City Index acquires IFX
NEWS
The purchase will enable City Index to expand into foreign exchange, an area it regards as a good growth opportunity. "One of the reasons we decided to go ahead with the deal was the FX component of IFX Markets. Retail FX is a great product, and the international presence of IFX should help us expand in this area." Clive Cooke, chief executive of City Index, told FX Week. IFX has offices in Sydney, Shanghai and Boston, as well as London.
Cooke added that while there may be some duplication on
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