June 1, 2022 - Following ETX’s acquisition of Oval in May 2021, the two brands are now part of the same family with ETX business continuing under the name OvalX. This venture will allow the growing firm which has doubled its headcount in the past year to continue its progression in the fintech space.
Established in 1965, ETX provides services including CFD trading, spread betting and corporate brokerage. OvalX will combine ETX’s trading with Oval’s wealth management experience. Their aim is to provide a service with access to over 5,000 markets across Forex, Indices, Shares and Commodities.
Oval has ambitious plans in Europe and the UK in contrast to what is currently happening in the startup and VC ecosystem. These plans include a strong acquisition drive, focused on fostering new talent to work on the next wave of product evolutions.
The CEO of Oval Money, Philip Adler, said:,“The rebranding of ETX to OvalX is the next stage of our transformation into a modern financial services company, moving closer to unifying the brokerage business with the Oval fintech business.
Claudio Bedino, Oval Money CMO, said, “As an Oval co-founder, I am very excited about this moment, which is a new chapter for this respected brand. After the acquisition of Oval by ETX, we believed that Oval was the perfect name under which to capture our shared values and visions for the financial markets. OvalX retains its distinctive X, bridging the past and future. An X also marks the spot where we rethink the world of trading. The new brand goes further than a visual refresh. We now add technological innovation with the strength that has characterised ETX in recent years. OvalX's transformation will guide it through a future of product developments that will benefit customers.”
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