership with SGX.
SGX to offer Nifty options
Building on the success of SGX’s current offerings, these new India-based products will provide market participants with increased trading opportunities and enhanced means for risk management. Since its launch in 2000, the SGX S&P CNX Nifty Futures has grown to be one of SGX’s key Asian equity derivatives products. Total trading volume in 2009 was 7.1 million contracts, representing a daily average of 29,524 contracts. A new daily record of 297,280 contracts was achieved on 27 January 2010 on the back of an active onshore market and rollover activity.
Mr Magnus Bocker, CEO of SGX, said, “We would like to express our appreciation to our customers for their support of our current suite of India-linked products. As we continue to find ways to meet customers’ growing interest in the Indian market through our different partnerships, we are very excited to deepen our relationship with IISL with this planned expansion of our suite of Indian equity derivatives. This will complement our current offerings and bolster SGX’s position as a one-stop gateway for international market participants to manage their Indian investment, trading and hedging needs.”
Mr Ravi Narain, Chairman of the Board of Directors of IISL and Managing Director & CEO of the National Stock Exchange of India Limited, said, “SGX has achieved a solid track record with Nifty futures contract. We are pleased to see SGX’s interest in expanding the range of products based on the Nifty family of indices. This is testament to the international brand recognition of the Nifty index. Today, the Nifty is used extensively by investors in India and around the world to take exposure to the Indian equities market."
About FT Advisors Limited
FT Advisors Limited is a specialist advisory firm based in London, providing corporate finance and strategic advisory services.
For more information about FT Advisors, please visit: www.ft-advisors.com
About National Stock Exchange of India Limited
The National Stock Exchange of India Limited (NSE), established in the mid 1990s as a demutualised electronic exchange by leading Indian financial institutions offers trading, clearing and settlement services in a range of products covering equity, debt and equity derivatives. It is India's largest exchange and ranks third globally by number of trades in the equities market. NSE provides a modern, fully automated screen-based trading system with nearly 200,000 trading terminals giving it extensive reach. NSE has played an important role in helping reform the Indian securities market and in bringing about transparency, efficiency and market integrity.
For more information about NSE, please visit: www.nseindia.com
About Singapore Exchange Limited
Singapore Exchange Limited (SGX) is Asia-Pacific's first demutualised and integrated securities and derivatives exchange.
SGX was inaugurated on 1 December 1999, following the merger of two established and well-respected financial institutions - the Stock Exchange of Singapore (SES) and the Singapore International Monetary Exchange (SIMEX). On 23 November 2000, SGX became the first exchange in Asia-Pacific to be listed via a public offer and a private placement.
For more information about SGX, please visit: www.sgx.com
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24 December 2009
FT Advisors founder wins the prestigious FN100 Rising Stars award
FT Advisors is pleased to announce that Udayan Goyal, founder and Managing Director of FT Advisors (boutique advisory firm focused on the financial technology sector) was placed in the top 100 rising stars in 2009 ("FN100 Rising Stars") by the Financial News.
Over the past three months, Financial News canvassed the market for opinion and drew up a long list of more than 300 potential rising stars.
All nominees had to be under 40, based in Europe, the Middle East or Africa and working in investment banking, asset management, hedge funds, private equity, wealth management, exchanges, trading or support services to these sectors.
Candidates were then assessed over the following criteria:
i) achievements to date given their age;
ii) the stature of mentors;
iii) firepower at their disposal; and
v) their potential to reach a position of great influence.
The list was then whittled down to 100. Compiled by Yasmine Chinwala with research by Tim Cave.
Financial News reported: " When the going gets tough, the tough seek opportunity. This year’s Rising Stars have shown grit, determination and entrepreneurial flair in the face of an unprecedented global economic meltdown. Despite their youth and relative inexperience, the 100 men and women have proved their worth by artfully anticipating the rapidly changing financial landscape, and will continue to ascend as the crisis recedes."
Udayan Goyal commented: "I feel humbled. I would like to thank the advisory board, our clients, my partners and the team for their support - they have played an integral role in the success of the company. The continued turmoil in financial markets has seen a resurgence in the need for independent advice and therefore the return of the niche advisory boutique. In addition, the traditional merchant banking model is once again fulfilling the needs of our clients who require deep domain expertise with unbiased advice. ".
Links:
http://www.efinancialnews.com/fn100
http://www.efinancialnews.com/fn100/udayangoyal
