BUX Divests CFDs to Asseta Holdings Unit in Strategic Move

BUX divests CFDs unit to Asseta Holding, marking a shift to streamline operations and focus on core business areas for growth. Asseta Holding, the parent company of UAE-based investment firm APM Capital, has acquired BUX Financial Services, the UK arm of Netherlands-based BUX. Announced today (Tuesday), this acquisition follows ABN AMRO’s purchase of BUX’s Netherlands operations, which function as a neo-broker.

BUX Divests CFDs Unit Amid Business Restructuring

Regulated by the Financial Conduct Authority (FCA), BUX’s UK unit provides contracts for differences (CFDs) and financial spread betting services to both retail and professional clients under the BUX Markets brand. BUX’s announcement of plans to sell the business last year made the acquisition expected. APM Capital also offers CFD trading services.

Months prior to the acquisition deal, BUX Markets shut down its operations to “re-evaluate its product offering.”

“We are in the process of divesting all the remaining regulated subsidiaries of BUX Holding,” mentioned Yorick Naeff, CEO of Netherlands-based BUX Holding. “With the sale of the Netherlands, and now the UK-based business, only the Cyprus-based business remains.”

BUX also engaged in CFDs trading through its Cyprus-registered entity. Similar to BUX Markets, the Cyprus entity closed its CFDs platform, known as Stryk, and moved customer accounts to AvaTrade. BUX Europe Limited, the Cyprus-registered entity, still maintains a Cyprus Investment Firm (CIF) license.

Regarding the acquisition, CEO Salim Sebbata of BUX Financial Services remarked: “This acquisition marks a new chapter for BFS, one that promises growth and delivery of innovative financial solutions to our clients. APM Capital’s reach and robust resources will undoubtedly elevate our capabilities and market presence.”

Enhancing APM Capital’s Portfolio

The recent press release outlined Asseta Holding’s acquisition of BUX Financial Services as a strategic move in its global expansion efforts. Additionally, it has diversified APM Capital’s investment portfolio. The companies, however, did not disclose specific terms and financial details of the acquisition.

“The UK market is a crucial component of our expansion strategy, and BFS’s strong reputation and client-centric approach align perfectly with our vision,” mentioned Disha Rajdev, Co-Founder of APM Capital. “We look forward to working closely with the talented team at BFS to drive growth and deliver exceptional value to our clients.”

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