RCS - Archax Holdings Ltd - Archax Group to acquire Spanish broker
31/10/2024 13:15
For best results when printing this announcement, please click on link below: https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241031:nRSe4406Ka&default-theme=true RNS Number : 4406K Archax Holdings Ltd 31 October 2024 Archax Group to acquire Spanish broker KSCM Extending its current UK regulations into EU in preparation for MiCAR Archax, the UK-based, FCA-regulated exchange, broker and custodian for digital assets, today announced it has agreed to acquire the Spanish broker King & Shaxson Capital Markets, Sociedad de Valores, S.A. (KSCM), to be renamed Archax Markets Europe, S.A. The completion of the acquisition is subject to customary regulatory approvals in Spain. This deal will allow Archax to extend its existing regulated brokerage, Multi-Lateral Trading Facility (MTF) and custody capabilities into the EU region, as well as add crypto derivatives to its permissions. These extended capabilities will also position the entity well for Markets in Crypto Asset Regulation (MiCAR). KSCM was established in Madrid in 2019, servicing pan-European institutional clients. This transaction will see KSCM become a wholly owned subsidiary of Archax Group and extend its foothold in the EU region. Graham Rodford, CEO and co-founder of Archax, comments: "The Archax strategy has always been to expand its regulatory footprint globally, with the EU region being of prime importance for us, post-Brexit. This acquisition expands and enhances our access to permissions within the EU region, building on those we hold with the FCA in the UK. It also broadens our regulated capabilities-particularly in distribution and crypto derivatives-positioning us well for the upcoming implementation of MiCAR in the EU". Marc Dodd, CEO of King & Shaxson, comments: "King & Shaxson is pleased to have agreed the sale of its Spanish subsidiary to the Archax Group. This sale will allow King & Shaxson to continue to grow and expand our core offering in international fixed income products through both our agency broker and UK MTF." Cuatrecasas (led by partner Fernando Mínguez, with senior associate Carlota Tojo and associates Julián Ruan and Rosa Coloma) provided legal assistance to Archax on the transaction, and Ashurst Spain (partner Pedro Ester and associate María López Garayalde) advised K&S. About Archax Archax is the first ever digital securities exchange regulated by the FCA in London. Targeted at institutions, Archax also has its FCA brokerage, custody and crypto permissions. Founded by experts from traditional capital markets and backed by an accomplished advisory board, Archax offers a credible bridge between the blockchain world and the existing investment space. The Archax team is used to working in highly regulated markets and has a deep understanding of the blockchain landscape and tokenisation too - as well as a vision of how to evolve them and open up digital assets to institutions in a transparent manner. Archax's solutions are built using proven, resilient, scalable, high-performance infrastructure, integrated into the existing institutional trading workflow. For more information, go to www.archax.com (https://www.archax.com/) . This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com (mailto:rns@lseg.com) or visit www.rns.com (http://www.rns.com/) . RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy) . END NRAGZMFGZMKGDZM