Freedom Holding Corp. Announces Acquisition of Nettrader Brokerage
ALMATY, KAZAKHSTAN / ACCESSWIRE / June 12, 2018 / Freedom Holding Corp. (OTC PINK: FRHC) (the "Company") has announced its subsidiary LLC IC Freedom Finance, headquartered in Moscow, Russia, has completed the acquisition of Nettrader Brokerage Company ("Nettrader"). According to data published by the Moscow Exchange, LLC IC Freedom Finance is now, in terms of the number of its registered clients, the 8th largest retail securities broker in Russia.
The acquisition adds approximately 16,000 clients across Russia to the LLC IC Freedom Finance client base. These clients will now enjoy the added client consulting services provided by LLC IC Freedom Finance. Currently, there are only about 1.4 million securities trading accounts in Russia which has a population of 146 million people. However, LLC IC Freedom Finance is adding nearly 1,000 new clients per month as Russian investors are becoming more interested in the investment markets and market regulators are continuing to take steps to strengthen the securities industry in the country by increasing the capital requirements of securities brokerage firms.
LLC IC Freedom Finance also expands its investment technology assets with the acquisition of Nettrader. Company CEO, Timur Turlov stated, "With this acquisition we have acquired the Tradernet trading platform, which adds to our Company's already robust array of technology that is dedicated to expanding our clients’ power and convenience when accessing the securities markets, providing reliable access to their account information and ready access to our client service teams. I am pleased to announce that our IT personnel have been able to integrate the Tradernet platform into our systems and we are looking forward to providing these tools to all our valued clientele."
OTC Market Group, Inc. operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks, including the Pink Open Market. Investors will be able to view Real Time Level II stock quotes for the Company at http://www.otcmarkets.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains "forward-looking" statements. All forward-looking statements are subject to uncertainty and changes in circumstances. Forward-looking statements are not guarantees of future results or performance and involve risks, assumptions, and uncertainties that could cause actual events or results to differ materially from the events or results described in, or anticipated by, the forward-looking statements. Factors that could materially affect such forward-looking statements include certain economic, business and regulatory risks and factors identified in the Company's periodic reports filed with the Securities and Exchange Commission. All forward-looking statements are made only as of the date of this release and the Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements.
The OTC Markets Group, Inc. has not approved nor disapproved of the contents of this press release.
SOURCE: Freedom Holding Corp.
Released June 12, 2018