just now
The Rostro Group management team has, from 7 January 2023, assumed control of the combined businesses, inclusive of licensed entities in Cyprus, Kenya, South Africa, and Belize, alongside the main operating hub based in Cyprus. The newly acquired licences complement those held in Mauritius and Seychelles.
January 09, 2023 - Rostro Financials Group has announced that, following last year’s acquisition of Scope Markets, the change of control process has now been completed. As a result, the Rostro Group management team has from 7 January 2023 assumed control of the combined businesses, inclusive of licensed entities in Cyprus, Kenya, South Africa, and Belize, alongside the main operating hub based in Cyprus. The newly acquired licences complement those held in Mauritius and Seychelles.
Scope Markets has built a worldwide reputation on its innovative approach to trading. In 2022, the broker acquired the FSCA’s ODP licence to offer derivative products in South Africa, joined the Nairobi Securities Exchange (NSE) to offer NSE’s exchange-traded equity futures, launched Scope Copy, its copy trading platform, and became an exclusive sponsor of World Series of Trading, the world’s first and largest playtrading community. Scope Markets is additionally evaluating further expansion into MENA and the wider Asian regions in 2023 and has engaged 3rd parties to progress these strategic initiatives.
Rostro Group intends to continue with the organic growth of the enlarged business and remains open to further acquisitions to help meet the stated corporate vision of being the world’s #1 diversified financial services group, servicing retail and institutional customers across the globe.
Rostro Group CEO Michael Ayres said, "We are delighted to have now completed the change of control process, bringing Scope Markets under the Rostro Group umbrella. We will now be focused on leveraging the solid foundations that have been laid by an amazing team. We believe that our unique perspective and expertise will drive the company forward and bring even more value to our customers in the markets across the globe."
Rostro Group founder Roger Hambury said, “The completed acquisition of Scope Markets presents another step in the journey of Rostro Group. In the last 12 months we have completed on several acquisitions to drive our expansion, all funded through free cashflow. The acquisition of Scope Markets presents the largest and latest acquisition, signalling our intent to be a leading provider of financial services within our sector globally. The team and I are very excited about the future.”
