MDS Financial Group Limited (MWS) announces that an agreement has been reached between MINC Financial Services Pty Ltd and MDS Financial for the acquisition of certain assets of MINC. The agreement provides for the acquisition of the online trading business of MINC in its entirety including its current national client lists, the private client business and advisors in Townsville, Bunbury, Gold Coast and Melbourne. The acquisition does not include MINC’s debts, liabilities and infrastructure.
This acquisition will ensure continuity for MINC clients, all trades in place will be able to be settled and open positions will be closed with clients able to resume trading as normal.
This acquisition marks another exciting step forward for MDS Financial following the recent purchase of stockbroker D2MX, cementing its role as a genuine competitor in both the wholesale stock broking and online trading spaces. D2MX recently entered into a 5 year exclusive agreement with Penson to provide clearing services for equities and exchange traded options with Penson and this relationship has enabled all stakeholders to work together to provide the best solution in what was a critical environment.
“This acquisition continues MDS’s push into the share broking industry and introduces some very capable people to the MDS business,” said Mr. Damian Isbisiter, CEO Corporate and Trading. “We have the experience to handle the integration of this purchase with our existing broking business to provide the existing clients of MINC with a similar or even better trading experience.”
MDS Financial Group Ltd is one of Australia’s premier suppliers of online trading, charting and analysis software, share market data, wholesale trading and corporate advisory services. MINC Financial Services was a full service financial advisory and stock broking firm offering personal financial advice, online trading and wealth management solutions.